Fashion’s Future Why TikTok Shop Might Be the Biggest Story of 2024
Fashion's Future Why TikTok Shop Might Be the Biggest Story of 2024
While 2023 saw TikTok establish itself as a social media juggernaut, whispers of its e-commerce ambitions, particularly through TikTok Shop, have been brewing. Now, with its US launch in September 2023, experts are proclaiming it a potential game-changer for the fashion industry in 2024.
According to a new report by The New Consumer and Coefficient Capital, U.S shoppers generated $260 million in gross merchandise volume on the platform in October 2023 per YipitData estimates. That was up 43% from September. Of consumers who say they use TikTok once a month or more, 69% say they are willing to buy something. Meanwhile, 28% said they already have, the report said.
In addition, almost all consumers (93%) who made a pur...