"TikTok abandons E-commerce expansion in Europe and the US" 
In 2021, TikTok Shop was launched in the UK - its first market outside Asia, allowing companies and influencers to sell products through QVC-style live streams. However, the venture has struggled to gain traction with consumers and suffered from internal problems.
TikTok is a large part of social commerce - an industry expected to reach $80 billion by 2025 .
While this industry was growing, TikTok has made a unique and significant contribution. This is especially because of the natural tendency of its users to engage in social shopping. In a 2020 survey by TikTok, two-thirds of respondents said they were inspired to shop on the platform even though they were not planning on it .
Take, for example, the viral hashtag #TikTokMadeMeBuyIt. Since its birth, the hashtag has generated 11 billion views - and is still being used today by consumers and merchants to discover new products and jump on hot trends.
The Clock Is Ticking: Now's the Time to Use TikTok for E-commerce
The recipe for success:
TikTok's success is based on a few elements that make it stand out from other social platforms:
- Exclusively video content that is short, snappy, and can contain rapid successions.
- A fun, lighthearted, authentic feel that does not have a stuffy undertone.
- Emphasis on trends that is based on cultural relevance.
- Appeal to a broad demographic segment with groups based on age bracket…
This media platform is becoming the most successful in creating a hype and setting a trend for any style and fashion. Hence, proving its worth as an efficient place to market product through influencers and #hashtags.