Stock Markets February 7, 2026

How TikTok Shop Is Operating as It Scales Across Europe

Morgan Stanley expert outlines the platform’s category strengths, logistical constraints and potential competitive impact on third-party retailers

By Sofia Navarro
How TikTok Shop Is Operating as It Scales Across Europe

TikTok Shop has used early rollouts to refine its social-commerce model, with a U.K. launch in 2021 serving as a learning phase and a U.S. expansion in 2023 producing stronger outcomes. A Morgan Stanley industry expert advising brands on the platform says the recent push into Europe’s five largest markets is poised to accelerate, driven by social discovery, strong demand in Germany and deep influencer pools in France. Beauty is highlighted as the platform’s best category fit, while apparel presents more operational challenges. Logistics and advertising shifts remain key variables as TikTok seeks greater control over fulfillment and brands reallocate media budgets toward discovery-led channels. The bank notes social commerce poses a risk to traditional fashion-led platforms such as Zalando.

Key Points

  • TikTok Shop used the U.K. launch in 2021 as a testing ground; the U.S. expansion in 2023 delivered stronger results, providing momentum for broader European rollout. - Impacts: e-commerce, social commerce
  • Beauty is identified as the platform’s best-suited category due to standardization, visual appeal and lower return rates, while Apparel faces sampling and fit-return challenges. - Impacts: retail, apparel, beauty sector
  • Logistics remain a constraint: Europe currently relies on third-party providers, whereas the U.S. requires sellers to use Fulfilled-by-TikTok from late February, highlighting differences in operational capacity. - Impacts: logistics, fulfillment, retail supply chain

TikTok Shop’s commercial model is evolving as the platform moves beyond initial markets and ramps operations across Europe. According to an industry specialist advising brands and cited by Morgan Stanley, the U.K. rollout in 2021 effectively acted as a testing ground for adapting the social-commerce framework outside Asia, exposing both early pitfalls and opportunities.

Those initial lessons included the presence of lower-quality overseas merchants on the platform and weaker consumer engagement with livestream shopping compared with experiences in Asia-Pacific markets. In contrast, the expert said the U.S. expansion in 2023 produced more encouraging results, creating momentum that is now being harnessed for a broader European push.

Faster rollout expected across Europe’s major markets

Morgan Stanley’s note, citing the expert, states that the recent calendar of expansion into Europe’s so-called "big 5" - Germany, France, Italy, Spain and Ireland - is likely to scale more quickly than the initial U.K. launch. The expert highlighted regional distinctions that could shape adoption rates: Germany is viewed as especially attractive from a demand standpoint, while France is noted for a deeper supply of influencer talent capable of supporting product promotion and social discovery.

Social discovery remains central to the platform’s proposition. Consumers frequently encounter brands through content-first interactions and then transition to purchase via the Shop experience, rather than arriving with a pre-existing purchase intent as they might on more traditional e-commerce marketplaces.

Category dynamics - Beauty versus Apparel

Within product categories, the expert identified Beauty as a natural fit for TikTok Shop. Reasons include standardized formulations that ease quality consistency, strong visual appeal that converts in short-form and live formats, and comparatively lower return rates. For these reasons, the expert and Morgan Stanley expect Beauty to persist as the platform’s largest long-term category.

Apparel, by contrast, presents complexity. Success in clothing depends on sampling products to influencers, managing fit-related returns and handling other logistics that can raise operational friction. The expert suggested that Apparel’s growth will trail Beauty, and that the latter will remain the larger segment over time.

Logistics and fulfillment - a work in progress

TikTok Shop is also adjusting its logistics approach as volumes increase. In Europe the platform currently operates with a mix of third-party logistics providers and established partners to build trust while scaling. The expert noted an important contrast with the U.S.: TikTok Shop has mandated sellers to adopt its Fulfilled-by-TikTok service from late February or face the risk of exclusion. While parallel requirements could materialize in Europe over time, the platform does not yet have the operational capacity to fully meet European demand on its own.

Advertising shifts and competitive implications

On the marketing side, brands are increasingly allocating budgets across multiple channels. Some advertising spend is being directed to TikTok Shop as companies emphasize product discovery rather than traffic driven solely by explicit purchase intent. Morgan Stanley observed that consumers often use the platform to discover and identify with a brand, whereas incumbent e-commerce sites remain more focused on intent-driven buying.

That shift in how consumers find products presents a competitive risk for third-party marketplaces and fashion-led platforms. Morgan Stanley specifically flagged the potential for social commerce to siphon ad spend away from established channels, saying this poses a risk to players such as Zalando. However, the bank’s expert also noted that TikTok Shop currently functions best in categories like Beauty, where lower return rates limit immediate pressure on fashion-centric platforms.


Conclusion

TikTok Shop’s trajectory across Europe reflects a period of calibration informed by early market tests. The platform’s strengths in social discovery and category suitability in Beauty give it a differentiated proposition, while apparel and broad-scale fulfillment remain areas requiring further operational refinement. Advertising reallocations toward discovery-led channels and gradual changes to fulfillment requirements are likely to be key determinants of how quickly TikTok Shop can translate consumer engagement into sustainable commerce volume across European markets.

Risks

  • Shift in ad spend toward social commerce could reduce marketing budgets for traditional e-commerce platforms, posing competitive risk to fashion-led marketplaces such as Zalando. - Affected sectors: online marketplaces, retail
  • TikTok Shop’s limited operational capacity in Europe could hinder its ability to meet growing demand if it moves to mandate its own fulfillment there, potentially disrupting seller participation. - Affected sectors: logistics, third-party fulfillment providers
  • Apparel category complexity - sampling to influencers and fit-related returns increase operational friction and return costs, which could slow apparel growth on the platform. - Affected sectors: apparel retail, returns management

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