Luo said she was not quite sure how to answer. “If there hadn’t been this [bill], I would definitely recommend them to do so in the US,” she said, adding that her business in the US is “certainly more profitable” than those in other markets. TikTok Shop is the e-commerce service of the globally popular … Read more
Douyin Mall was launched last week as a downloadable app for Android users in mainland China, the world’s largest smartphone market. An Apple iOS version of the app was not released as of Tuesday. The new app serves “as an extension of the Douyin platform, designed to elevate the overall shopping experience of [its] existing … Read more
“Reluctantly, we will bid farewell to many valued members of the Daraz family,” acting chief executive James Dong said in an internal memo published on the company’s website on Tuesday. Alibaba, owner of the South China Morning Post, acquired Daraz in 2018. “Despite our efforts to explore different solutions, our cost structure continues to fall … Read more
TikTok is testing a feature that could make all posts shoppable, the social media company’s latest move to create a multibillion-dollar US e-commerce business. The new feature uses technology to identify objects in a video automatically. Then it encourages viewers to “find similar items on TikTok Shop” by clicking into a page of products, according … Read more
This week, TikTok announced that it would be cutting back its spending on the TikTok Shop service. TikTok informed its TikTok Shop sellers in the US, that the company will be increasing its commission by more than five per cent and raising its charges for each transaction. The higher commission rates and consumer charges come … Read more
“With advances in AI, we are ushering in the next generation of sourcing and empowering small businesses to succeed with our Smart Assistant at their side,” Chris Lu, general manager at Alibaba.com North America, said in a statement last week. The Alibaba.com booth features the e-commerce platform’s artificial intelligence-powered Smart Assistant, designed to help users … Read more
TikTok, the global hit short-video platform owned by ByteDance, aims to grow the size of its US e-commerce business tenfold to as much as US$17.5 billion this year, according to people familiar with the matter, posing a bigger threat to Amazon.com. The 2024 merchandise volume goal for the US version of TikTok Shop – which … Read more
Short video app TikTok has become the first entertainment mobile app that is not a video game to rake in more than US$10 billion in global user spending, according to a new report, as its Beijing-headquartered parent ByteDance continues to see strong revenue growth despite political headwinds. The app known for seconds-long viral content is … Read more
Shares in GoTo, whose business includes ride-hailing, delivery and financial services, tumbled 8.3 per cent after the announcement, as some investors took profit from the stock’s recent rally on expectations of a deal with TikTok. A billboard advertising GoTo’s initial public offering in Jakarta, Indonesia in 2022. . Photo: Bloomberg “We need to see what … Read more
