TikTok Shop drew more US online spending in July than Target, Costco, or The Home Depot, per card transaction data from Consumer Edge. Its share of online retail spending in the US hit roughly 2% last month, against about 1.2% a year earlier, though it’s still far behind Amazon at around 35% and Walmart at around 7%. Part of that gain may come from TikTok not having to compete with Prime Day this July, which it did a year earlier, but Consumer Edge research SVP Michael Gunther said Prime Day doesn’t appear to explain much of the share growth, which has run close to linear since launch. Shoppers who bought at least 20 times in Q2 made up 5% of buyers and about 30% of spending. Spending grew fastest among shoppers over 35.
