TikTok announced at the beginning of the year, the
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Posted On: 08/11/2024 8:52:32 AM
TikTok announced at the beginning of the year, they were going to increase their seller fees from 2% to 8% by July. In Q2 they raised them up to 6% as a transition and then to 8% July 1.
For comparison
Mercari: 10%
eBAY: 15%
Poshmark: 20%
Amazon: 6% to 45% with most categories falling in the 8% to 15% range.
Walmart: 5%-15% https://marketplace.walmart.com/pricing/
Whatnot' 8% (As of July 11, 2024)
Some of my takeaway's...
1.) TikTok Shop launched in August and Market.LIVE has been right there with them announcing the integration
VERB’s MARKET.live Launches Groundbreaking TikTok Integration - Sep 05, 2023
https://ir.verb.tech/news-events/press-releas...ing-tiktok
2.) In comparison, the only other company I found that announced a partnership with TikTok has done nothing.
Actually that is not true. They did manage to get almost, but not quite, 3,000 followers and their TikTok page and they did lose 1/2 of their sellers/stores/customers.
https://www.tiktok.com/@commentsold
https://storeleads.app/reports/commentsold
CommentSold Announces Live-Selling Strategic Partnership With TikTok - August 17, 2023 https://www.businesswire.com/news/home/202308...ith-TikTok
3.) TikTok put a lot of investment to get Shop off the ground (i.e. discounting items (and giving seller full profit) , giving coupons , and covering free shipping, etc. which set them up nicely will millions of people now setup to buy on the platform.
4.) TikTok increase of fees may cull the herd of sellers that aren't very good. Less is more. Don't need 10,000 people selling 1 Stanley Tumbler each. Likely will also cut down on the scammers, counterfeit, etc. sellers.
5.) Fewer, better sellers is where Market.LIVE seems to come into play with TikTok. Market.LIVE put a lot of time, energy, investment into this. Anyone see all of Mitch's training clips? How about "The Vault"?
https://www.market.live/portal/web/6334e3f02081610f68ef47c7/
6.) TikTok's new 8% Fee now gives the company the ability and the room to spread the love around. They can use some of that to expand the partnership with companies like VERB or even give them a percentage of that percentage.
For comparison
Mercari: 10%
eBAY: 15%
Poshmark: 20%
Amazon: 6% to 45% with most categories falling in the 8% to 15% range.
Walmart: 5%-15% https://marketplace.walmart.com/pricing/
Whatnot' 8% (As of July 11, 2024)
Some of my takeaway's...
1.) TikTok Shop launched in August and Market.LIVE has been right there with them announcing the integration
VERB’s MARKET.live Launches Groundbreaking TikTok Integration - Sep 05, 2023
https://ir.verb.tech/news-events/press-releas...ing-tiktok
2.) In comparison, the only other company I found that announced a partnership with TikTok has done nothing.
Actually that is not true. They did manage to get almost, but not quite, 3,000 followers and their TikTok page and they did lose 1/2 of their sellers/stores/customers.
https://www.tiktok.com/@commentsold
https://storeleads.app/reports/commentsold
CommentSold Announces Live-Selling Strategic Partnership With TikTok - August 17, 2023 https://www.businesswire.com/news/home/202308...ith-TikTok
3.) TikTok put a lot of investment to get Shop off the ground (i.e. discounting items (and giving seller full profit) , giving coupons , and covering free shipping, etc. which set them up nicely will millions of people now setup to buy on the platform.
4.) TikTok increase of fees may cull the herd of sellers that aren't very good. Less is more. Don't need 10,000 people selling 1 Stanley Tumbler each. Likely will also cut down on the scammers, counterfeit, etc. sellers.
5.) Fewer, better sellers is where Market.LIVE seems to come into play with TikTok. Market.LIVE put a lot of time, energy, investment into this. Anyone see all of Mitch's training clips? How about "The Vault"?
https://www.market.live/portal/web/6334e3f02081610f68ef47c7/
6.) TikTok's new 8% Fee now gives the company the ability and the room to spread the love around. They can use some of that to expand the partnership with companies like VERB or even give them a percentage of that percentage.
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