English|ByteDance Rolls Out Online Shopping App Fanno in Europe
【English|ByteDance Rolls Out Online Shopping App Fanno in Europe】BEIJING, December 31 (TMTPOST) — TikTok’s parent company ByteDance has recently rolled out an online shopping app named Fanno in Europe, in another attempt to tap into the overseas market after launching TikTok Shopping in the United States.
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Image Source: Visual China
Fanno is a new project from ByteDance that is independent of TikTok. It is a comprehensive e-commerce app with a different target audience and market. Currently, Fanno mainly targets European markets such as Germany, France, Italy, the UK and Spain, selling a comprehensive catalog of products to consumers.
Fanno now mainly sells consumer electronics like smartphones, clothes, cosmetic products, bags, pet products and items for gym use. The e-commerce platform already has around 40,000 SKUs (stock-keeping unit).
The new e-commerce platform has a marketing positioning similar to China’s Pinduoduo, which focuses on attracting large order volumes through low prices. Most of the products that are currently available on Fanno are priced around 1~16 euros. As for products that are supposed to be more expensive such as watches, clothes and accessories, they are priced within the range of 1~5 pounds.
Fanno also has group-buying services, which allows the platform to attract traffic with discounts. Users can even get stuff on Fanno for only 0.01 pounds. Fanno’s Top Deal, a discount activity that is available every day, offers discounts up to 60% off. In addition, Fanno has special discount events for holidays as well, such as Black Friday sales.
ByteDance’s Fanno mainly sells products directly from factories instead of big brands. The majority of products on its platform come from cross-border e-commerce vendors on Amazon, while some are from fast fashion platform Fashionline.
Fast fashion clothes are Fanno’s main products on the platform. China’s strong clothing manufacturing industry can supply Fanno with the latest clothing items quickly.
Fanno has a 3.3 rating out of 5.0 on the App Store.
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