Fashion
TikTok Shop expands its second-hand luxury fashion offering in the UK
TikTok Shop, the TikTok social commerce marketplace, is launching a second-hand luxury category in the UK, putting it in closer competition with The RealReal, Vestiaire Collective, Depop, Poshmark and Mercari, among others. The offer has already existed on TikTok Shop US for more than six months.
The new category allows UK customers to purchase pre-owned high-end clothing, designer handbags and other accessories, all without leaving the TikTok app. At launch, only five UK brands are available, including Saddler, Luxury Collective, Sign of the times, Almost never wornAnd Archive breaks.
Since the launch of TikTok Shop in 2022, the platform has sold about $1 billion or more value of products. However, despite its success, some argue that TikTok Shop is ruining the short-video sharing app, saying that fakes and low-quality products are flooding the market. Counterfeits are the biggest risk when buying second-hand luxury goods online, even from the biggest e-commerce giants (AmazoneBay and others) facing authenticity issues.
Like all resale marketplaces, TikTok Shop has a anti-counterfeiting policy which guarantees a full refund if a seller is proven to have sold a counterfeit product. Bloomberg recently reported that the company was in talks with luxury goods company LVMH to help combat counterfeiting.
All used brands on TikTok Shop US must have certificates from third-party authenticators. TikTok has partnered with authentication services Entrupy And Real Authentication to ensure that the designer handbags on the platform are authentic.
Meanwhile, a TikTok spokesperson told TechCrunch that the five UK brands all have their own internal authentication process. They wouldn't say when they would start accepting other used brands.
The launch of the pre-owned luxury category of TikTok Shops is a strategic move to tap into the growing market for pre-owned luxury items. The second-hand luxury market is a thriving multi-billion dollar business, with an estimated $49.3 billion (45 billion) worth of second-hand designer items sold globally in 2023.
Additionally, this expansion aligns with the growing trend of people embracing pre-loved fashion and opens new avenues for second-hand brands in the UK to reach a wider customer base. The popularity of second-hand fashion on TikTok is evident, with over 144,000 TikTok posts using the hashtag #secondhandfashionwhich has garnered around 1.2 billion views.
Today's announcement follows the U.S. House of Representatives' passage of a bill requiring ByteDance to sell TikTok or face a ban in the United States, a bill that appears gain the support of the Senate. A ban would be a blow to US merchants selling on the app. According to the company, the short video sharing app generated $14.7 billion for small and medium businesses in 2023.
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