TitkTok has opened its app store to users in Spain. As reported a few weeks ago, the popular video platform has given the green light to roll out TikTok Shop in Europe. This new feature will allow users to purchase videos and any other content from their favorite creators.
According to the official statement, TikTok Shop will provide a variety of features to content creators and businesses. The first one, Live Shopping, will allow you to buy products in real time live. If one of the accounts you follow does streaming To promote one of your products or services, you can purchase it live and interact with it via chat.
Tik Tok Store also offers a product showcasemore like an online shopping experience. This feature, designed for brands, offers the opportunity to explore newsletters or read reviews from other users. Showcases support the creation of collections of multiple products that will be displayed on a TikTok user’s profile.
With the new feature, TikTok aims to boost revenue while competing with e-commerce giants. The social network has an advantage that its competitors do not have: an established platform with millions of potential buyers. Reportedly Bloomberg, TikTok Shop tripled sales last Black Fridayexceeding $100 million in the US.
Now it’s Europe’s turn, and Spain will be the first country to have access to the platform’s new feature. To increase sales, TikTok has partnered with some local sellers such as Oh Juliette, which sells evening dresses, and Cocunat, a beauty brand that publishes video tutorials and tips.
How much does TikTok Shop charge to sell products on its platform?
Like other platforms, selling on TikTok Shop requires additional costs. the commission for using the platform is 5% of the total order amount. This amount includes all applicable taxes such as VAT. According to the help page, the commission is calculated from the amount paid by sellers plus the platform discount.
Commission = (Net profit + Platform discount – Client refund – Platform discount refund) * 5%
According to the formula, If you sell a pair of shoes for 1000 eurosbut if you apply discounts, refunds and shipping costs, you will get 950 euros, this figure you multiply by 5%. Using the formula, TikTok store will save 47.5 euros this sale.
The company mentions that may offer reduced fees for a limited timeas part of the seller’s incentives. This will most likely happen when TikTok Shop debuts in Spain, although it will be temporary.
The Chinese company mentioned that the store function available for companies registered in Spain who want to sell their products through TikTok Shop. Stores can read the instructions on the website for information and courses for selling online. Registration will be open to from February 2025.
Source: Hiper Textual
I am Garth Carter and I work at Gadget Onus. I have specialized in writing for the Hot News section, focusing on topics that are trending and highly relevant to readers. My passion is to present news stories accurately, in an engaging manner that captures the attention of my audience.
