Skip to main content

Home  »  US business news   »   TikTok parent ByteDance postpones US shop launch

TikTok parent ByteDance postpones US shop launch

TikTok-owned ByteDance has put off the launch of its online shopping platform in the US amid concerns over the video-sharing app's future. 

ByteDance has postponed opening the shop to all sellers, initially intended for early spring, to June at the earliest.

It is mainly due to merchants' concerns about a possible ban on the app and the slow adoption of live-streaming e-commerce in the US

Read More: Nordstrom to close two San Francisco stores blaming high crime rates

The delay is a setback in ByteDance's most lucrative market outside China. 

Its US business faces headwinds, including rising geopolitical tensions and intensifying e-commerce competition led by rivals such as Shein and PDD Holdings' Temu. 

employer

ByteDance is targeting new revenue streams and has restructured several business lines to improve efficiency since Beijing tightened oversight on China's internet sector. 

Need Career Advice? Get employment skills advice at all levels of your career

ByteDance recorded operating losses of more than $7bn in 2021. 

TikTok's push into online shopping is part of a drive to earn more money from its stable of Chinese and global apps that, while hugely popular, have yet to lift the company into profit.

Follow us on YouTubeTwitterLinkedIn, and Facebook.

Tags:
TikTok

Most Read News