TikTok Shop's Resurgence: Navigating Regulations, Market Dynamics, and The Impact of Local Businesses

Tiktok shop (Online shopping Page) by Tiktok was closed on Wednesday 4 October 2023 because the Minister of Trade Zulkifli Hasan said that social commerce platforms may only promote goods or services, but are prohibited from opening transactions facilities also known as buying and selling for users. But, recently reported that Tiktok shop will open again and collab with Tokopedia. ByteDance Ltd the company of TikTok has agreed to invest in GoTo Group. Both of these companies are ready to work together in providing online shopping services (e-commerce). Many users of TikTok shop are exicited as this platform will open again. The sellers who before that have sold their products on TikTok also wait for this platform to open again. But, The market sellers don't support this platform being open again, because they think that this platform makes their customers gone because many consumers choose to shop online as the price is also cheaper than the market. People think that the prices offered in online platforms are more appealing than the original market. Many discounts offered by the platforms make the price cheaper than the markets and it makes people more interested in shopping in an online platform rather than market. By shopping in an online shop, people could just stay at home and then wait for their things to arrive. Expert Staff for finance and UMKM Development, Ministry of BUMN, Loto Srianita, revealed that she and her team had already held a meeting with the TikTok shop in November 2023. Her team requested that the TikTok shop continue to support UMKM Businesses. He said that the government is very open to the presence the TikTok shop as long as it is willing to follow regulations and provide an open door for UMKM Businesses to develop in the TikTok shop.  Apart from that, her team also asked TikTok shop to actively monitor its merchandise transactions so as not to harm UMKM Businesses.