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    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

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    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

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    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

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    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

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    Owls inspire new revolutionary noise reduction technology – KTEN

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    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

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    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

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    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

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    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

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Can TikTok Shop Take on Amazon? That’s the Plan for 2024

January 8, 2024
in Entertainment
Can TikTok Shop Take on Amazon? That’s the Plan for 2024
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TikTok Shop

Photo Credit: freestocks

TikTok is hoping to take on Amazon’s dominance over online shopping by growing its TikTok Shop commerce platform this year—to the tune of $17.5 billion or more.

A recent Bloomberg report indicated the TikTok Shop metric as a merchandise volume goal that was discussed internally within the company. TikTok aims to elbow room for itself at the table of e-commerce alongside giants like Amazon, Temu, and Shein. With the assistance of its short-form video platform and millions of users to make products go viral—that goal might not be too far-fetched.

TikTok Shop’s success in Asia has the company turning its sights to the United States to begin market domination here. Bloomberg reports TikTok amassed around $20 billion in global gross merchandise, though the bulk of sales were from Southeast Asia. As TikTok turns its sights to the Americas, it plans to launch TikTok Shop in Latin America in 2024.

Black Friday 2023 was a great introduction to the platform for many Americans, as Bloomberg reports more than five million new U.S. customers bought at least one item via TikTok Shop. The TikTok social media platform currently has around 150 million users in the United States, so there is plenty of room for the platform to grow.

TikTok Shop launched in the United States in September 2023, allowing creators to tag products from in-feed videos. It also has a dedicated tab to allow users to search for items and discover products through recommendations. During its introductory period, TikTok only charged 2% commission on these recommendations.

A new report suggests that rate may go up to 8% in the near future as it reduces subsidies it pays to merchants. Amazon seller fees are currently 15%—making TikTok Shop more lucrative for those looking to sell. Undercutting Amazon’s seller fees is a great way to attract additional attention to the platform from those looking to reach a broad audience.

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Copyright for syndicated content belongs to the linked Source : DigitalMusicNews – https://www.digitalmusicnews.com/2024/01/04/can-tiktok-shop-take-on-amazon-2024/

Tags: AmazonentertainmentTikTok
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