[eMarketer] TikTok abandons plans to bring livestream ecommerce to the US

TikTok has scrapped plans to bring its live ecommerce initiative to the US and other European markets after a failed UK pilot, per the Financial Times.

Platforms like Meta and Pinterest hope to use livestream shopping—and, by extension, social commerce—as insulation from the fluctuations of the digital advertising market and Apple’s privacy changes.

It’s not surprising to see TikTok attempt to cut its losses as higher interest rates and market uncertainty force businesses to focus on their core revenue streams. However, its decision to cut back on social commerce despite being a major driver of trends and purchase intent signals that the market for livestream ecommerce is not yet worth the effort.

According to eMarketer,  It will be some time before livestream shopping adoption in Western markets reaches the level of penetration seen in Asian countries. At the same time, by putting its livestream shopping plans on ice, TikTok is leaving the door open for other platforms to take the lead.

Read the full eMarketer article here

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