Latest news with #Bidding
Yahoo
12 hours ago
- Business
- Yahoo
TikTok Adds ‘Countdown Bidding' for Livestream Auctions
This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. TikTok has added 'Countdown Bidding' as a new option for product listings in selected seller live-streams, which is essentially a virtual auction that's run within TikTok Live. As you can see in this example, Countdown Bidding activates an eBay-style auction for your listed products within the livestream, so that viewers can bid on a specific highlighted item. That can help to increase interest in your stream, and boost sale prices, by involving users in a live push to get the item As explained by TikTok: 'Using Countdown Bidding is easy. First, sellers must create a listing for the item in their shop. To prevent shopper confusion, we label the listing clearly as "auction only", which disables the option to add the item to their cart. Sellers must provide all the usual details required for collectibles or pre-owned luxury listings, so shoppers have all the details they need to inform their bidding. Sellers can then pull that listing into a LIVE when using the Countdown Bidding feature, and set a starting bid price and timeframe.' From there, your live viewers can submit bids, which are visible to the audience and the seller. The winner pays at the conclusion of the stream, and the sale is finalized. So all-in-all, a pretty straightforward process. Though it's not available for all product types as yet. 'For now, Countdown Bidding is only available in the collectibles and pre-owned luxury categories.' In addition, TikTok's also raising the price cap on in-app sales from $7,600 to $13,000, in order to better cater to sales in these categories. TikTok continues to push its in-stream shopping options, as it looks to convert its massive audience reach into a bigger business. Live sales, in particular, have been a big winner for the app in other markets, and it's hoping that, eventually, Western users will warm to its in-stream sales options, which will then facilitate significantly more revenue opportunities. Indeed, the Chinese version of TikTok, called 'Douyin,' generated $US490 billion in gross merchandise sales (GMV) in 2024, a 30% increase year-over-year. TikTok reportedly generated around $US30 billion in GMV in 2024, so you can see why the TikTok team is increasingly keen to focus on this element. And while it hasn't caught on as yet, there are signs that TikTok users are growing more interested in its shopping options. In addition to Countdown Bidding, TikTok is also now listing eye and ear care products for sale in the app, while it's also running a major promotion in the U.K. to boost in-stream sales this Summer. Maybe, as younger TikTok-aligned audiences grow up, this will become the new norm, in searching for and buying items in–stream. And with hundreds of billions in growth potential, you can expect to see TikTok continue to push the option. Recommended Reading TikTok Provides New Insights into Top Performing Ad Copy via 'Keyword Insights'
Yahoo
25-03-2025
- Business
- Yahoo
Petrobras Strikes Hydrocarbons at the Aram Block Offshore Brazil
Petróleo Brasileiro S.A. - Petrobras PBR recently made a significant hydrocarbon discovery in the Santos Basin's pre-salt Aram block. The discovery was made at 4-BRSA-1395-SPS, an exploratory well located 245 kilometers from Santos at a water depth of 1,759 meters. Petrobras confirmed the presence of hydrocarbons via different methods, such as wireline loggings, gas shows and fluid sampling. Laboratory analysis will further assess the full potential of the reservoir and guide future exploration efforts. The Aram block acquired in March 2020 in the 6th Bidding Round of the National Agency for Petroleum, Natural Gas and Biofuels (ANP) is considered a vital asset in Petrobras' pre-salt portfolio. The block is acquired under the Production Sharing regime, with Pre-Sal Petróleo S.A. as manager. The consortium operating the block includes Petrobras holding the 80% operating interest, with China National Petroleum Corporation (CNPC) holding the remaining 20%. Aram and Alto de Cabo Frio Central blocks were the only commercial discoveries in the basin announced since 2019. Aram is one of the last discoveries in this play, potentially holding around 1.3 billion barrels of recoverable resources. Petrobras has developed a strategy to form new reserves while launching major revitalization projects to optimize production from existing fields. As it continues to drill in the Aram block, the discovery highlights Brazil's position as a global leader in offshore oil and gas production. The company remains committed to advancing its pre-salt exploration and maximizing resource recovery for long-term energy security. After the discovery of the pre-salt Aram block in 2006, around 80-140 hydrocarbon finds were reported annually. However, it started falling in 2013 and the conditions in 2014 worsened as the oil price plummeted globally. The scenario raised concerns about the replenishment of national-proven hydrocarbon reserves in Brazil. As a result, Brazil has been looking for approval from its environmental regulators to approve oil drilling near the Amazon River to finance a transition to green energy. However, the latest hydrocarbon discovery by Petrobras in the western region of the Búzios field in the pre-salt Santos Basin will help Brazil ease the pressing matter of acquiring approval to drill near the Amazon River. Headquartered in Rio de Janeiro, Petroleo Brasileiro S.A., or Petrobras S.A., is the largest integrated energy firm in Brazil and one of the largest in Latin America. Currently, PBR has a Zacks Rank #3 (Hold). Investors interested in the energy sector might look at some top-ranked stocks like Delek Logistics Partners, LP DKL, Archrock, Inc. AROC and Canadian Natural Resources Limited CNQ. While Delek Logistics and Archrock currently sport a Zacks Rank #1 (Strong Buy) each, Canadian Natural carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Delek Logistics Partners owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The Zacks Consensus Estimate for DKL's 2025 earnings indicates 34.45% year-over-year growth. Houston-based Archrock is a provider of natural gas contract compression services as well as a supplier of aftermarket services for compression equipment. The Zacks Consensus Estimate for AROC's 2025 earnings indicates 46.67% year-over-year growth. Calgary-based Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ's 2025 earnings indicates 5.53% year-over-year growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR) : Free Stock Analysis Report Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report Delek Logistics Partners, L.P. (DKL) : Free Stock Analysis Report Archrock, Inc. (AROC) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
