TikTok Partners With Cymbio on Live Shopping Feature WWD – WWD
TikTokhas a new partner that can help the social media giant push product to consumers as part of itsrecently launched shopping pilot.
Cymbio, a solution designed to enable brands to start selling on multiple marketplaces at once and offer dropshipping capabilities, revealed it is helping power the controversial platforms TikTok Shop feature, which gives brands a potential reach of 150 million U.S. consumers.
TikTok Shop is available in the U.K., as well as Southeast Asian countries includingIndonesia, Vietnam and Singapore among others, and is expected to expand beyond trial mode in the U.S. market by the fourth quarter of 2023.
The shopping feature is designed to enable merchants, brands and creators to easily showcase and sell products directly within the TikTok app. Where Cymbios technology comes in is by embedding a brands product data and information to TikToks in-video, live shopping offering.
Apparel brands likePacSun,Revolveand Willow Boutique are among the first sellers that have joined the trial. Users who want to shop these brands products can tap on the shopping bag icon on the brands profile to view their catalogues and complete the checkout process without leaving TikToks app. TikTok says it will take a 5 percent commission on each in-app sale a business makes.
Cymbiosdigital commerce enablement platform is built for brands of any size to access a centralized platform where they can have a hands-off approach to their back-end operations in an effort to scale sales across various channels. The platform can automate the management of marketplaces, dropship and social media sales and operations, including data integration, set-up, mapping, taxonomy, onboarding and daily management of a brands operational needs.
With Cymbio, for example, brands leveragingTikTok Shopcan automate the processes of listing products, managing inventory, streamlining order processing, fulfillment and tracking orders and analytics.
Partnering with Cymbio is a great choice, allowing for seamless and quick connectivity and automation to our platform, said Sandie Hawkins, head of TikTok Shop, in a statement. Brands such as New Balance can easily monetize on TikTok, reducing shopping friction and engaging buyers at the exact moment of interest. We look forward to seeing this partnership flourish and helping brands grow.
The company has provided its services to major names in the fashion industry such asNew Balance,Authentic Brands Group,Steve Maddenand Camper in an effort to help them get in front of new customers and channels. Through Cymbios platform, these brands have been introduced to retailers and marketplaces including Farfetch, Kohls Corp.,Macys Inc., Dillards Inc., Saks Inc.,Urban Outfitters Inc., Walmart Inc., Zappos and others.
We are thrilled to partner with TikTok, enabling brands multichannel opportunities to reach a brand new, highly engaged audience via TikTok Shop, said Roy Avidor, chief executive officer and cofounder of Cymbio, in a statement. We are humbled and excited to expand and value TikTok Shop as a high-growth opportunity for brands of all sizes.
Social commerce in general has had plenty of attempts to get off the ground, but U.S. consumers havenever committedto buying off of the platforms. After pushing itsShop featureheavily during the COVID-19 pandemic, Instagram removed the Shop tab in January and shuttered its livestream shopping feature on March 16. Instagrams sister social network Facebook also shut down itslive shopping featurein October to shift its focus to its short-form video feature Reels.
But TikTok apparently has been able to at least convince people to buy a product elsewhere after seeing it on the app perhaps influencing the companys decision to go forward with TikTok Shop. The phrase TikTok made me buy it has garnered 7.4 billion views across videos on the platform, in fact, and the hashtag has generated a whopping 47.2 billion views.
TikTokcontinues its attempt to capitalize on social commerce as doubts seep in about the future of the platform in the U.S. amid concerns of its data collection methods.
In a five-hour hearing on Thursday, TikTok CEO Shou Zi Chew was grilled by Congress over the firms use of consumer data, its parent companys potential ties to the Chinese government and the apps impact on mental health.
Lawmakers across the aisle have been critical of the platform, with some calling for either an outright ban on it and others calling for a sale by the China-based parent, ByteDance. U.S. Secretary of State Antony Blinken said on Thursday that TikTok should be ended one way or another, and there are different ways of doing that.
To date, U.S. lawmakers have offered no evidence of TikTok harming U.S. national security interests.
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TikTok Partners With Cymbio on Live Shopping Feature WWD - WWD
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