TikTok's Countdown Bidding feature streamlines the auction process for sellers, especially in collectibles and pre-owned luxury categories. Sellers create 'auction only' listings, providing necessary details to inform bidders. This feature allows for live bidding during streams, making the process straightforward. Additionally, TikTok is raising its in-app sales price cap from $7,600 to $13,000 to better support these categories. Despite its current limitations, the platform is optimistic about expanding its live sales in Western markets based on success in other regions, aiming to convert audience engagement into significant revenue.
Countdown Bidding enables sellers to auction items live on TikTok, enhancing the selling experience for collectibles and luxury items.
Sellers list items labeled "auction only", ensuring clarity for shoppers and facilitating an engaging live bidding process.
TikTok is increasing the in-app sales price cap to enhance its shopping features, aiming to maximize revenue from live sales.
With successful live sales in other markets, TikTok is optimistic about expanding its shopping options in Western regions.
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