Wednesday, February 28, 2024

Polaris of Enlightenment

Wednesday, February 28, 2024

Polaris of Enlightenment

New feature from TikTok makes all content purchasable

Published 1 February 2024
- By Editorial Staff
The new feature allows anyone to tag product content and receive a commission for each product sold.

TikTok is testing a new feature that automatically identifies products in posts and allows viewers to find similar products in the TikTok store. The feature allows anyone to tag products and earn a commission for each product sold.

TikTok Shop was launched in the United States in the fall of 2023, where you can add your own products for sale, among other things. The idea was that when so-called influencers market products via the social media app, their followers should “avoid” going to an external link and be able to buy the product directly in the app. Reviews of the feature have been mixed, with some reporting record sales and others saying there are a lot of counterfeit products for sale.

A new feature tied to TikTok Shop is now being tested, Bloomberg reports. The feature uses new technology that automatically identifies items in TikTok videos and then prompts users to find similar products on TikTok Shop. Then, with a single click, users are taken to a full page of similar products found in the video that can be purchased through the app.

US revenue goal: $17.5 billion

In practice, this means that all content on the app will be purchasable to “extend the shopping experience”. All users will be able to tag products in their content, which will then direct their viewers to the purchase page. Users can then earn commissions on purchases made through their posts. Previously, only influencers were able to tag products and earn commissions on their content.

The new venture is a top priority for TikTok, which aims to sell $17.5 billion worth of goods in the U.S. this year, according to Bloomberg.

Facts: TikTok

TikTok's parent company ByteDance Ltd. was founded by Chinese entrepreneurs, but today 60 percent of the company is owned by global institutional investors such as the Carlyle Group, General Atlantic, and Susquehanna International Group. Another twenty percent of the company is owned by ByteDance's employees around the world, including nearly seven thousand Americans. The remaining twenty percent is owned by the company's founder, who is a private individual and does not belong to any state or government agency.

Source: TikTok Sweden


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