TikTok is apparently the latest platform to make the shift from social media site to a glorified digital mall. On Tuesday, Bloomberg reported that TikTok has started floating the idea of in-app shopping to brands over in Europe, hoping to hook young EU shoppers—and their wallets—in the process.
These features are TikTok’s latest attempt to get a slice of the “social commerce” pie, which is the insider term for shopping that gets squeezed into a given social media platform. By the end of 2020, some analysts estimate that folks across the country spent close to $475 billion, and that number’s expected to shoot towards $585 billion by the end of this year.
Source: TikTok’s Exploring In-App Shopping and Video Resumes