TikTok updates roundup: Ecommerce ambitions, search news, AI … – Insider Intelligence
This year, TikTok aims to quadruple the size of its global ecommerce business, and is expected to launch its own US ecommerce store soon. The platform is also leveraging new search features to become a hub for retail ecommerce, pushing new AI ad tools, and getting involved in a host of new media ventures. Here’s what the platform has been up to over the past month.
Ecommerce ambitions
TikTok plans to generate $20 billion in sales via TikTok Shop this year. In addition to pushing live ecommerce and incentivizing retailers via free listings and shipping, the platform is expected to launch an entirely separate online retail store in the US. The store, which is separate from TikTok Shop, will exist within the app, likely putting it in competition with Amazon, Shein, and Temu.
The shop could present logistical and customer experience challenges, our analyst Suzy Davidkhanian said on our “Behind the Numbers: Reimagining Retail” podcast. “I actually am a little bit surprised that TikTok…
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source: https://news.oneseocompany.com/2023/07/07/tiktok-updates-roundup-ecommerce-ambitions-search-news-ai-insider-intelligence_2023070747355.html
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