TikTok to Amplify In-Stream Shopping Investment Tenfold in 2024

TikTok to Amplify In-Stream Shopping Investment Tenfold in 2024

The social media giant TikTok is getting ready for a big growth in its in-stream shopping business in 2024. People think that this move is an effort to copy the success of Douyin, its Chinese rival, which has made a lot of money from in-stream sales. As of now, in-stream selling has not caught on as well in the West as it has in China. This presents a unique problem for TikTok.

Live-streaming has become a big part of in-app shopping on Douyin in China, but people in the West aren't as excited about this way of buying. This reluctance could be because people are worried about TikTok's Chinese ownership or because people in the West aren't interested in live-streaming business in general. Even with these problems, TikTok is not giving up. Bloomberg says the company wants to make its online business in the U.S. ten times bigger this year, to up to $17.5 billion.

It's good for TikTok that people are spending more money on the app in general. TikTok users paid $3.8 billion on the app in 2023, which was 15% more than the year before. In the U.S., a big chunk of this money was spent on TikTok Coins, which can be used to buy fake items. This shows that U.S. users are willing to spend money inside the app, but they aren't actively buying things through TikTok Shop.

Using its local content feed, TikTok may add food delivery and other local services as part of its plan to increase in-app shopping. This method might make the app more useful and get people to spend more money inside the app. Additionally, TikTok is looking into ways to add goods that are similar to those sold by Temu, a Chinese store famous for its cheap deals.

Adding more ways to buy things on TikTok is important for both the site and the people who make videos on it. Since the Creator Fund is getting harder to use and ad share processes aren't quite ready to go, commerce connections give brands and influencers a more direct way to work together. However, TikTok's business plan still has a lot of unknowns and "ifs."

As TikTok moves forward with its plans to sell things, it will likely face more criticism and competition, especially from big companies like Amazon. It's too early to tell if TikTok's in-stream business will work in Western markets, but it has a lot of promise.

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