Sphere of Influencers: TikTok Setting Up Big Ecommerce Moves
Despite a rough ride with U.S. legislators in the spring of 2023, TikTok is not holding back in its plans to rapidly expand its ecommerce earnings
After last year’s Prime Day sales, Amazon admitted that a big part of their success was a sales strategy that ALL ecommerce sellers should probably take a closer look at, Livestream Shopping.
Now, TikTok appears to be quadrupling down on that strategy.
As reported Wednesday, June 7 by Bloomberg News, the massive Chinese social media platform plans to grow its ecommerce sales from $4.4 billion in gross merchandise value to $20 billion, sources familiar with the matter have said.
This development comes at the same time that TikTok faces increased scrutiny from governments and regulators because of concerns that China could use the software to harvest user data for its own interests.
ByteDance-owned TikTok is reportedly relying on growth in Southeast Asia, an area where influencer videos have become increasingly popular (and effective) with consumers. Much like other “live” selling platforms, TikTok’s ecommerce platform will allow customers to purchase goods through links on the app during live broadcasts.
Although it accounts for a much smaller slice of their overall sales, it’s clear that TikTok hopes to expand its American and European efforts.
The continued rapid growth of influencer marketing is directly linked to the rising popularity of short-format video on platforms such as TikTok, Facebook, and YouTube.
That’s why, once you’ve covered the basics with your online business, it’s a good idea to pay attention to new “social commerce” strategies such as these that will help put your products in front of buyers wherever they happen to be.
Canopy Management’s industry-leading pros are experts at Amazon Account Management, Listing Optimization, and Amazon Advertising, the three pillars of Amazon success. We’re also perfectly positioned to help you take the next step up with exciting new off-Amazon advertising strategies.
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Canopy Management is a full-service marketing agency for Amazon and Walmart sellers. Our team consists of former Amazonians, multi-million dollar sellers, and award-winning experts.
When you consider the many ways that Canopy Management can help you grow your business, you’ll see why selling on Amazon is much easier “under the Canopy.”
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