The biggest difference between this feature and the previously launched TikTok Shop is that the new shopping store mainly sells ByteDance's own products, and most of the suppliers are from China. This feature gives TikTok the capital to compete head-on with Amazon and Temu.
According to Semafor, TikTok's new store will mainly sell products such as toys and kitchen supplies on the platform. However, TikTok did not respond to this news. Last week, insiders confirmed that TikTok is testing a shopping feature called "Fashion Beat" in the UK, and the products in it will be sold and shipped by a Singaporean company under TikTok's parent company ByteDance.
Although TikTok initially denied that the new e-commerce feature would be tested in the United States, media discovered that the company had filed a trademark application for "Fashion Beat" in the United States, indicating that the feature is likely to be expanded to the US market in the future.
Currently, TikTok's e-commerce strategy in the United States is still in its early stages. The company has been testing the TikTok Shop US site since November last year, but it has not yet been officially tested. This may be the reason why TikTok did not immediately test "Fashion Beat" in the US market.
On the other hand, although the TikTok Shop feature was first launched in the UK, several sites in Southeast Asia have come from behind and shown impressive growth momentum.
According to Bloomberg, TikTok hopes to more than triple the size of its e-commerce business to $20 billion in GMV by the end of 2023, up from $4.4 billion last year.
It can be seen that TikTok has put a lot of effort into its e-commerce business, and there will be another powerful competitor in the cross-border e-commerce circle in the future. TikTok USA |
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