Overheard in parking lot.

-

 


TikTok Delays Full Opening of U.S. Shop

Tepid adoption of live-streaming e-commerce by merchants slows plans for rollout

SINGAPORE—TikTok’s Chinese parent has delayed the rollout of its shopping platform in the U.S. as concerns over the video-sharing app’s future deter merchants from joining, dragging on the company’s plans to earn more money from its prize global asset.

ByteDance has postponed opening the shop to all sellers, originally intended for early spring, to June at the earliest, people familiar with the matter said. Its actual launch date might get pushed back further because of merchants’ concerns about a possible ban of the app and tepid adoption of live-streaming e-commerce in the U.S., the people said.

After a preliminary test launch among a small pool of selected merchants late last year, TikTok struggled to attract more sellers to open storefronts, pushing back its second phase of expanding the test pool until late March, they said.

The delay in opening shops to all sellers is a setback in Beijing-based ByteDance’s most lucrative market outside China. Its U.S. business faces headwinds that include rising geopolitical tensions and intensifying e-commerce competition led by rivals such as Shein and PDD Holdings’ Temu.

The company’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. 

ByteDance is targeting new revenue streams and has restructured a number of business lines to improve efficiency since Beijing tightened oversight on China’s internet sector. ByteDance recorded operating losses of more than $7 billion in 2021, The Wall Street Journal has reported.

Comments

Post a Comment

Popular posts from this blog

A slump in technology companies

-
Image
 We did not lose due to options and heging stocks values. Was a solid day please join us. A slump in technology companies' shares weighed on the S&P 500 Friday, chipping away at the recent gains of the broad-market benchmark and pushing it into negative territory for the week.  The S&P fell 1.2%, while the Nasdaq Composite shed 1.6%. The Dow Jones Industrial Average lost about 289 points, or 0.8%. The S&P 500 and Nasdaq posted slim declines for the week, while the Dow eked out a small gain.  U.S. Stocks Decline, Led by Tech Stocks Stocks opened lower and losses accelerated midday, with major indexes ending the day near session lows. Tech stocks, the market’s stars this year, were some of the worst performers. The S&P 500’s information technology sector lost almost 2%, dragging the broad stock-market gauge into the red for the week.  Shares of Adobe dropped 4.2% after the company’s earnings Thursday, and were among the biggest market laggards. The swoo...
Read more

How we trurn $1000.00 into $3000.00 .

-
Image
  Short-term trading, also known as day trading or swing trading, involves buying and selling financial instruments within a short time frame to take advantage of price fluctuations. While it is possible to turn $1000.00 into $3000.00 through short-term trading, it's important to note that trading involves risks, and there are no guarantees of profits. Here are some general steps and tips to consider if you decide to pursue short-term trading: Educate Yourself: Gain a solid understanding of financial markets, trading strategies, and risk management. Learn technical analysis, chart patterns, indicators, and fundamental analysis. Set Realistic Goals: Be aware that turning $1000.00 into $3000.00 is an ambitious target and may not be achievable within a short time frame. Set realistic expectations and focus on consistent, steady growth rather than aiming for large returns quickly. Create a Trading Plan: Develop a well-defined trading plan that outlines your goals, risk tolerance, tradi...
Read more

Stocks dropped Friday

-
Image
Click to zoom  Stocks fell Friday, with all three major indexes ending the week in the red. Read the day's   full markets roundup here . Indexes have  come under pressure  as the fighting between Israel and Hamas has intensified. A surge in borrowing costs, with the 10-year Treasury yield recently nearing 5%, has also weighed on markets. The benchmark yield retreated Friday, settling at 4.924%. The Federal Reserve may hold interest rates steady at its next meeting, Chair Jerome Powell  said Thursday , given that higher yields were tightening financial conditions. American Express stock fell, despite the credit-card company reporting record quarterly earnings and revenue. (Here's a  Heard on the Street take on Amex .) Another round of disappointing earnings pressured bank stocks. As of late Friday: Indexes finished lower.  The S&P 500, Nasdaq Composite and Dow Jones Industrial Average were all in the red, including a 1.5% daily decline for the tech-...
Read more