TikTook Wants To Ban Links Of Other E-Commerce Websites For Users: Here’s Why – News18

TikTook is reportedly planning to ban hyperlinks to exterior e-commerce web sites resembling Amazon, because it ramps up its procuring platform within the US.

The transfer is seen as a manner for the corporate to pressure folks to make use of TikTook Shop in the event that they need to buy an merchandise that they see on the app, stories ‘The Information’. According to the report, TikTook Shop is on monitor to lose greater than $500 million within the US this yr.

“TikTook Shop, the app’s nascent procuring service, is predicted to lose greater than $500 million within the US this yr,” said the report, citing sources.

The loss reflects TikTok’s heavy investment in hiring, building a delivery network and “subsidising merchants that offer double-digit–percentage discounts and free shipping,” the report added. Consumers within the US are spending round $3-$4 million a day on TikTook Shop. The firm expects this determine to exceed $10 million by the tip of the yr.

TikTook, the brief video platform owned by ByteDance, launched on-line procuring service TikTook Shop in 2021, beginning in Indonesia. The procuring platform has turn into a powerful participant in Southeast Asia.

Last week, e-commerce big Sea reportedly mentioned it’s going to bump up investments in its on-line procuring enterprise Shopee throughout all markets as Chinese firm TikTook’s procuring enterprise expands into new territories.

(This story has not been edited by News18 workers and is revealed from a syndicated news company feed – IANS)