TikTok to take on Amazon on home ground aims for $17.5 billion US e-commerce business

News Snapshot:

Social media platform TikTok's parent company Bytedance has set its sights on the $17.5 billion strong US e-commerce market, Bloomberg reported citing sources. And plan for a US version of the TikTok shop is under review by the company, it added. The expansion plans set TikTok on course to encroach on the home ground of US retail giant Amazon, besides fellow Chinese seller platforms such as Shein and Temu. And while the latter two platforms have made significant inroads among younger American consumers, TikTok is banking on its extensive social media outreach and the allure of viral content to capture...