Just TikToking Along, Folks
September 21, 2023
Beleaguered in the US, its largest market, TikTok is ready to embrace new options in its Southeast Asian advance. CNBC reports, “TikTok Shop Strikes ‘Buy Now, Pay Later’ Partnership in Malaysia As Part of E-Commerce Push.” Writer Cheila Chiang reports:
“The partnership comes as TikTok looks to markets outside of the U.S. for growth. While the U.S. is the company’s largest market, TikTok faces headwinds there after Montana became the first state to ban the app. The app has also been banned in India. In recent months, TikTok Shop has been aggressively expanding into e-commerce in Southeast Asia, competing against existing players like Sea’s Shopee and Alibaba’s Lazada. TikTok’s CEO previously said the company will pour ‘billions of dollars’ into Southeast Asia over the next few years. As of April, TikTok said it has more than 325 million monthly users in Southeast Asia. In June, the company said it would invest $12.2 million to help over 120,000 small and medium-sized businesses sell online. The investment consists of cash grants, digital skills training and advertising credits for these businesses.”
What a great idea for the teenagers who are the largest cohort of TikTok users. Do they fully grasp the pay later concept and its long-term effects? Sure, no problem. Kids love to work at part time jobs, right? As long as major corporations get to expand as desired, that is apparently all that matters.
Cynthia Murrell, September 21, 2023
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