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AdvertisementTikTok Shop saw over $100 million in single-day sales on Black Friday, a spokesperson told BI. On Friday, the company drove over $100 million in US sales on its e-commerce platform Shop, a company spokesperson told Business Insider. Other top sellers on TikTok Shop's Black Friday were Tarte Cosmetics and lifestyle retailer Miniso, they added. Last year, across the full US holiday shopping season, Amazon drove around $104 billion in US holiday sales, while Walmart hit about $20 billion in US e-commerce sales during that holiday period, according to eMarketer estimates. TikTok Shop featured holiday discounts from brands like electronics maker Phillips, Fenty Beauty, and Maybelline NY, for example.
Persons: TikTok, Stormi Steele, Nico Le Bourgeois, Le Bourgeois, Tarte, Phillips, TikTok's Organizations: Amazon, Adobe Analytics, Walmart, Congress Locations: China
The company spent much of the event pushing TikTok Shop partners to test out live selling. But live selling was the clear focus of the event, five partners who attended told Business Insider. AdvertisementA second partner who attended the event described its content as "live, live, live." The invite list for the summit may have also played a role in focusing the discussion around live selling. Several attendees said the prospect of a ban wasn't brought up at the company's TikTok Shop partner summit.
Persons: TikTok, , Jake Bjorseth, Trndsttrs, what's, ByteDance, adQuadrant, Warren Jolly, you've, Jolly, it's, Bjorseth, influencers, TikTok's, wasn't Organizations: TikTok, Service, Culver City, Business, Shop, TikTok's, Douyin, BI, Amazon, Walmart Locations: China, Culver, livestream, TikTok's China, Asia, Shanghai, Hangzhou, North America, Europe
From conversations with e-commerce analysts, TikTok Shop partners, sellers, and creators, it's clear that Shop is growing steadily in the US and driving meaningful sales for some brands. TikTok Shop is also showing strong momentum in regions outside the US that have embraced social shopping more, like Southeast Asia. Order-tracking platform Route saw global order volume on TikTok Shop grow a modest 35% between January and June. AdvertisementWhat's working for TikTok ShopWell-timed promotional campaigns and live selling have bolstered TikTok Shop's growth this year, agency sources told BI. TikTok Live has become an e-commerce hub for all types of sellers, including pre-owned luxury retailer What Goes Around Comes Around, which has a streaming studio in its store.
Persons: , influencers, TikTok, it's, It's, Nicole Rechtszaid, Steele, Pena, Rechtszaid, Dan Whateley, Julian Reis, SuperOrdinary, Reis, we've, Michael Yamartino Organizations: Service, Business, TikTok Shop, TikTok, Ghost Agency, Amazon's, livestreams Locations: Southeast Asia, Paris, Maybelline New York, Asia, China
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