The other TikTok Shop shoe drops

From The Information:

The company on Wednesday told sellers it will start taking a bigger cut of the sales they make on its app, by raising the commission it charges on most items to 8% over the next few months from 2% plus 30 cents per transaction currently. At the same time, TikTok Shop has started reducing some subsidies for merchants that sell on the app, according to a person familiar with the changes, limiting the offers to top-selling items as the company slashes its spending on the service.