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15 April 2021
TikTok unveils a suite of in-app e-commerce tools
E-commerce & mobile retailWebsites, online services, appsDigital media planning & buying
TikTok, the video-sharing platform that has a strong following among young users, is reported to be planning to launch a range of new shopping tools and ad offerings in a bid to boost its e-commerce potential.
This is according to a leaked pitch deck seen by Business Insider and already submitted to various advertisers in the US.
The first new option is ‘Collection Ads’, which will enable brands to combine their product catalogue listings and branded videos, so that users can be guided to relevant products from their video clips.
‘Dynamic Product Ads’, the second new option, automatically retargets users with relevant products according to their activity in advertisers’ apps and websites.
‘Promo Tiles’ will enable advertisers to add customisable sales and promotional alerts to their in-feed ads.
Finally, ‘Showcase Tiles’ allows video creators to promote products via a linked thumbnail at the bottom of the screen. This is similar to TikTok’s ‘Douyin’ app in China which now generates the majority of its revenue from in-app commerce rather than from ads.
TikTok also claims that it now has more than 100 million monthly active users in the US and 732 million globally.
“Younger audiences [also] have a major impact on spending, even if indirectly, which is why these new e-commerce integrations are so critical and will play such a key role in the app’s future development” – Andrew Hutchinson, Social Media Today.