What is Happening?
TikTok is ready to challenge Facebook's short form content in the US as the app launches new products and features to support ecommerce.
These include automatic commissions for influencers sharing product links and livestreaming. As well as allowing product-link shares even for users not associated with a brand.
The app will introduce a “self-service” ad tool, allowing brands to place their own ads. TikTok also plans to introduce better ad targeting tools and user tracking.
Additionally, the app plans to diversify its audience. TikTok plans to extend its reach to connected TV's by launching a version of its app on some brands of Android smart TVs.
What Does it Mean?
🆚 TikTok vs Instagram
While many are touting TikTok as a core threat to Facebook, it must be considered that the majority of direct competition will be across short-form video content. Of which, a majority takes place across Instagram.
📺 Live Streaming & Live Commerce
Perhaps the greatest emerging opportunity is the intersection of live streaming and commerce. An already wildly popular way to shop in China, where viewers buy products with just a couple of taps after being shown them by celebrity hosts. Live-streaming commerce in China is expected to more than double to $171 billion this year, according to a WARC Data study.