Universal faith Social media The platform has started inviting traders for trial runs of Tik Tok store in those markets ahead of the expected official launch of the in-app feature this summer, according to three people familiar with the matter.
TikTok Shop has tightened its standards for merchants, one of the people said. For example, people eligible to enter Mexico must have a locally registered entity and will initially be prohibited from selling certain types of goods, such as food and jewelry.
This development would significantly expand the presence of TikTok Shop, an in-app feature that enables users to purchase goods directly from the platform, to a total of 13 markets around the world.
TikTok Shop last year was on track to record around $20 billion in global gross merchandise value, with Southeast Asia contributing the bulk of sales. Image: Shutterstock
It would also represent an accelerated pace of expansion for TikTok Shop, which dropped plans in 2022 to open its online marketplace in France, Germany, Italy and Spain after operations in United kingdom The Financial Times reported at the time that the company had failed to achieve internal goals and attract influential people.
TikTok did not immediately respond to a request for comment on Thursday.
ByteDance initially launched the TikTok Shop in the United Kingdom and Indonesia in 2021, followed by five more countries in Southeast Asia in 2022. TikTok's online marketplace feature was introduced in the US in September last year.
TikTok has more than 15 million sellers worldwide as of December after adding more than 6 million in the second half of 2023, the company said in its first TikTok Store Health report last week.
United States President Joe Biden speaks after signing a US$95 billion foreign aid bill and a measure to ban TikTok in the US at the White House in Washington on April 24, 2024. Photo: AFP
TikTok has set a global target of US$50 billion in gross merchandise value this year, according to a recent report from Chinese media outlet 36Kr.
Meanwhile, TikTok and parent ByteDance on Tuesday A federal lawsuit was filed to block the US law That would force the popular short video platform's operations in the country to be divested or banned from all app stores nationwide. Their lawsuit said divestment was “simply not possible: neither commercially, nor technically, nor legally.”
China's Ministry of Commerce has repeatedly said it will oppose the forced sale of TikTok, the first Chinese company program To find great success abroad. In 2020, Beijing updated its rules governing exports to include technology covering the recommendation algorithms used by TikTok.
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