TikTok is upping the stakes on its live auction bidding platform, with an integrated countdown.
This new tool will make livestream auctions even more immersive, by letting users know how much longer an item has left on sale. This kind of technique is known to increase the sense of urgency and is noted by many creators and live sellers as a way to push up the sale price of an item.
How to Use The Countdown Tool
When a user or creators lists an item as ‘for sale’ in their TikTok Shop, they can select an option for ‘auction only’.
This means that shoppers cannot add the item directly to their cart and purchase it but rather must see out the full auction and bid on it.
If the seller chooses to go one step further and move their biddable product into a livestream auction, this activates the countdown function.
The bidding itself starts at a set price as identified by the seller, with prospective buyers able to see the bids that have been placed by others. The winner is the one who has bid the highest price at the moment the auction closes – a process made more exciting and immersive by the addition of a countdown clock.
The Benefits of Auction Sales as Opposed to Standard Sales
While the countdown clock may not yet be accessible across all TikTok auction sectors, it does highlight a very specific benefit of an auction as opposed to a regular sale process.
When users get involved in an auction, they become more engaged and more likely to shop with urgency. Users that partake in TikTok auctions are more likely to visit the platform more, which is good for viewing numbers and engagement stats for creators. You can boost the views on your individual products further by purchasing packages of followers and exposing them to unique and compelling products in your content.
Have you sold anything on TikTok through the auction and bidding process?
