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But their appetite for shopping online hasn鈥檛 yet extended to social media. That鈥檚 partly because social commerce has been slower to roll out in the UK than in the US and China, the world鈥檚 other top ecommerce nations. Another headwind is the relative maturity of ecommerce in the UK, where consumers and brands already have well-established digital habits that could take time to change.

UK consumers鈥� hearty appetite for ecommerce hasn鈥檛 extended to social shopping. But there is strong potential for growth as TikTok triggers a new wave of community-driven commerce.

The UK鈥檚 ecommerce habits make it a prime testing ground for TikTok鈥檚 shopping tools. The UK is much closer to China in terms of ecommerce sales as a proportion of total retail. It places second by this measure, at 32.0%, behind China鈥檚 45.9% and well ahead of the US鈥檚 15.6%, per our forecast. And TikTok is banking on this translating into comfort with social buying.

On today's podcast episode, we discuss the most important retail trends we're watching in 2024: How retailers will try to compete less with Amazon online, how China's influence will shake up online shopping in the US, and buying retail media networks. Join our analyst Sara Lebow as she hosts vice president of content Suzy Davidkhanian and analysts Sky Canaves and Blake Droesch.

The other piece of TikTok though is TikTok Shop where a whole lot of stuff is coming from China. Marcus Johnson (18:35):. Yeah. Zak Stambor (18:35):. Which to go back to tariffs will have 60% tariffs on it. So TikTok Shop, Temu, Shein, all these platforms, may have a hard time just existing in a Trump administration or they'll have to shift gears quite a bit. Marcus Johnson (18:52):. Yeah.

Shein stumbles under UK regulators鈥� scrutiny: The ecommerce platform failed to relieve concerns about forced labor in its supply chain as it prepares for a more challenging operating environment.

In Q3, retailers struggled with shopping trends upended by extreme summer weather along with a threat of incoming tariffs. Here鈥檚 how they addressed these challenges in their Q3 earnings calls and what it could mean for the industry heading into 2025.

Ad spending devoted to ecommerce is the reason why the retail industry will account for more than a fifth of total digital ad spending in the UK this year. Proportionally, though, retail ad spending has been in stasis thanks to a dip in ecommerce spending.

Gap鈥檚 momentum continues into the holiday season: Weather-related headwinds notwithstanding, the retailer鈥檚 brand reinvigoration efforts are resonating with shoppers and driving sales.

Whether TikTok Shop can replicate the success of its Chinese counterpart, Douyin, remains to be seen.

This pattern is mirrored In China, where luxury retail has seen a similar bounce-back from pandemic levels, though ecommerce sales will see slightly larger growth than in the US. 4. What consumers want. So what drives luxury consumers to shop online? Deals. Almost a third reported that online discounts or offers drove them to purchase luxury goods online.

惭别虫颈肠辞鈥檚 ecommerce market is dominated by players like Mercado Libre, Amazon, Walmart, and Liverpool, offering TikTok Shop plenty of competition in a high-growth growth market. Sources. Associated Press. CNBC. The Economist. The Information. MediaPost. NPR. Politico. South China Morning Post. Wall Street Journal.

US ecommerce livestreaming and owned fulfillment centers are on the horizon鈥攂uilding on the #TikTokMadeMeBuyIt phenomenon (30 billion views and counting) to entice young shoppers. TikTok is poised to crack the elusive US social commerce nut:. TikTok parent ByteDance pursues global growth. The ecommerce gross merchandise value on Douyin (China鈥檚 TikTok) quadrupled to $100 billion from 2019 to 2021.

A US company like Walmart could be a potential buyer, leveraging TikTok for retail media and ecommerce ambitions, Willens said. 5. A children鈥檚 online safety law will pass in 2025. Mitchell-Wolf predicted that 鈥渁 law around children鈥檚 online safety or privacy gets passed [within] the first six months of the next presidential administration.鈥�.

Go further: Check out our US Amazon Ecommerce Forecast 2024.

This is especially true in the cross-border B2B space鈥攚hich features a partnership between the largest bank and largest card network outside of China鈥攁nd retail payments, where Visa, Mastercard, and PayPal have taken an investment lead. And while crypto remittance momentum tilts to upstarts, legacy player MoneyGram has also embraced the technology. Sources. Blockdata. Bloomberg Law. Capgemini.

igh delivery costs are the No. 1 aspect of online shopping that frustrates adults worldwide, according to H1 2024 data from DHL.

But the situation is flipped when it comes to online shopping: Asia-Pacific will boast 61.0% of the world鈥檚 digital shoppers, while North America will have just 8.5%, which helps explain why Alibaba鈥檚 ecommerce sales in China are nearly triple Amazon鈥檚 in the US. More like this:. Amazon falls behind Walmart in battle for India鈥檚 online shoppers. How online shopping lost touch with reality.

They don't do a lot of e-commerce, and they've really tapped into the consumer demand for extreme value and upped their merchandising game with a lot of products that people actually buy, and it's shown up in their results over the last couple of quarters this year. Suzy Davidkhanian (03:04):. I definitely agree with you. I think I took it less literally, the must-visit store of the year.