TikTok is about to break ground with its new collaboration with TalkShopLive.
TikTok is reportedly partnering with live shopping platform TalkShopLive to take shopping into live streams. As the Chinese company works towards launching its live shopping platform, reliable sources revealed that the service is intended to let US users buy directly from live streams.
According to the report, TikTok and TalkShopLive are yet to finalize the deal, and no agreements have been signed yet. Also, it said the short-form video hosting service is planning to launch the live shopping platform in North America by outsourcing its operation.
TikTok to Partner with TalkShopLive
Bytedance-owned TikTok Shop launched in the UK last year. The feature allows the app users to buy products through links during live broadcasts. The shopping platform is also available in several Asia markets, such as Vietnam, Malaysia, and Thailand. While the social media platform experimented with live shopping in the UK last July, it encountered some challenges. The company halted the experiment citing internal problems and the struggle to gain traction with consumers.
TalkShopLive describes itself as a “live streaming, social buying and selling platform.” It allows sellers to create a channel and add the items they wish to sell. So when the sellers go live, the products appear in a sidebar, and interested persons can check out what is available and add them to their cart. Now, TalkShopLive will integrate into TikTok to work on TikTok Live.
Yet again, TikTok is about to break ground with the new collaboration with TalkShopLive. Last year, the Chinese company generated $4.6 billion in revenue from both ad sales and in-app purchases of its coins.
TikTok is continually expanding its reach worldwide. The social media app, which gained popularity during the lockdown, has managed to gain the attention of many- both young and old. More interestingly, the in-app effects and video editing tools have made it easy for users to create content. Reports showed months ago that TikTok was adding gaming functionality in Vietnam. A spokesperson revealed that it had done trials with HTML5 on the app by collaborating with Zyga Inc. (NASDAQ: ZNGA).
As a matter of fact, many become content creators simply by using their TikTok app. As the app keeps its growth momentum, it recently broke the record as the highest-grossing app in the world in the last quarter. A Sensor Tower report noted that the app generated the most quarterly report for the fourth quarter in a row. TikTok amassed approximately $914.4 million in consumer spending in Q3. This made the app the No. 1 revenue-generating non-game app on the App Store and brought its lifetime total to about $6.3 billion.
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