VERB’s MARKET.live Unveils Major TikTok Shop Technology Expansion

Rhea-AI Summary

Verb Technology Company (VERB) has announced a major expansion of its MARKET.live tech integration with TikTok Shop. This new integration enables TikTok Shop sellers to offer custom print-on-demand merchandise directly through their TikTok Shop accounts, eliminating the need for inventory carrying costs. TikTok Shop creators can now produce and sell custom merchandise on-demand, resulting in increased margins and revenues. David Meltzer, with over 880K followers, is one of the first to adopt this technology, offering branded merchandise without any inventory management hassle. VERB's CEO, Rory J. Cutaia, emphasized that the integration removes barriers to entry for creators and enhances the potential of livestream shopping on TikTok.

Positive

• VERB's new tech integration with TikTok Shop removes inventory carrying costs for sellers.
• The integration allows for custom print-on-demand merchandise, increasing profit margins.
• David Meltzer's adoption demonstrates the practical application and potential success of the technology.
• This technology eliminates inventory management expenses, reducing financial risk for sellers.
• Potential for increased revenue from TikTok Shop creators utilizing the new technology.

Negative

• No direct financial metrics or projected revenue figures provided in the PR.
• Uncertainties about the broad adoption rate and the long-term impact on VERB’s revenue.

Insights

Tech Expert

The integration of VERB's technology with TikTok Shop is a significant development in the realm of social commerce. By allowing creators to offer print-on-demand merchandise, it eliminates inventory carrying costs and the associated risks. This technology not only simplifies the selling process but also increases profitability margins for sellers. From a technical perspective, the seamless integration means that creators can manage merchandise directly through their TikTok Shop handles, streamlining operations and enhancing user experience. This is an innovative step that could set a new industry standard for social commerce platforms.

Market Research Analyst

The potential market impact of this integration is substantial. TikTok, with its immense user base, represents a vast opportunity for monetization through direct sales. By reducing the barrier to entry for creators, VERB is tapping into a large and diverse pool of potential sellers. This move could lead to a surge in the number of creators offering merchandise, thereby increasing overall transaction volumes on the platform. However, the success of this initiative will depend on user adoption and the perceived value of the offered merchandise. If the technology proves effective, it could result in significant revenue growth for both TikTok Shop sellers and VERB.

First-Of-Its-Kind Seamless VERB Tech Expanded Integration Empowers TikTok Shop Brands and Creators To Offer Custom Print-On-Demand Merchandise Directly Through Their TikTok Shop Eliminating Inventory Carrying Costs

LOS ALAMITOS, Calif. and LAS VEGAS, June 20, 2024 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (Nasdaq: VERB) ("VERB" or the "Company"), the trailblazing force behind MARKET.live, is thrilled to announce a first-of-its-kind groundbreaking expanded tech integration with TikTok Shop, empowering TikTok Shop creators and brands to offer custom merchandise directly through their TikTok shop, utilizing their TikTok Shop handle, without the burden of inventory management costs. Utilizing this new tech, TikTok Shop sellers can produce and sell custom bespoke inventory on-demand, on a per order basis, as and when a customer places the order, eliminating odd-lot inventory costs, breakage, and other inventory management expenses. This exciting new expansion of VERB’s technology integration with TikTok Shop is expected to result in increased margins and increased profits for TikTok Shop sellers working with MARKET.live, as well as increased revenue for VERB. This technology integration with TikTok Shop marks a significant leap in social commerce.

Among the first to launch this new technology is well-known motivational speaker, author, entrepreneur, philanthropist and all around media maven, David Meltzer, who immediately embraced this cutting-edge technology for his TikTok Shop to service his impressive 880K+ followers. Using this technology during his livestreams, David Meltzer will now be able to simply toggle on a button in his dashboard and offer custom branded merchandise, such as T-Shirts, hats, and other branded merchandise for sale to his fans and followers without incurring any inventory carrying costs.

Sellers using this new tech need not struggle with trying to predict how many items of a particular size or a particular color they need to buy and store in inventory in the hope that those are the items that are eventually purchased. This seamless selling experience allows TikTok creators, brands and other sellers to monetize their customer and fan base in a much more effective and profitable manner.

"We are excited to unveil this revolutionary expanded integration with TikTok Shop," states Rory J. Cutaia, VERB CEO. "By eliminating the costs and difficulties associated with inventory management and control, we’ve essentially eliminated the barriers to entry for tens of thousands of creators that seek to capitalize on the enormous potential that livestream shopping represents, particularly on TikTok."

For more information, please visit MARKET.live or follow the latest updates on social media. 

Follow MARKET.live here: 

• MARKET.live on Facebook
• MARKET.live on TikTok
• MARKET.live on Instagram
• MARKET.live on LinkedIn
• MARKET.live on YouTube

About VERB

Verb Technology Company, Inc. (Nasdaq: VERB) is a market leader in interactive video-based sales applications. The Company’s MARKET.live platform is a multi-vendor, multi-presenter, livestream social shopping destination at the forefront of the convergence of ecommerce and entertainment, where hundreds of retailers, brands, creators and influencers can monetize their base of fans and followers across social media channels. Brands, retailers and creators that join MARKET.live have the ability to broadcast livestream shopping events simultaneously on numerous social media channels, including TikTok, Facebook, Instagram, among others, as well as on MARKET.live, reaching exponentially larger audiences. Creators and entrepreneurs that join MARKET.live’s drop ship program and TikTok affiliate program can earn income selling products from popular MARKET.live retailers. The Company is headquartered in Las Vegas, NV and operates creator studios in Los Alamitos, California and Philadelphia, PA.

FORWARD-LOOKING STATEMENTS 
This communication contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements. Investors are advised to review filings with the Securities and Exchange Commission for additional information on the risks and uncertainties associated with forward-looking statements. 

Investor Relations: 
investors@verb.tech
Media Contact: 
info@verb.tech

FAQ

What does VERB's new technology integration with TikTok Shop involve?

VERB's new technology integration with TikTok Shop allows sellers to offer custom print-on-demand merchandise directly via TikTok, eliminating inventory carrying costs.

How does VERB's integration benefit TikTok Shop sellers?

The integration benefits TikTok Shop sellers by removing the need for inventory management, allowing them to produce and sell custom items on-demand, leading to higher profit margins.

When was VERB's new TikTok Shop technology announced?

VERB announced their new TikTok Shop technology on June 20, 2024.

Who is one of the first adopters of VERB's new TikTok Shop technology?

David Meltzer, a motivational speaker and entrepreneur with over 880K followers, is one of the first to adopt VERB's new TikTok Shop technology.

What is the stock symbol for Verb Technology Company?

The stock symbol for Verb Technology Company is VERB.