TikTok Shop Projected GMV Hits $15.1 Billion With 68% Growth

TikTok Shop has established the United States as its largest single-country market in 2025, according to a report by Momentum Works and Tabcut (Topview AI). The platform’s U.S. Operations generated US$15.1 billion in gross merchandise value (GMV), representing a 68% increase from the US$9 billion recorded in 2024.

This growth signals a transition for the platform as it moves from its initial launch phase in the U.S. Toward a period of systematic execution. While the U.S. Leads as an individual market, Southeast Asia remains the primary growth engine for the company, with that region’s aggregate GMV doubling to US$45.6 billion in 2025.

U.S. Market Dynamics and Seller Performance

The scale of the U.S. Ecosystem expanded to include 15.4 million influencers and 803,500 stores by 2025. However, the report indicates that this growth has not been distributed evenly across all participants.

More than half of the stores on the platform recorded no sales. Conversely, a small number of high-performing merchants drove significant volume, with 2,143 stores exceeding US$1 million in GMV and 135 stores surpassing US$10 million.

Sales patterns in the U.S. Are increasingly aligning with traditional retail cycles. Approximately 30% of the total 2025 GMV was generated during November and December, fueled by campaigns surrounding Black Friday, Thanksgiving, and Christmas.

Shifts in Commerce Channels

The methods through which users purchase products are evolving. While video remains the primary contributor to GMV, its share decreased from 58% in 2024 to 50% in 2025. Other channels saw a rise in adoption:

• The Shop tab increased its share of GMV from 32% to 36%.
• Live commerce grew from 10% to 14% of total GMV.

Jensen Wu, CEO and co-founder of Tabcut, noted that the focus for merchants and creators is shifting toward using AI and data as core infrastructure to transform content into sustainable, repeatable growth.

Global Expansion and Competitive Landscape

Globally, TikTok Shop’s GMV nearly doubled to reach US$64.3 billion. Outside of the U.S. And Southeast Asia, the platform is gaining traction in other regions. The U.K. Market recorded a growth rate of 87%, and Brazil generated US$0.4 billion in GMV within a few months of its launch in May 2025.

Within Southeast Asia, Indonesia stands as the second-largest market globally, reaching US$13.1 billion in GMV. Other key drivers of momentum in the Southeast Asian region include Malaysia and Thailand.

Jianggan Li, CEO and founder of Momentum Works, stated that the trajectory in the U.S. Demonstrates the viability of content-led retail within a mature consumer market.

Future Outlook

Projections for the platform suggest continued expansion. Global TikTok Shop GMV is expected to reach US$112.2 billion in 2026. Data indicates that more than 15 million sellers are active on the platform globally as of 2026, with nearly 58% of users making purchases directly through the application.