Topic of the Week - TikTok Shop Expands Pre-Owned Category to Continental Europe
TikTok Shop is set to bring its pre-owned category to continental Europe, following successful launches in the US and UK. The company is currently recruiting a programme manager to lead the development of the pre-owned category strategy across the European Union, covering a range of products from trading cards to household appliances.
The pre-owned category, which was introduced in the UK last year, allows sellers to list second-hand products, including luxury fashion items, on the platform. The category has been expanded to include refurbished electronics in the US and UK. Sellers are required to have certificates from third-party authenticators, and TikTok Shop has an anti-counterfeit policy in place to guarantee refunds if a seller is found to have sold a counterfeit product.
The new programme manager will be responsible for defining and implementing the pre-owned category strategy across the EU, as well as scaling and improving support for the new category. The role will also involve advocating for sellers and leading the strategic category portfolio.
TikTok Shop has already launched in six European countries, including Germany, France, Italy, the UK, Spain, and Ireland. The company plans to expand to other countries on the continent in the near future.
This move is expected to increase competition in the European e-commerce market, particularly in the pre-owned category, where platforms like eBay UK have traditionally dominated. The expansion is also likely to attract new sellers and buyers to the platform, as well as increase the variety of products available.
eCommerce Market Stats
See some statistics relating to this week’s topics in the eCommerce market below.
Pre-owned eCommerce stats
- The global pre-owned market is projected to reach $64.4 billion by 2025, growing at a CAGR of 12.4% from 2020 to 2025.
- 71% of consumers have purchased a pre-owned item online, with 55% of them doing so through social media platforms.
- 62% of Gen Z consumers and 55% of Millennials have purchased a pre-owned item online, compared to 44% of Gen X and 35% of Baby Boomers.
- The most popular pre-owned product categories are:
- Clothing and accessories (44%)
- Electronics (24%)
- Furniture and home decor (15%)
- Toys and games (12%)
- Books and media (5%)
That’s all for this week…
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