TikTok told investors that among a number of new features planned for this year, it will unveil a tool that allows its most popular users to share links to products in exchange for sales commission, per Financial Times.
With this move, TikTok will launch its own e-commerce service, directly challenging social media giant Facebook Inc in the U.S. “It’s old-school affiliate marketing,” one senior advertising executive said about the new tool.
According to people familiar with the matter, another feature that TikTok, owned by ByteDance company, wants to release is that brands display their product catalogs on the platform.
It is also reported on the Financial Times that TikTok will launch “livestreaming” shopping, a mobile phone version of television shopping channels, where users can purchase goods with a few taps after seeing the products showcased by TikTok stars.
Two people familiar with the matter said TikTok had also plans in 2021 to improve its self-service advertising platform in terms of ad targeting with developments in user tracking.