Everything You Need to Know About TikTok Shop

8THIRTYFOUR Blog TikTok Shop Blog TikTok icons of a shopping cart and add to cart

TikTok has emerged as a cultural phenomenon, captivating millions with its short-form videos and viral trends. But now, it’s not just about viral dances and lip-syncing. With the introduction of TikTok Shops, the social media platform is set to revolutionize the way we shop and engage with brands. TikTok Shop is nearly a year old, and its growth has been astonishing. It did feel scammy at first, but now that credible brands have embraced it, we have to wonder-is this the new Amazon?

Why it’s a big deal

TikTok is the fastest growing social media platform with 1.67 billion users, so it’s no wonder that TikTok would want to make money off of the millions of interactions that happen every second on the app. With the trend of “Tiktok Made Me Buy it”, the opportunity for an e-commerce marketplace was there.

Since the development of the TikTok Shop, their goal for 2024 is to have a revenue of $17.5 billion from TikTok Shop alone, with last year generating a revenue of $11.09 billion. A somewhat lofty goal I would say, but TikTok thinks otherwise.

Sometimes referred to as “YouTube on steroids”, TikTok’s algorithm seamlessly pumps your fyp page with videos made for a larger audience, but its diversity of content makes it even more appealing. With most uploaded videos averaging 15 seconds long, our attention spans are becoming just as short, causing TikTok to get creative with maintaining engagement.

The big deal is that TikTok Shop is firing up their already prolific instant-gratification pipeline. TikTok has integrated scrolling with shopping, a dynamic duo that is changing the way consumers view in-app purchases. It’s quick, it’s easy, and not to mention, has a reputation for being very cheap.

Recently, TikTok Shop has garnered its reputation for being scary cheap, and I mean “$1 for a luxury bottle of perfume” cheap. Tiktok’s goal behind massive product discounts was to persuade shoppers to make in-app purchases because the deals would be too good to pass up. Even though this sounded like a good idea for Tiktok, the “too good to be true” appearance of it all made the TikTok Shop seem sketchy.

The reviews were mixed from the beginning. Big and small creators were expressing their enthusiasm for TikTok Shop for being compatible with Shopify, while some perceive it as a glorified Amazon. Small businesses reap the benefits of TikTok Shop’s generated coupons, along with the one-hour window of time to use the coupon. The sense of urgency surrounding deals and TikTok extending their own discount has really set them apart from other e-commerce giants, and its popularity has seen an exponential rise. 

8THIRTYFOUR Blog: TikTok Shop two people browsing their phone on TikTok

The future of shopping

TikTok Shop is a game-changer for e-commerce, bringing together the power of video content and the ability to make purchases seamlessly within the app. With the click of a button, users can explore and buy products directly from their favorite creators or brands. This seamless integration of shopping and entertainment is paving the way for a new era of social commerce.

One exciting feature of TikTok Shops is the ability for creators to go live and sell products in real-time. This innovative approach allows for a more interactive and engaging shopping experience. Creators can showcase their products, answer questions from viewers, and demonstrate the features and benefits of the items they are selling. It’s like having a virtual shopping assistant right at your fingertips.

The live selling concept has gained immense popularity, with viewers eagerly tuning in to these live shopping events. It’s an opportunity for both creators and viewers to connect on a deeper level, fostering a sense of community and trust. As viewers see the products in action and hear firsthand reviews and recommendations from their favorite creators, it adds a personal touch and builds confidence in the purchasing decision.

Going live on TikTok offers immense potential for creators to leverage their influence and monetize their content. By partnering with brands or selling their own merchandise, creators can tap into a new revenue stream and further grow their online presence. This symbiotic relationship between creators and brands is reshaping the traditional model of advertising and opening up exciting possibilities for the future of marketing.

As TikTok Shops continues to evolve and gain momentum, the potential impact on the e-commerce landscape is undeniable. With its engaging and immersive features, combined with the authenticity and influence of creators, TikTok Shop has the potential to transform the way we discover, engage with, and purchase products online.

The future of people using TikTok Shop and the live selling feature looks promising. The combination of entertaining content, direct purchasing capabilities, and real-time interaction between creators and viewers creates a unique and compelling shopping experience. So get ready to go live, explore exciting products, and discover a whole new way to shop on TikTok. It’s time to embrace the future of e-commerce and join the TikTok shopping revolution.

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