TikTok Shop is getting 94% of its US luxury resale revenue this year from livestreams, and the category’s gross merchandise value has grown 400% from a year ago, mostly on handbags and watches, figures the platform put out at its first Luxury Resale Summit, according to Julia Waldow at Modern Retail. Selling luxury resale there is invite-only, and sellers must use one of five authentication partners, TikTok’s answer to the counterfeits that follow the category. Rainee Walker, who runs US luxury resale for TikTok Shop, said lives let a seller show wear and tear on camera and field questions about strap length or the exact shade of red. Fashionphile, Rebag and MyGemma all stream regularly, and MyGemma’s CEO said livestream channels bring in 15% to 20% of its revenue.
