TikTok Shop has been officially introduced in Malaysia in an attempt to bring buyers, sellers, and content creators under one roof. The newfangled e-commerce solution from TikTok dubbed TikTok Shop is part of the company’s plan to accelerate local businesses’ growth. In a statement, the company said that the platform will be advantageous for SMEs (small and medium enterprises). Moreover, it will provide notable support for SMEs who haven’t yet set up a physical store to sell their products citing the high investment costs.
The strategy operations manager of TikTok Malaysia, Darren Quek noted that Malaysia’s total e-commerce income for the third quarter of 2021 was $63.9 billion (about RM279 billion). This is a significant 17.1 percent increase from Q3 2020. Quek points out that more Malaysians have been shopping online lately. So, TikTok wants to cash in on the skyrocketing popularity of online shopping by introducing a platform that connects creators and buyers. TikTok has a reputation for sparing no effort in a bid to offer unparalleled experiences to its users.
For instance, it was prepping to add a dislike button in the comments section under a video to further improve moderation. According to Quek, TikTok Shop has the potential to improve the overall e-commerce space in Malaysia. Aside from this, he believes it could encourage local businesses to take advantage of the opportunity to interact with their customers. However, this is barely surprising given that TikTok was one of the world’s most influential companies alongside Google, Amazon, and Apple last month, according to Time Magazine.
Gizchina News of the week
TikTok Shop Malaysia Goes Official
Now, TikTok Shop Malaysia has been available since February 24, 2022, as per its Facebook page. If you own a business, you can sign up to become a seller using your TikTok account. All you need to do is to head straight to TikTok Shop Seller Centre and follow the signup instructions. Furthermore, TikTok Shop boasts an impressive array of solutions. They enable sellers to sell their products directly from their TikTok accounts. Users receive product recommendations through in-feed videos and live streams.
In addition to this, there’s a product showcase tab available on the sellers’ profile page. It allows other users to choose the product they’d like to get their hands on. So, these unique TikTok Shop features not only help boost video views but also increase sales performance and orders. Furthermore, sellers will be able to manage multiple tasks such as uploading products. Also, they can enjoy a full e-commerce experience including shipping to fulfillment without leaving the TikTok app.
According to TikTok Malaysia, 44 percent of TikTok users make purchases spontaneously. Further, to encourage more sellers to join, TikTok Shop is currently charging only a 1 percent payment service fee. It charges zero commission fees for its sellers at the moment. As if that weren’t enough, it offers up to six free shipping vouchers every month to its existing customers. Likewise, new customers will receive an additional voucher for using TikTok Shop.