worldwide hit Social media The platform has started inviting merchants to run a beta version. TikTok shop Sales in these markets will begin before the official release of the in-app feature, scheduled for this summer, according to three people familiar with the matter.
But one of the people said TikTok Shop has tightened its standards for sellers. Eligible people in Mexico, for example, must have a locally registered business entity and will initially be restricted from selling certain types of goods, such as food and jewelry.
This development will significantly expand the presence of TikTok Shop, an in-app feature that allows users to purchase products directly from the platform, to a total of 13 markets around the world.
Last year, TikTok Shop was on track to record approximately US$20 billion in global gross merchandise value, with Southeast Asia accounting for the majority of its sales.Photo: Shutterstock
It also marks an accelerated pace of expansion for TikTok Shop, which had previously scrapped plans to open an online marketplace in 2022 after operating in France, Germany, Italy and Spain. Dew. England The Financial Times reported at the time that it had failed to meet internal targets and was unable to attract influencers.
TikTok did not immediately respond to a request for comment Thursday.
ByteDance initially launched a TikTok shop in the UK. Indonesia TikTok's online marketplace feature was introduced in the US last September.
TikTok has more than 15 million sellers worldwide, an increase of more than 6 million in the second half of 2023, the company said in its first TikTok Shop Safety Report last week.
U.S. President Joe Biden speaks after signing a $95 billion foreign aid bill and banning TikTok in the United States at the White House in Washington, April 24, 2024.Photo: Agence France-Presse
According to a recent report by Chinese media outlet 36Kr, TikTok has set a goal of reaching $50 billion in global gross merchandise value this year.
Meanwhile, TikTok and parent company ByteDance announced on Tuesday filed a federal lawsuit to block the U.S. law That would either force the popular short video platform to sell its domestic operations or ban it from all app stores nationwide. Their lawsuit argued that such a sale would be “commercially, technically and legally impossible.”
China's Ministry of Commerce has repeatedly said it opposes China's first forced sale of TikTok. app To achieve great success overseas. In 2020, the Chinese government updated rules governing exports to include technology covering the recommendation algorithm used by TikTok.
