Nearly all luxury resale transactions on TikTok Shop US now come from livestreams
Year to date, 94% of revenue on TikTok Shop from luxury resale in the U.S. is coming from lives, the platform revealed during a presentation to members of the media during Fashion Week. Here's what else TikTok Shop had to say about its burgeoning luxury resale business.
Livestreaming is driving the majority of luxury resale transactions on TikTok Shop in the U.S., according to the platform's recent Luxury Resale Summit. A staggering 94% of revenue in this niche comes from live streams, the company announced. The luxury resale sector on TikTok Shop has seen a remarkable 400% increase in gross merchandise value compared to last year, driven primarily by high-demand items such as handbags and watches.
This booming market, however, comes with its own set of challenges, including the risk of counterfeit goods. To combat this, TikTok Shop has created a stringent selection process for sellers. Brands must be invited to participate and collaborate with one of the platform's five authorized authentication partners, including Entrupy, Legitmark, CheckCheck, Legit App, and Real Authentication.
Rainee Walker, TikTok Shop's head of luxury resale category in the U.S., highlights the value of livestreams in assuring buyers. By showcasing the product's condition, dimensions, and other specifics in real-time, these streams provide a level of transparency and assurance that can help build trust in the luxury resale market.
Written by urgent.news from Modern Retail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
