TikTok is going to launch an eCommerce platform very soon
TikTok owner Byte Dance is going to launch a cross-border eCommerce platform similar to Alibaba’s AliExpress
TikTok’s owner ByteDance will launch an international eCommerce platform. According to sources, Byte Dance will unveil its eCommerce platform in coming month of October. Previously there were rumors that developers are considering to merge TikTok within the eCommerce platform but now the news has emerged that the new eCommerce platform will be entirely different from the social media platform.
The business of buying and selling online has increased exponentially since after the pandemic subsequently giving rise to the development of eCommerce platforms. Because of the ease and convenience, these platforms have provided to the customers it seems like this trend among consumers of utilizing eCommerce platform for shopping purposes is not going to abort anytime soon. This is one of the reasons that TikTok assessing the potential of the eCommerce market has moved to capture the bigger piece of the pie. Yet, TikTok is not the first social media app to move towards the eCommerce market as earlier this month Facebook released its set of eCommerce suit, and WhatsApp too this week attracted its users to its WhatsApp pay feature with cashback reward.
Social media platforms taking advantage of their massive number of users are attracting people towards their eCommerce platforms. Because eCommerce platforms are now going occupy the major chunk of the eCommerce industry. As also evident from statistics that by 2040, 95 % of all purchases will take place via eCommerce.