TikTok is reportedly launching a live shopping service by partnering with Los Angeles-based TalkShopLive , a buying and selling platform in North America . The Financial Times reported on Saturday that the companies have finalized the deal but nothing has yet been signed, citing two anonymous sources.
Currently, people can purchase products from TikTok, but only through sponsored posts by companies. TikTok has recently partnered with Penguin Random House so that when users mention one of the publisher’s books in a post, they can include a link pointing to a special page with information about the publication.
E-Commerce in Social Media is Increasing Rapidly
The e-commerce business on social media has begun to attract other companies as well. Meta , the parent company of Facebook and Instagram , launched the Facebook Marketplace in 2016 and said a few years later the feature had 1.1 billion users. The company did not release Marketplace revenues for 2021. In August, Meta said it was shutting down Facebook Live Shopping , a feature similar to its television shopping channel.
TikTok tried its shopping features in Europe, but ended the project when it failed to meet its sales targets. Live shopping on TikTok ‘s sister site in China, Douyin, sold more than 10 billion items between April 2020 and 2021, according to SEO Agency China, a Chinese digital marketing company .
In the future, it seems that many social media companies will install e-commerce services in some way, and these studies will be the basis of the projects we will see in the future.