TikTok Shop is levelling up via partnerships with luxury resale companies, to allow Gen Z to purchase used designer handbags, like Louis Vuitton monogram shoulder bag or a Bottega tote, on the platform.
Jan Wilk, Head of Operations, TikTok Shop UK, confirmed the update of TikTok’s social commerce marketplace in a statement on Monday.
The new vertical which debuted in the US and the UK according to inside sources, partners with five luxury resale businesses in the UK: Break Archive, Sellier Knightsbridge, Luxe Collective, Sign of the Times, and Hardly Ever Worn It.
These businesses have already had experience translating TikTok videos into sales on their websites. They can list inventory in the TikTok Shop tab and produce shoppable live streams thanks to the TikTok Shop tie-in.
TikTok Shop launched in 2022, and since then, the platform has sold goods valued at least $1 billion. Nevertheless, despite its popularity, some contend that TikTok Shop is destroying the platform for sharing short videos, alleging that a large number of bogus and subpar goods are flooding the market.
When purchasing pre-owned luxury products online, the biggest risk is counterfeiting, as even the biggest e-commerce companies, including Amazon, eBay, and others, have problems with authenticity.
TikTok Shop, like many other resale marketplaces, has an anti-counterfeit policy that ensures a complete refund if a seller is found to have sold a counterfeit item. According to a recent Bloomberg story, the corporation is in discussions to combat counterfeiting with luxury goods company LVMH.
“This announcement is an exciting first step in the world of preowned fashion for TikTok Shop.
“TikTok Shop is already a leader when it comes to discovery-based commerce and with a vibrant fashion community thriving on TikTok, this provides a unique opportunity for retailers to reach new audiences and customers with an inspiring and accessible way to embrace luxury fashion,” Wilk noted.
We earlier reported that as part of its commitment to supporting educational content on its app, TikTok has announced plans to develop a new science, technology, engineering, and mathematics (STEM) stream.