Latest news with #TikTokShop
CNBC
7 hours ago
- Business
- CNBC
Gen Alpha are spending big — here's 2 tips to raise money savvy kids in a world of instant gratification
In the age of instant gratification where Gen Alpha has easy access to instant delivery services like Amazon Prime and Uber Eats, some parents are wondering how to teach the young money-saving skills. Born between 2010 and 2024, Gen Alpha are not like other generations. They grew up with smartphones in their hands and the ability to make purchases at the click of a button. In fact, their spending prowess is huge. Gen Alpha spent £92 million ( $126.2 million) between 2023 and 2024, according to research from financial technology company GoHenry, which provides debit cards for kids in the U.K., U.S., France, and Spain. GoHenry published its Youth Economy Report in September 2024, which provided data from 311,832 GoHenry kids. Much of this money is going to online services, with GoHenry kids spending over £3 million on food delivery services, up 113% from the year before. Additionally, almost half like to make purchases on social media platforms like TikTok Shop, Facebook Marketplace and Instagram. Their economic footprint is expected to reach $5.46 trillion by 2029, according to research firm McCrindle. "Convenience and speed have become the norm," Louise Hill, GoHenry founder, told CNBC Make It in an interview. "One of the things we need to remember when we're thinking about Gen Alpha in particular, is that they are totally used to everything being available at the flick of a switch, at the click of a button, and this drives different behaviors with money." Hill explained that despite the influx of financial education resources online, there has also been a surge in money products and apps that are easy to use, such as credit cards, buy-now-pay-later options, and contactless payments. This makes it more complex for parents to navigate teaching money skills to kids. She emphasized the importance of kids understanding "that money has to be earned before it can be spent," and then spending it with thought and consideration. Hill said it's crucial for children to see the "tangible aspects of money" like physical cash, to understand its value. Giving "regular pocket money" is one solution, from giving 50 pence a week to £5 pounds. "If you give a child 50 pence and pick a day of the week that works for you as a family for pocket money, that might be Saturday, then you can literally give them 50 pence every Saturday. It is incredible how quickly they will start to realize 'Oh, look, it's every Saturday. If I save up four Saturdays, I've got two pounds. And now I can buy X, Y, Z, if I save up 10 Saturdays." Handling physical cash allows kids to know how much their favorite items cost. "You can give a child some coins, and then they can have the concept of how many of those coins get exchanged for a bag of sweets, versus a bigger toy," the GoHenry founder said. For teenagers, Hill proposed the method of "pizza budgeting," which allows children to visually understand how much money goes into running a household and paying bills. "The pizza is your pot of money, or your wages, or your pocket money and then taking the child through, 'Would you like to guess how big a slice of pizza we need to cut out if this is the household wages? How big a slice we need to cut out of that to pay the rent or to pay the mortgage?" As the pizza gets smaller and smaller, it creates an understanding of how much money is left over for leisure spending. Kids are like sponges and tend to absorb attitudes around money from their parents, so Hill believes it's good to keep them in the loop about household finances. She offered the example of the cost of living crisis in the U.K. after the Covid-19 pandemic, which was cited widely in the media. GoHenry started hearing from customers that their kids were concerned about the cost-of-living crisis. "Kids do soak up everything in that sort of situation where perhaps as a family, you're stressed about money," she said. Parents can talk about money struggles without raising the exact issue, such as if they're unable to pay the rent. For example, Hill said that if you can no longer afford to have a takeaway every Friday night, then get children involved in making a "fakeaway," which means making a takeaway at home. "What about getting the kids involved in making a pizza and choosing their toppings? Maybe even going to the supermarket with you and picking up those toppings instead of paying the money for a takeaway and then showing them how much money is being saved," Hill added. This can help children feel more in control of their money spending habits, and learn to tighten their belts when they need to as they get older.
Globe and Mail
a day ago
- Business
- Globe and Mail
3,000 Attendees Gather for First-Ever YooFinds Expo in the U.S., Celebrating TikTok Shop Growth
TikTok Shop's Largest Creator & Brand Ecosystem Event in the U.S. Draws Massive Engagement Onsite and Online Los Angeles, California--(Newsfile Corp. - June 26, 2025) - The 2025 YooFinds Expo · Los Angeles officially wrapped up on June 11 at the Los Angeles Convention Center, with nearly 3,000 industry participants in attendance and over 5,000 pre-registered in the month leading up to the event. This marks the largest in-person ecosystem event ever held in the U.S. for the TikTok Shop community. Powered by YooFinds and co-hosted with FastMoss, the one-day expo brought together over 1,600 creators, 300+ brands, and 40+ top speakers and platform partners under one roof. As TikTok e-commerce gains traction globally, this event served as a milestone moment-offering a real-world space for content creators, sellers, and solution providers to connect, collaborate, and co-create the future of commerce. "Our goal has always been to connect the best creators and brands-not just through screens, but face to face, in real life. That's where real partnerships start." - Jim Fields, U.S. Partner, FastMoss. "YooFinds and FastMoss are more than just tools-they're the gateway to unlocking the full potential of TikTok commerce. I genuinely believe they're the best platforms out there to help both brands and creators grow, connect, and win together." Running from 8:30 AM to 5:00 PM, the Expo featured a vibrant main stage, two side stages, and over 100 interactive booths. Onsite attendance was complemented by an online reach of over 200 million impressions, and attending creators boasted a combined following of 50+ million. Top U.S. TikTok creators such as Daisy Cabral, sk8bord b, Liz The Clearance, and Melodyscloset shared industry insights and content growth strategies. Leading agency executives, including Lauren A. Stevens (Orca, Co-founder) and Alex Elsea (Founder, MomentIQ), delivered keynotes on creator-brand synergy and short-form commerce playbooks. As the first and largest offline TikTok Shop ecosystem event in the U.S., the 2025 YooFinds Expo · Los Angeles marked a new chapter for content-driven commerce. From creator education to brand collaboration, data intelligence to community building, the Expo set the stage for a thriving, connected, and global TikTok e-commerce future. About YooFinds YooFinds is the ultimate personal assistant for TikTok creators-offering exclusive high-commission best-sellers, a wide range of free product samples, and more ways to earn through video placements, livestream promotions, and paid ad campaigns. Whether you're creating short videos or going live, YooFinds helps you unlock your full earning potential on TikTok. About FastMoss FastMoss is the world's leading TikTok Shop data analytics platform, trusted by over 2 million global users including creators, brands, and agencies. With the most comprehensive real-time dataset across TikTok e-commerce, FastMoss empowers users to discover top-performing products, analyze creator performance, monitor market trends, and optimize content-to-commerce strategies. Our mission is to become the most complete and trusted analytics solution for the global TikTok ecosystem.
Fashion United
2 days ago
- Business
- Fashion United
TikTok shop joins Lectra's e-commerce platform, Neteven
TikTok Shop joined the network of Neteven, the e-commerce platform by technology company Lectra. Neteven already collaborates with major online marketplaces such as Amazon, Asos, Decathlon, and Zalando. Thanks to this new partnership with TikTok, a subsidiary of tech giant ByteDance, fashion brands can now sell their collections through one of the most popular social media channels, Lectra announced in a press release. Neteven offers fashion brands a central SaaS solution for managing their online sales. The platform streamlines product information, inventory management, and order processing, while automating sales across multiple marketplaces. TikTok Shop is an integrated shopping environment within the TikTok video app. It allows users to discover and purchase products directly without leaving the app. The feature is already active in countries including the UK and the US and recently launched in France, Spain, and Italy. A launch in the Netherlands and Belgium is expected soon, although an exact date is yet to be confirmed. This integration is a strategic step for fashion companies looking to capitalise on social commerce. Greg Zemor, chief executive officer of Neteven, stated that affiliated brands achieve an average of 35 percent more online sales within six months. Moreover, the time-to-market is reduced by approximately 80 percent. "This growth is not only due to our technology but also to the strength of our marketplace network," said Zemor. "I am therefore particularly pleased to add TikTok Shop to our network." This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Business Times
2 days ago
- Business
- Business Times
S-E Asia's e-commerce platform gross merchandise value growth rate eases: report
[SINGAPORE] South-east Asia's total e-commerce platform gross merchandise value (GMV) grew at a slower rate of 12 per cent year on year in 2024, as the leading platforms focused on a more rational and sustainable trajectory. Despite decelerating from the 15.2 per cent growth in 2023, the e-commerce platform GMV rose to US$128.4 billion in 2024 from US$114.6 billion in the year before, estimated consultancy firm Momentum Works in a report released on Thursday (Jun 26). With infrastructure maturing, 'efficiency, customer experience and service level have become a bigger focus for the ecosystem', it added. The GMV estimation covers transactions on only Shopee, Lazada, Tokopedia, TikTok Shop, Bukalapak, Tiki, Blibli, and Despite the easing growth rate, most South-east Asian countries still achieved double-digit growth year on year, with Thailand and Malaysia being the key drivers for the region's e-commerce GMV expansion, stated the report. Thailand recorded the highest GMV percentage increase, with a 21.7 per cent rise from US$19.3 billion in 2023 to US$23.5 billion the following year. Malaysia had the second-highest growth, going up 19.5 per cent from US$9.6 billion in 2023 to US$11.5 billion in 2024. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Singapore, on the other hand, registered the second-lowest GMV growth rate of 12 per cent, increasing from US$4.4 billion in 2023 to US$4.9 billion in 2024. Indonesia had the lowest GMV growth rate of only 5 per cent year on year, expanding from US$53.8 billion in 2023 to US$56.5 billion in 2024. Despite the slowdown, Indonesia remains the largest market in South-east Asia by contributing 44 per cent of the region's platform GMV in 2024, down from 52 per cent in 2022. Consolidation in the market led to the moderation of growth in the meantime, noted Momentum Works. E-commerce giant Shopee increased its regional market share to 52 per cent in 2024 from 48 per cent in the previous year. It had a market share of more than 50 per cent in all countries in South-east Asia, excluding Indonesia, where it had a 46 per cent share. TikTok Shop held the second-highest market share by GMV in the region. The report added that while TikTok Shop has gained market share, its top-line growth has moderated compared with previous years. This was attributed to a deliberate adjustment of strategy. The report also noted the completed back-end integration of TikTok Shop and Tokopedia, which TikTok Shop had acquired in December 2023. 'As a result, Tokopedia no longer needs to artificially boost GMV.' Lazada held the third-highest market share by GMV in the region, according to the report. 'After a major restructuring at the beginning of 2024, Lazada achieved positive Ebitda (earnings before interest, tax, depreciation and amortisation) and stabilised its GMV and regional market share.' Collectively, the top three regional platforms – Shopee, Lazada and TikTok Shop (excluding Tokopedia) – own more than 90 per cent market share in all markets, except Indonesia. The competition among South-east Asia's top platforms shifted from 'a race to the bottom' to a co-existence that is focused on return on investment, noted Momentum Works. It added that the region's e-commerce parcel volume is not that far behind the United States'. In 2024, South-east Asia shipped an average of 43.6 million parcels daily, close to the 61.3 million shipped daily by the US and significantly more than India, which ships approximately 15 million parcels a day. 'While still far behind China's 478 million, the region's e-commerce sector is already operating at a significant scale.' The report also noted that, in 2024, transactions worth approximately US$16.8 billion in GMV were carried out in South-east Asia outside of major platforms. This was the first time Momentum Works tracked non-platform e-commerce. These included transactions that happened on open-loop social platforms such as Facebook, multi-brand retailer sites, as well as orders placed via chat platforms such as WhatsApp. The total e-commerce GMV reached in the region was approximately US$145.2 billion, after accounting for non-platform GMV. 'Platform GMV is still decisively the majority of e-commerce in South-east Asia,' noted Momentum Works.
The Star
3 days ago
- Business
- The Star
Indonesia to make e-commerce firms collect tax on sellers' sales, sources say
JAKARTA: Indonesia plans to implement new regulations requiring e-commerce platforms to withhold tax on their sellers' sales income in a bid to boost revenues, according to two industry sources informed of the move and a document seen by Reuters. The planned directive, which also aims to level the playing field with brick-and-mortar shops, could be announced as soon as next month, one of the sources said, as South-East Asia's largest economy grapples with weak revenue collection. The changes would affect the country's main e-commerce operators, including ByteDance's TikTok Shop and Tokopedia, Sea Limited's Shopee, Alibaba-backed Lazada, Blibli and Bukalapak, one of the sources said. E-commerce platforms are opposing the regulation, arguing it could increase administrative costs and push sellers away from online marketplaces, said the sources, who were briefed on the plan by tax authorities. Indonesia introduced a similar regulation in late 2018, requiring all marketplace operators to share sellers' data and make them pay taxes on sales income, but withdrew it three months later due to a backlash from the industry. The sources asked not to be named as they were not authorised to speak publicly about the matter. Indonesia's finance ministry, which will be responsible for issuing the order, declined to comment. Indonesia's e-commerce industry association idEA would not confirm or deny details of the plan. However, it said the policy will affect millions of sellers if implemented. Finance ministry data showed revenues fell 11.4 per cent year on year in the January to May period to 995.3 trillion rupiah (US$61 billion) due to low commodity prices, weak economic growth and disruptions to tax collection caused by a system upgrade. Indonesia's e-commerce industry, meanwhile is booming, with last year's estimated gross merchandise value of US$65 billion expected to grow to US$150 billion by 2030, according to a report by Google, Singapore state investor Temasek and consultancy Bain & Co. The sources said that under the new rule e-commerce platforms will be required to withhold and pass onto the authorities tax amounting to 0.5 per cent of sales income from sellers with annual turnover of between 500 million rupiah and 4.8 billion rupiah. Those sellers are considered small and medium-sized enterprises and are already required to pay that tax directly. One of the sources added that there was also a penalty proposed for late reporting by e-commerce platforms. The sources' comments were corroborated by the contents of an official presentation the tax office made to operators that was seen by Reuters. In addition to the expected additional administration costs, e-commerce platforms are expressing concern the current tax system, which has been facing technical problems after an upgrade at the start of the year, will struggle to handle the amount of data the tax office is asking marketplaces to share. - Reuters
