In 2024, TikTok is a platform with over 1.8 billion active users worldwide. It stands in the front rank among social media platforms. It allows businesses and individuals to reach and engage with their audience in an easy and engaging way.
The newly established TikTok Shop represents a shift in the e-commerce industry. At the same time, it’s a new challenge for established giants like Amazon, Etsy, and Shopify. In this article, we are to explore how you can sell via the TikTok Shop, its features, and how you can use the platform to expand and grow your business.
Please, note we do not provide consultations on how to set up and sell on TikTok Shop. If you have a company in the UK and wish to start selling on TikTok, our team of professional accounting managers will assist you in preparing and filing returns to HMRC.
Setting up a TikTok Shop in Ireland?
To sell via TikTok Shop as an Irish business, you’ll need a registered Irish company. We handle company formation from A to Z — packages from €199.
How it All Started
TikTok, which is otherwise known as Douyin, was established in 2016, in China. Next year its international version was launched. It quickly won the hearts of many through algorithm-driven content discovery that kept users scrolling through endless streams of videos. Originally, TikTok was used only by individuals who wanted to showcase their talents in lip-syncing and dancing.
However, TikTok’s evolution into a shopping platform began with its own in-app shopping features and partnerships with various brands. This significant change highlighted a growing trend where social media merges with e-commerce, allowing users to shop seamlessly without leaving the app.
Features
TikTok offers a mix of entertainment and commerce, providing users with an interactive shopping experience. Let’s explore features that TikTok Shop provides for shoppers and sellers:
- In-Feed Video and LIVE Shopping: Customers can shop tagged products directly from videos and live streams featured in their For You feed.
- Product Showcase: Users can explore product tiles, read reviews, and purchase from their favourite brand’s profile. Businesses have the option to curate personalised product collections on their profile pages.
- Shop Tab: A dedicated marketplace where businesses can display their products, making it easy for customers to search for and discover promotions. Product recommendations are highlighted through listings and shoppable content, allowing customers to manage their orders all in one place.
- Affiliate Programme: Creators can partner with sellers through commission-based marketing opportunities. This programme allows creators to monetise their creativity by promoting products in short videos and livestreams, while sellers can select an Affiliate plan that aligns with their brand.
- Shop Ads:New advertising options enable sellers to promote their TikTok Shops, helping customers discover and complete purchases seamlessly within the platform.
- Fulfilled by TikTok: A logistics solution that allows merchants to focus on their products, while TikTok Shop handles storage, picking, packing, and shipping directly to customers.
- Secure Checkout: TikTok collaborates with trusted third-party payment platforms to ensure a quick, smooth, and secure checkout experience. All user data is protected and stored in the US, managed by USDS (United States Data Security Inc).
Where to Sell on TikTok Shop
As TikTok Shop expands, it’s crucial for potential sellers to know where the platform is available. Currently, the TikTok Shop is accessible in several regions, including:
- Asia: Indonesia, Malaysia, Thailand, Vietnam, Philippines, Singapore
- United Kingdom
- United States
UPD: Recently, TikTok shop has launched in Ireland. Irish Influencers and content creators are now able to sell amd promote products directly to TikTok users without having to go to other web services.
How Chern & Co Helps You Sell on TikTok Shop
The TikTok Shop is an opportunity for any entrepreneur who wants to get advantage of the growing world of social commerce. TikTok with its huge user base and innovative shopping features, offers its sellers a marketplace in which they can show and sell their products effortlessly.
If you’re planning to join the TikTok Shop space in the UK, the Chern & Co team is here to help. Our professional accountants will help you prepare and file tax returns to HMRC so that you can optimise your chances for success and growth.
Setting up a TikTok Shop in Ireland?
To sell via TikTok Shop as an Irish business, you’ll need a registered Irish company. We handle company formation from A to Z — packages from €199.
