With the rise of competitors, TikTok is trying hard to make more monetization processes for its short video content. In order to gain the advantage of potential users, the platform is taking some new steps to attract new users.
The key element of this will be eCommerce. TikTok is currently looking for ways to evolve in-stream shopping tools, along with a new test of product listings. As for now, the current feature is in testing mode in Europe.
TikTok has begun working with merchants in markets, including the UK, on ways they can sell products directly to millions of users within the app, people familiar with the matter say.
TikTok has been testing and learning with e-commerce offerings and partnerships, and we are constantly exploring new ways” to add value. We will provide updates as we explore these important avenues for our community of users, creators and brands.
It’s a sort of new surprise to see the platform taking some steps towards eCommerce. According to researchers, it is the logical step as TikTok has a huge user base of more than a million users. However, TikTok is in the initial stage of giving money to its users as compared to other platforms.
In recent data, ByteDance – a parent company of TikTok has a focus to generate revenue of $185 billion by 2022 through eCommerce.
eCommerce is the biggest opportunity for TikTok. It is worth that if marketers keep an eye on this update and the progress. The new feature will bring out some new opportunities as well for the brands.