TikTok owner ByteDance ramps up e-commerce expansion with launch of Fanno shopping app in Europe


TikTok owner ByteDance has ramped up its expansion into e-commerce with the latest launch of shopping app Fanno in chosen markets throughout Europe, because the world’s most valuable technology start-up sharpens its concentrate on strategic industries to diversify its enterprise.

The Fanno app was made accessible final month on each Apple’s App Store and Google Play for the Android platform in France, Germany, Italy, Spain and Britain. It was launched days earlier than the annual Black Friday occasion on Nov 26, which marked the beginning of the Christmas shopping season in the US and different Western markets.

“We’re at an early phase of exploring this new e-commerce proposition, aiming to provide cost-effective products to global users,” a ByteDance consultant stated.

Fanno has slowly climbed up the ranks of the world’s hottest apps. It had a median rank of 240th among the many most downloaded iOS apps on Saturday, throughout the 5 markets the place it’s accessible, in response to market analysis agency App Annie. It additionally indicated that Fanno carried out greatest in Britain and Italy, the place the ByteDance product was ranked No 144 and 185, respectively, in the identical interval.

Fanno, a new shopping app from Chinese tech unicorn ByteDance, was introduced last month in selected markets across Europe. Photo: Handout

A present Fanno promotion has new customers select a reduced product that prices as little as £0.01 (5sen), receiving free delivery with no minimal order worth and a reduction coupon, in response to data on the App Store. Free delivery can also be provided for a consumer’s subsequent orders.

The app operates “separately and independent from TikTok and TikTok Shopping”, stated the ByteDance consultant, referring to the hit brief video app’s personal e-commerce initiatives.

TikTok, which recorded one billion month-to-month energetic customers in September, began testing on-line retail options in Indonesia and Britain earlier this 12 months. In August, TikTok partnered with Canadian e-commerce giant Shopify that originally allowed customers in the US and Britain to purchase items instantly via the app. This TikTok Shopping function later expanded to incorporate different companions, together with Square, Ecwid and PrestaShop.

Last month, ByteDance launched a seller’s app for TikTok that allows retailers to handle their digital shops.

The Fanno shopping app from ByteDance has become one of the most downloaded iOS apps on Apple’s App Store. Photo: Handout

The stakes are excessive for ByteDance, because it expands its e-commerce pursuits amid Beijing’s ongoing regulatory crackdown on the know-how sector. It should additionally compete with different main social media entities, comparable to Facebook and Instagram, in worldwide e-commerce markets.

The international e-commerce trade is projected to succeed in US$4.2 trillion (RM17.77 trillion) in 2021, in response to a forecast from the Adobe Digital Economy Index.

In mainland China, ByteDance is anticipated to introduce a stand-alone shopping app known as Douyin Box, in response to a report by Chinse tech media 36kr. Douyin, the Chinese sister app of TikTok, has already began to construct up an unlimited ecosystem of retailers underneath its personal e-commerce platform.

Beijing-based ByteDance, which plans to carve out TikTok into a stand-alone business unit, is anticipated to file 60% income development to 400bil yuan (RM265.61bil) this 12 months, in response to a latest report by The Information.

The bulk of ByteDance’s income remains to be anticipated to come back from Douyin and information aggregator Jinri Toutiao, regardless of the worldwide reputation of TikTok. – South China Morning Post

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