TikTok is taking the social world by storm! TikTok Shop is making inroads into the e-commerce world!

Taobao Live, a streaming app launched by Chinese retail giant Alibaba in 2016, reached its peak during the COVID-19 pandemic. In the first 30 minutes of China's annual Singles' Day shopping festival in 2020, Taobao Live transactions generated 7 billion euros in transaction volume, a 400% increase year-on-year.

The US market is eager to try in this competition, and applications such as Amazon, Shopify and YouTube are also gearing up. TikTok has also joined the group chat, first launched in the UK and has been a huge success in the United States.

In August 2021, TikTok and Shopify announced the launch of TikTok Shopping, a highly anticipated social commerce platform that will offer in-app purchases and faster product discovery. However, this feature is only available to users with TikTok Business accounts in the United States and the United Kingdom.

Brands such as Walmart, Olay or Target have already started testing with the new beta version of the social network. The brand profile has a small bag icon, similar to the Instagram symbol, showing various products and prices. Users can click on the article to get more details about the selected product, including photos or videos. For brands such as Pacsun, Revolve, Three Little Mingos, KimChi Chic and Willow Boutique, consumers only need to enter their name, phone number, address and bank information to place an order in the application.

Especially for Generation Z, who are using TikTok as a search engine. The goal of this new feature is to turn the social network into an end-to-end shopping platform, allowing users who search for "lipstick" or "best retinol eye cream" to check out within TikTok. TikTok Shop becomes a more illustrative tool than Amazon, highlighting more convenience in the purchase process, not only gaining a place with the distribution giant, but also consolidating its position ahead of other social networks such as Instagram.

It is learned that TikTok is the social network with more than 1 billion users at the fastest speed in the history of the digital economy, ahead of WhatsApp, Instagram and Facebook. Moreover, under the plunder of TikTok, the number of users of WhatsApp, Instagram and Facebook has increased less and less, and the main user groups are also concentrated in adults. Data shows that about 67% of users of these platforms are over 25 years old. Currently, no social network has a payment gateway for purchases, but TikTok Shop can.

Editor ✎Estella/

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