This chapter introduces TikTok Shop, the latest commercial venture from ByteDance Limited, the parent company that owns TikTok. They discuss how TikTok Shop is using its powerful discovery algorithm to connect users with products they're likely to buy and its ambitious goal of selling $17.5 billion worth of goods in the US by 2024.
Last year, TikTok Shop officially launched in the US. It’s the latest commercial venture from ByteDance Ltd., the parent company that owns the social media app. By creating its own marketplace — where users can find and buy products without leaving the app — TikTok hopes to compete with giants like Amazon. And TikTok is not being shy about its ambitions: according to Bloomberg’s reporting, it aims to grow the size of its US e-commerce business to $17.5 billion this year.
Small vendors like Scott McIntosh have been invited to TikTok Shop and encouraged to start live streaming their products, a tactic that has proven wildly popular in Southeast Asian TikTok Shop markets. Although skeptical of TikTok as a sales platform at first, McIntosh is now a believer. Will TikTok be able to win over the rest of the American e-commerce market?
See omnystudio.com/listener for privacy information.