TikTok Shop doubled its global gross merchandise value (GMV) in the first half of 2025, with U.S. market hitting $5.8 billion, Momentum Works & Tabcut report showed last Friday.
The duo said in a statement that TikTok Shop’s global GMV hit $26.2 billion in the first half, and if the current pace of growth holds, the platform is on track to double its 2024 GMV of $33.2 billion by year-end.
In the U.S., TikTok Shop’s GMV has reached $5.8 billion (surged 91 percent year on year), with 475,000 stores and 15.3 million influencers contributing to growth.
Indonesia overtook the U.S to become TikTok Shop’s largest market in the first half, generating $6 billion in GMV.
The U.S now ranks second, followed by Thailand and Vietnam.
Malaysia emerged as the fastest growing market, with GMV soaring 150 percent year on year to $2.7 billion, overtaking the Philippines in total GMV.
Singapore, the smallest market, was the only one to record negative growth.
Meanwhile, live streaming on TikTok Shop U.S. accounted for 14 percent of GMV in the first half, up from 10 percent in 2024, though still in the early stages compared to Southeast Asia and China.
Shop grew to 36 percent, while video remained the dominant channel at 50 percent.
All of the top five best-selling products and nine of the top ten influencers in the first half were new to the rankings.
Most top influencers now rely heavily on live selling, with over 90 percent of their GMV coming from livestreams.
Only one live session surpassed $1 million GMV in the first half, compared to four in 2024. The top session, hosted by CozyNest, lasted nearly 137 hours.
“What we’re seeing in TikTok Shop U.S. is not just growth—it’s a reshaping of the ecosystem. The rapid turnover in top influencers, products and categories signals a platform still defining its long-term trajectory,
“Agility and localization will be key moving forward.” said Weihan Chen, Head of Insights at Momentum Works.