Shadine Taufik · · 1 min readTikTok officially sets up Shop in Singapore
TikTok, the short-form video platform, has officially rolled out its ecommerce business, TikTok Shop, in Singapore.
Photo credit: Unsplash
The firm has already launched the unit in the UK, Indonesia, Malaysia, Vietnam, Thailand, and the Philippines.
The company says that Singapore has “exceeded its potential as a major ecommerce market,” with the projected market volume of the industry reaching over US$11.4 billion by 2025.
At the moment, it seems that Indonesia is TikTok Shop’s most profitable location outside China, with June bringing in US$100 million in sales volume.
TikTok Shop is baked into the firm’s social media platform, allowing users to seamlessly switch between regular content and product catalogs. The company has waived commission fees for merchants and charges a 1% payment service fee to draw sellers to the platform.
See also: Explaining TikTok’s ecommerce bet in Southeast Asia
Editing by Miguel Cordon and Jaclyn Tiu
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