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TikTok is set to expand its eCommerce shop tenfold – Atlanta Small Business Network

TikTok is set to expand its eCommerce shop tenfold – Atlanta Small Business Network

Image source: channelengineA recent report suggests that TikTok Shop plans to significantly increase its fees from 2% to 8% to improve its eCommerce operations’ profitability. The report reveals that the company has had internal discussions around its 2024 merchandise volume goal, which may change over time.By aiming for this objective, TikTok intends to compete with Amazon, Temu, and Shein, two other Chinese-owned businesses that have become popular in the US market. However, these two companies don’t have the benefit of TikTok’s highly successful social media network, which it uses to its advantage to reach consumers through viral videos.The exact timetable for the… 

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