Tiktok abandons Europe and U.S. "live shopping" project
What: Tiktok abandons the deployment of its project in the face of the weak returns encountered by the process.
Why it is important: Despite Tiktok’s abandonment of bringing “live shopping to the West”, the market remains in the line of sight of many players like Amazon or Twitch.
After being one of the most downloaded apps during the pandemic, Tiktok’s addition of short or live videos onto the platform led to the ambition of bringing live shopping in the West. Live shopping has indeed experienced unprecedented growth in Asia since 2017, 280% per year until 2020, according to a report by McKinsey.
Live shopping still arouses ambitions at Facebook, Twitter, Pinterest, and Ebay which deployed a platform dedicated to direct sales this year.
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