Emerging reports reveal that Tiktok is partnering with TalkShopLive to launch a live shopping service focused on the Noth American market. According to reports from unconfirmed sources, both firms have finalized the agreement but nothing has yet to be signed.
This would be an interesting move given that it follows recent news that the Chinese Big Tech had plans to scrap live shopping launch in the US and Europe. The earlier report had said that the company would abandon expansion plans in the West after a less than impressive test run in the UK.
But the fact that Tiktok decided to collaborate with an existing live shopping app reflects a change of strategy. TalkShopLive is a live streaming buy and sell platform that was launched in 2018. Based in Los Angeles, it enables users to host live shows, sell, and/or buy internationally through an engaging social platform.
While users can already purchase items on Tiktok, it happens through sponsored posts – not live streams. Live shopping has proved to be one of the most disruptive eCommerce trends in recent times. The sector is already generating hundreds of billions of dollars annually in Asia and is expected to pick up in the US and other Western markets.
Read: Why Live Shopping is Such a BIG Deal
Tiktok isn’t the only major social media company that has shown interest in live commerce. Meta launched its Facebook Live Shopping and Instagram Live Shopping a few years back. The company however decided to shut both services as it looks to re-align and perhaps even attempt a more strategic re-entry.
Amazon Live – the eCommerce giant’s live shopping platform – is one of the leading social commerce providers in the US. YouTube recently announced that it is partnering with Shopify to build an expansive live shopping ecosystem reaching hundreds of millions of users.
Live shopping is already expected to capture a significant market share of eCommerce retail shopping. It’ll be interesting to see which other companies make a move especially early on when users are just getting accustomed to the trend.
