Business Maverick: TikTok Begins Testing In-App Shopping to Challenge Facebook

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

ByteDance Ltd.’s TikTok is working with brands including streetwear label Hype to test in-app sales in Europe, a move that will intensify its competition with Facebook Inc. and further blur the line between social media and online shopping.

The popular video app is hoping to replicate abroad the success of its Chinese-only cousin Douyin, which racked up $26 billion of e-commerce transactions in just its first year of operation. TikTok has begun working with merchants in markets including the U.K. on ways they can sell products directly to millions of users within the app, people familiar with the matter say.

“Chinese internet companies will go and incentivize behaviors they think they need for the next stage of ecosystem behavior,” said “TikTok has been testing and learning with e-commerce offerings and partnerships, and we are constantly exploring new ways” to add value, the company said in an emailed statement. “We will provide updates as we explore these important avenues for our community of users, creators and brands.”to grab their share of online retail, a segment that will generate $5 trillion in sales this year, according to eMarketer’s projections.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Normally I don’t do this, I don’t praise people for any reason,truth be told good work deserve appraisal,I wound deny the fact that I’m super jealousy of your hard work and skill. I’m proud of you and what you do in the life of people we need more people like you Sharon_cryptofx

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WATCH: Bold business proposal to tackle digital skills challengeMichael Avery chats to experts about the digital skills crisis in SA Couple of months ago I came across a recommendation about Blakescott64 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation
Source: BDliveSA - 🏆 12. / 63 Read more »

Ivory Coast power shortages hit industry and West African neighboursLow water levels at hydropower dams blamed as power outages affect businesses and cocoa sector
Source: BDliveSA - 🏆 12. / 63 Read more »