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☆ TikTok is building an e-commerce team to go after pre-owned luxury bag buyers and sneakerheads
▼ + stars: | 2023-08-04 | by ( Dan Whateley | ) www.businessinsider.com time to read: +3 min

TikTok is hiring staffers to sell pre-owned luxury items like bags and collectibles like sneakers. Its investment in pre-owned goods shows how far the company's "everything store" ambitions extend. It's hiring a "Head of Pre-Owned Luxury" operation lead in Seattle to develop a go-to-market strategy and build a team of sellers focused on pre-owned luxury items. TikTok's plan to invest more in pre-owned luxury sales arrives as some TikTok Shop merchants have already been testing selling pre-owned luxury goods like jewelry, watches, and Chanel handbags, The Fashion Law reported. The market for pre-owned luxury items has exploded in China in the last few years, including on Douyin.

Persons: It's, TikTok, Chanel, trickier Organizations: Street, TikTok Locations: Seattle, China

☆ TikTok is heavily promoting Shop as it eyes e-commerce as a key growth driver. Here's a 9-page document it's used to court creators and sellers.
▼ + stars: | 2023-07-31 | by ( Marta Biino | ) www.businessinsider.com time to read: +3 min

TikTok is wooing brands and creators to try its in-app shopping feature, Shop. In June, TikTok UK hosted an online summit detailing how to get started on Shop and best practices. Read the full 9-page document TikTok shared after the summit with information about Shop. Creators, meanwhile, are being offered cash bonuses, freebies, and other perks for promoting TikTok Shop products. In the UK, TikTok continues to aggressively pursue sellers, and offering "solutions designed with complex businesses in mind," Patrick Nommensen, UK e-commerce general manager, told Insider in June.

Persons: TikTok, Kris Boger, Patrick Nommensen Organizations: TikTok, Shop, Bloomberg, Amazon, Street Journal Locations: Southeast Asia, Europe, China

☆ Inside TikTok's pitch to get marketers selling on Shops, and why the biggest brands are wary of investing
▼ + stars: | 2023-07-31 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

US brands are testing TikTok's shopping feature that competes with Amazon. TikTok Shops charges lower fees than Amazon, but it requires too many resources from brands. Many big brands are also investing in loyalty programs that don't connect well with social commerce features, she said. He said that his agency has 25 clients that plan to use TikTok Shop, and half of those brands are already live. WPromote's early results show that running TikTok Shop ads are driving sales, Dweck said, though he did not provide specifics.

Persons: TikTok, it's, Rachel Tipograph, they've, Vic Drabicky, Drabicky, Tipograph, Carly Carlson, PMG, Digital's Drabicky, David Dweck, Dweck Organizations: Amazon

JAKARTA/HONG KONG, July 27 (Reuters) - TikTok said it has no plans to roll out a cross-border business in Indonesia as a government minister on Thursday expressed concerns over how reported plans for a new e-commerce push by the firm could flood the country with Chinese products. "We have no intent to create our own e-commerce product or become a retailer/wholesaler in Indonesia to compete with Indonesian sellers." The current localised TikTok Shop model "empowers and benefits" local sellers, and TikTok will continue with this approach, she added. The company said that its app has 325 million Southeast Asian users that are active every month while 125 million are in Indonesia. The company has said that there are 2 million small businesses on TikTok Shop in Indonesia.

Persons: TikTok, China's ByteDance, Masduki, Fiki, Temu, Anggini Setiawan, Shou Zi Chew, Stanley Widianto, Josh Ye, Brenda Goh, Conor Humphries Organizations: Reuters, Indonesia's, Cooperatives, Enterprises, PDD Holdings, U.S, of Communications, TikTok, Thomson Locations: JAKARTA, HONG KONG, Indonesia, United States, Indonesian, Europe, TikTok Indonesia, Asia, Jakarta, Hong Kong

☆ TikTok Shop strikes 'buy now, pay later' partnership in Malaysia as part of e-commerce push
▼ + stars: | 2023-07-21 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

TikTok struck a partnership with "buy now, pay later" service Atome to offer installment payments on its e-commerce marketplace in Malaysia, the latest in the company's e-commerce push into Southeast Asia. TikTok Shop will include Atome as a payment option, which would allow customers to spread deferred payments over three or six months. Atome is the BNPL arm of Singapore-based fintech firm Advance Intelligence Group, which is backed by major investors like SoftBank Vision Fund 2 and Warburg Pincus. The partnership is expected to "drive growth" and "enable merchants and small businesses to offer their customers a convenient and flexible payment option," Jonathan Low, e-commerce lead of strategy and special projects at TikTok Shop, said in a statement on Friday. "By integrating Atome as a payment option on TikTok Shop, we're excited to help drive ecommerce growth and support brands of all sizes," said William Yang, head of commercial at Atome.

Persons: TikTok, Atome, Warburg Pincus, Jonathan Low, William Yang Organizations: Advance Intelligence Group, SoftBank Locations: Malaysia, Southeast Asia, Singapore, Atome

☆ TikTok is offering creators $1,000 cash incentives and other rewards as it looks to bolster its e-commerce program
▼ + stars: | 2023-07-20 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +7 min

TikTok is offering a slew of cash bonuses and rewards to creators that use its new shopping feature. The conversation centered around how to formalize the role of "TikTok Shop creator" as a new category of influencer, akin to a sports or food personality, Jayy said. "I'm thinking about marketing myself as a TikTok Shop creator," she said. In another instance, they were offered $1,000 in cash for generating at least $3,000 in Shop sales via a video. "Most of the people don't have the support or the knowledge to even be these TikTok Shop creators that TikTok wants them to be."

Persons: Sharon Jayy, Jayy, it's, TikTok, influencers, It's, Ross Hawthorne, Nadia Lynn Garcia, Maryam Malik, Lissette, Shayna Farnan, she's, Malik, Lauren Mabra, Mabra, Pinterest, Farnan Organizations: TikTok, Real Quick Media, Meta, Facebook, YouTube, Financial Times, TikTok Shop Locations: Culver City , California, China, London

☆ TikTok is luring creators into its Shop program with office visits, private chat groups, and cold hard cash
▼ + stars: | 2023-07-19 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +7 min

The conversation centered around how to formalize the role of "TikTok Shop creator" as a new category of influencer, akin to a sports or food personality, Jayy said. "I'm thinking about marketing myself as a TikTok Shop creator," she said. In another instance, they were offered $1,000 in cash for generating at least $3,000 in Shop sales via a video. On the right, a screenshot of what a creator sees on the backend when using TikTok Shop as an affiliate. "Most of the people don't have the support or the knowledge to even be these TikTok Shop creators that TikTok wants them to be."

☆ TikTok creators are raking in cash and scoring millions of views from its shopping affiliate program. Will it last?
▼ + stars: | 2023-07-17 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +8 min

TikTok creators are raking in sales commissions from its new e-commerce program, TikTok Shop. TikTok has some requirements for who can join its TikTok Shop program. Some users work directly with brands on TikTok Shop promotions, while others simply choose eligible products from TikTok Shop sellers at a standard commission rate. Micro and nano influencers can also score big TikTok Shop paydaysCreators don't need to have millions or even hundreds of thousands of followers to make good money from TikTok Shop commissions. Natalie Park, a fashion, lifestyle, and college content creator with around 32,000 TikTok followers, also had a TikTok Shop video featuring a phone stand go viral.

Persons: Shayna Farnan, Farnan, Jeneen Sahtout, Shawn Jacobson, Jacobson, TikTok, Nicole Rechtszaid, Arlene Resendiz, Resendiz, Sharon Jayy, Grace Secrist, Alexander Jane, Natalie Park, I'm, what's, influencers, they'd Organizations: Walmart, CVS, TikTok, influencers, Ghost Agency, TikTop, Fund Locations: Pennsylvania, UK, Indonesia

☆ TikTokers are earning thousands in commissions from its new shopping program and scoring millions of views. Will it last?
▼ + stars: | 2023-07-14 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +8 min

TikTok creators are raking in sales commissions from its new e-commerce program, TikTok Shop. TikTok has some requirements for who can join its TikTok Shop program. Micro and nano influencers can also score big TikTok Shop paydaysCreators don't need to have millions or even hundreds of thousands of followers to make good money from TikTok Shop commissions. Natalie Park, a fashion, lifestyle, and college content creator with around 32,000 TikTok followers, also had a TikTok Shop video featuring a phone stand go viral. "It's just a matter of sorting through the TikTok Shop and finding what's actually on there that's worth my time."

☆ TikTok may be preparing to sell its own products in the US as it tests the strategy in the UK, a new trademark filing suggests
▼ + stars: | 2023-06-21 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +3 min

TikTok is testing a new shopping section in the UK version of its app called Trendy Beat. TikTok may be preparing to sell its own products in the US, per a new trademark application filed by a subsidiary of its parent company ByteDance. It filed a trademark application in the US for Trendy Beat on May 30, listing mostly apparel items such as clothing, bathing suits, and footwear as goods associated with the mark. A spokesperson for TikTok told Insider product selections for its Trendy Beat feature may be informed by popular trends on the platform like #TikTokMadeMeBuyIt. It's turned to the UK and Indonesia to test e-commerce features first.

Persons: TikTok's, Patrick Nommensen, TikTok, It's, Nommensen, Marta Biino, Emma Cosgrove Organizations: Financial Times, Beat, YouTube Locations: Indonesia, Asia

☆ TikTok to invest billions of dollars in Southeast Asia, CEO says
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: +1 min

Short video app TikTok, owned by China's ByteDance, said on Thursday it would invest billions of dollars in Southeast Asia over the next few years, as it doubles down on the region amid intensifying global scrutiny over its data security. Southeast Asia, a region with a collective population of 630 million — half of them under 30 — is one of TikTok's biggest markets in terms of user numbers. "We're going to invest billions of dollars in Indonesia and Southeast Asia over the next few years," TikTok CEO Shou Zi Chew said at a forum it organised in Jakarta to highlight the social and economic impact of the app in the region. TikTok did not provide a detailed breakdown of the spending plan, but said it would invest in training, advertising and supporting small vendors looking to join its e-commerce platform TikTok Shop. Chew said content on its platform was becoming more diversified as it adds more users and expands beyond advertising into e-commerce, allowing consumers to purchase goods through links on the app during livestreaming.

Persons: China's ByteDance, Alibaba's, Shou Zi Chew, Chew Locations: Southeast Asia, Sea's, Indonesia, Jakarta, TikTok

☆ TikTok to invest billions of dollars in Southeast Asia amid growing scrutiny over data security
▼ + stars: | 2023-06-15 | by ( ) edition.cnn.com time to read: +3 min

Short video app TikTok, owned by China’s ByteDance, said on Thursday it would invest billions of dollars in Southeast Asia over the next few years, as it doubles down on the region amid intensifying global scrutiny over its data security. TikTok did not provide a detailed breakdown of the spending plan but said it would invest in training, advertising and supporting small vendors looking to join its e-commerce platform TikTok Shop. TikTok has 8,000 employees in Southeast Asia and 2 million small vendors selling their wares on its platform in Indonesia, the region’s biggest economy, he added. E-commerce transactions across the region reached nearly $100 billion last year, with Indonesia accounting for $52 billion, according to data from consultancy Momentum Works. The app has not faced major bans on government devices in Southeast Asia, but it has been under scrutiny over its content.

Persons: China’s ByteDance, Alibaba’s, “ We’re, ”, Shou Zi Chew, Chew, TikTok, Matt McClain Organizations: Momentum Works, Shopee’s, Washington Post Locations: Southeast Asia, Sea’s, Indonesia, Jakarta, TikTok, Washington ,, Beijing, Britain, New Zealand, Vietnam

☆ TikTok's plan to cash in on its popularity among Gen-Z shoppers has a big flaw
▼ + stars: | 2023-06-12 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +3 min

But TikTok is betting on livestream shopping, which has been a flop in the US. Much of TikTok's success ecommerce success has come from livestream shopping, which is an enormous market in countries like Indonesia. In the US, in contrast, livestream shopping has yet to take hold. There hasn't been much evidence of a turn toward livestream shopping in the US so far. Read more about TikTok's shopping strategy

Persons: TikTok, Instagram, Gen Z, it's, Izea, It's, Patrick Nommensen, Insider's Marta Biino, hasn't Organizations: Morning, YouTube, Facebook, Bloomberg Locations: Southeast Asia, Indonesia, TikTok

☆ I'm an author who used TikTok to sell enough books that I could quit my day job as a nurse. Here's how.
▼ + stars: | 2023-06-12 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

In the summer of 2022, he got access to TikTok Shop and began selling his books through the app. Last summer, I started using TikTok Shop as a platform to sell my books directly to people in the UK. Since I began using TikTok Shop, I've made over £11,000, about $14,000. With TikTok Shop, I end up with £2 or £3 per book more than when I sell through Amazon, on average. But because there are better margins on TikTok, I'm in control of discounts and offers.

Persons: Adam Beswick, He's, A.P Beswick, haven't, TikTok, It's, I've, — I'm, I'm, that's, it's, you'll, you've Organizations: KDP, Amazon Locations: TikTok

Livestream shopping started on social media in China, and according to Coresight Research, has grown into a $512 billion market. The secret to his success, he told CNBC, has been diving into the world of livestream shopping. However, CEO Deborah Weinswig told CNBC the firm has since revised that projection. The firm also estimates livestream shopping will account for more than 5% of total e-commerce sales in the U.S. by 2026. Influencer Danielle Santana hosts live shopping shows on Amazon , selling products from other businesses — everything from cheese graters to make-up sponges.

Persons: I've, Velez, TikTok, Anthony Velez, Deborah Weinswig, didn't, Weinswig, CNBC they're, Eddie Garcia, we're, Garcia, he's, Influencer Danielle Santana, Santana, Coresight's, livestreaming, it's Organizations: eBay, U.S, Research, CNBC, Poshmark, Amazon, Facebook, Meta Locations: China, New York City, U.S

☆ TikTok seeks up to $20 bln in e-commerce business this year - Bloomberg News
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - ByteDance-owned TikTok hopes to more than quadruple the size of its worldwide e-commerce operations to as much as $20 billion in merchandise sales this year, relying on growth in Southeast Asia, Bloomberg News reported on Wednesday, citing people familiar with the matter. TikTok's e-commerce platform lets customers purchase goods through links on the app during live broadcasts. The company is also working to expand its sales in the US and Europe, the report said. Financial Times had last year reported that TikTok is due to enter a partnership with Los Angeles-based TalkShopLive to launch its live shopping platform in North America by outsourcing its operations. Reporting by Anirudh Saligrama in Bengaluru; Editing by Subhranshu Sahu and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: TikTok, TikTok's, Anirudh, Subhranshu Sahu, Sonia Cheema Organizations: Bloomberg, Financial Times, Los, Thomson Locations: Southeast Asia, Indonesia, China, Europe, Los Angeles, North America, Bengaluru

☆ TikTok reportedly wants to take on Amazon and 4x its shopping business this year — but it faces big challenges
▼ + stars: | 2023-06-08 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +3 min

It seeks to grow TikTok Shop from $4.4 billion in sales last year to up to $20 billion this year, Bloomberg reports. It faces big challenges in the US market where livestream shopping hasn't caught on. The global roll-out of TikTok Shop has faced some setbacks, however. The major social platforms like Instagram and YouTube have struggled to make livestream shopping a habit among US consumers. If TikTok hopes to ride the livestream shopping wave to go head-to-head with Amazon, something will have to change drastically in the way Americans shop.

Persons: TikTok, Patrick Nommensen, Insider's Marta Biino, Nommensen, Instagram Organizations: Bloomberg, Morning, TikTok, Street Journal, Financial Times, YouTube Locations: Southeast Asia, Indonesia, Asia, Europe, TikTok

☆ 10 Things in Tech: Apple Vision Pro, Big Tech's big AI salaries, and Marc Andreessen's plan to save the world
▼ + stars: | 2023-06-07 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Apple Vision Pro. Apple's Vision Pro looks amazing, but why buy it? The Vision Pro also comes with a host of caveats beyond the price tag, such as a battery life of just two hours. Read more about the Apple Vision Pro's limits here. He said AI companies should be able to build fast and aggressively — and without regulation.

Persons: Nathan Rennolds, let's, Tony Fadell, Apple, Salesforce's Marc Benioff, Justin Sullivan, Marc Benioff, Marc Andreessen, Travis Kalanick's, Adam Beswick, he's, grads, Z, Leigh Thompson, Jack Sommers Organizations: Apple Vision, Apple, Companies, Meta, Sony, Getty, Salesforce, Amazon, Oracle, Big Tech, CloudKitchens, Stanford, UCLA, USC, Sequoia Capital, Kellogg School of Management, Northwestern University Locations: London

☆ I made over $14,000 selling my fantasy books on TikTok Shop. It's a great way for indie authors to make money.
▼ + stars: | 2023-06-06 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

In the summer of 2022, he got access to TikTok Shop and began selling his books through the app. Last summer, I started using TikTok Shop as a platform to sell my books directly to people in the UK. Since I began using TikTok Shop, I've made over £11,000, about $14,000. With TikTok Shop, I end up with £2 or £3 per book more than when I sell through Amazon, on average. With TikTok Shop, I can only ship in the UK, so it's been a good way to tap into my UK audience.

Persons: Adam Beswick, He's, A.P Beswick, haven't, TikTok, It's, I've, — I'm, I'm, that's, it's, you'll, you've Organizations: KDP, Amazon Locations: TikTok

☆ A TikTok Shop exec breaks down the company's vision for the product and how it's wooing brands and creators
▼ + stars: | 2023-06-01 | by ( Marta Biino | ) www.businessinsider.com time to read: +7 min

With Shop, TikTok wants to replicate the success of commerce on its Chinese sister app Douyin. Patrick Nommensen, TikTok GM of UK ecommerce, discussed some of the details for brands and creators. TikTok has big ambitions for shopping and has been investing heavily in it — from developing a logistics business to powering in-app purchases through TikTok Shop. Overseeing TikTok Shop has been one of Nommensen's focuses. Nommensen said TikTok has been working with some high-tier creators and celebrities on a strategic basis to spread awareness around TikTok Shop, pairing them with merchants.

Persons: TikTok, Patrick Nommensen, It's, Nommensen, Nommensen's, livestreaming, Sellers, it's Organizations: TikTok, ByteDance, Street Journal, Facebook, Insider Intelligence Locations: Asia, TikTok, Musical.ly, Spain, Brazil, Southeast Asia, China

☆ TikTok Shop, a rising threat to Shopee and Lazada in Southeast Asia
▼ + stars: | 2023-05-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +7 min

CFOTO | Future Publishing | Getty ImagesTikTok Shop is a rising threat to major e-commerce players such as Shopee and Lazada in Southeast Asia. TikTok Shop is the e-commerce marketplace of short video app TikTok, which is owned by Chinese tech giant ByteDance. In 2022, TikTok Shop expanded to six Southeast Asian countries — Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand. TikTok is "focused on the continued development of TikTok Shop in Southeast Asia," said the spokesperson. To incentivize sellers to join the platform, TikTok Shop waived commission fees when it launched in Singapore in August.

Persons: TikTok, Shopee, Shawn Yang, Shop's, Sachin Mittal, Lazada's GMV, Jonathan Woo, Lazada, Shou Zi, Woo, bode Organizations: Blue Lotus Research Institute, Sea Group, DBS Bank, CNBC, Intelligence, Phillip Securities Research, TikTok, U.S, Merchants, SG, Phillip Securities Locations: Southeast Asia, India, Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand, Southeast, GMV, U.S, Statista, Brazil, China, U.S ., Montana, Texas, Nomieo

☆ Gen Z Fast Fashion, Live Shopping, Clothes Addiction Destroying Planet
▼ + stars: | 2023-05-17 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

The Gen Z paradoxGen Z's economic power is growing faster than other generations, according to Bank of America. In the US, fashion is the preferred category for entertainment spending among Gen Z, outranking dining out, video games, and music. A 2021 McKinsey survey found that 42% of American Gen Zers said they didn't even know what makes clothes sustainable. In addition to pushing people to buy more clothes, the buy-now, think-later model of live shopping also encourages people to buy clothes that are worse for the planet. To solve that problem, she founded Viviene New York in 2022, a Gen Z-led marketing agency that helps sustainable brands connect with Gen Z audiences through social media.

☆ TikTok has influenced nearly every aspect of book publishing and helped push sales to record highs. 25 insiders describe how it's changed their industry.
▼ + stars: | 2023-05-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +11 min

The BookTok phenomenon helped send book sales to an all-time high and reignite a love for reading. From authors to stores, the book world is turning to TikTok to drive sales and build community. Still, while authors might feel pressure to try TikTok, industry experts say it's better to focus on craft than marketing. Aster is one of the hundreds of authors who are benefitting from the success of TikTok and its book-related hashtag #BookTok. But TikTok's influence on publishing has also dialed up the pressure on authors to be marketers, as well as writers.

☆ YouTube is shutting down a shopping program it had been quietly testing with influencers
▼ + stars: | 2023-04-12 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +3 min

YouTube is shutting down a product-tagging shopping tool that it was testing. YouTube was paying some creators to test to the tool, part of a "tag products" pilot program. YouTube is shutting down a tool that let creators tag third-party products in their videos with shoppable links. Recently, TikTok has been quietly rolling out affiliate commissions for US creators in its shopping program. Instagram, on the other hand, shut down its test of a native affiliate program in July 2022, as Insider first reported.

☆ 3 new data points show TikTok's rise as an influencer-marketing platform and its hold on Gen-Z and millennial consumers
▼ + stars: | 2023-04-12 | by ( Nhari Djan | ) www.businessinsider.com time to read: +4 min

Two new reports show TikTok is influencing more purchases among Gen-Z and millennial consumers. TikTok's influence on shopping is growing among young people, according to new data from two reports. Influencer-marketing company IZEA found in a 2022 survey that Gen-Z and millennial consumers viewed TikTok as the best platform to promote a product through an influencer, ahead of Instagram and YouTube. The findings come as TikTok tests its shopping product TikTok Shop in the US, and recently started allowing creators to earn a commission for driving sales through the app. "This type of content allows brands to showcase their products or services in a more authentic and relatable way."

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