The company has been struggling big time in terms of having its commerce elements take off as not a lot of people were open to the idea of purchasing in-stream. But now, new reports are showing promising results and that could mean the tech giant could be dubbed as a powerhouse in the world of eCommerce soon.
For so long, a lot of comparisons were drawn to the platform’s competitor in the industry who happens to be Douyin in China. And while the latter is flourishing in this regard, TikTok just couldn’t seem to have followed suit.
Whatever the case may be, it’s super interesting to see how the app’s users are now willing to spend a lot in terms of content belonging to top creators of the industry. It’s become to such an extent that people are really generating their whole income through content found on the app.
As per the latest reports taken from The Information, a whopping $250 million was rolled out on the app in the form of digital gifts where live streamers were rewarded by audiences for their hard work and entertainment. And we’re talking about figures arising during Q3 alone.
This really highlighted a new trend that continues to grow as we speak and might be TikTok’s golden ticket to make more money via sales conducted on the app.
Other trends in focus included the likes of NPC Streamers. The latter is where some famous creators are sparking users’ interest about the practice where viewers are given the chance to send donations like virtual presents. The latter triggers new reactions from such streamers.
While it might not be a trend that lasts for years it’s certainly something new as it’s what the app needs to have fans spending more on the platform. And only after that can we see more people spending money on various other elements taking place in-stream such as goods and services arising through TikTok’s Shops.
But it’s still very new and the company is struggling to try and make big things happen.
In places such as the United Kingdom, we saw the app put plenty of trending products in the spotlight like Trendy Beat activating its eCommerce store and now making plans to have its own orders shipped out by itself.
So the idea in this regard is to provide users with the best experience when shopping online like quick delivery and that would allow them to spend more money and venture into new areas where the app is yet to explore. After that, we’re going to see more people working through stores that deal with in-stream activity.
As per recent reports, most trends prove how many Asian nations including China are more open toward such an approach where goods are found in-stream and you can make purchases at that right moment. Similarly, so many Western users continue to behave oppositely and are wary of apps being as online retail stores. And that is serving as a huge hurdle for TikTok.
Tech giant Meta has been trying hard for years to venture into this domain while Elon Musk also trying to carve a niche of the same through his X platform. However, neither has been successful and the West just isn’t used to this concept that has taken off with a bang in Asia.
Western audiences are more keen on shopping with retail outlets that are more trusted as compared to using social media apps to make their purchases.
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by Dr. Hura Anwar via Digital Information World
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