TikTok has launched its Shop feature on its platform. TikTok Shop is a marketplace built into the TikTok platform, allowing consumers and creators to connect and engage directly with brands and sellers. In particular, TikTok Shop offers merchants and brands an online space they can connect with consumers keen to discover new brands and share fresh finds with others.
"Over the past few years, Singapore has exceeded its potential as a major eCommerce market, with its projected market volume expected to hit US$11.45 billion by 2025. As more people shop online, TikTok Shop presents the ultimate convergence of content and commerce with unique Shoppertainment experiences for all," said TikTok's new business marketing head, APAC Ng Chew Wee.
"In this way, TikTok Shop not only empowers local businesses to effectively tap onto the platform's fast-growing audience base to drive tangible business results but also affords the delivery of content that delights and entertains – resonating with the right audience across the discovery to purchase stages," Ng added.
Powered natively within the platform, TikTok Shops products are recommended to users via in-feed videos, live streams and a product showcase tab prominently featured on sellers' TikTok profile page – all of which can help increase orders, sales performance and video views. Additionally, sellers will also be able to tap into the rich variety of content formats to showcase their creativity, connect with their audiences and be discovered by the community. These include shoppable LIVE sessions and creator collaborations that can be easily forged using the TikTok Shop Affiliate Program, which connects creators with sellers through commission-based product marketing.
To incentivise sellers to join the platform, TikTok Shop is waiving commission fees for all merchants and only charging a 1% payment service fee. New customers will also be rewarded with vouchers when they choose to shop at TikTok Shop.
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