TikTok has been one of the biggest social media platforms in the world and its emergence in the US market has been one of the case studies that everyone should follow. Talking about TikTok, the company launched its e-commerce venture which is called TikTok Shop in the US earlier this week. With this, TikTok wants to sell the products directly rather than redirecting its audience to other platforms like Amazon and giving them free traffic. Now, a new Bloomberg report suggests that in order to promote its TikTok Shop, the company is going to go all out and play the price war game with Amazon and others.
Bloomberg reports that “TikTok plans to offer steep holiday discounts in a monthlong campaign that will begin in late October” and also mentioned that the company “is hosting training sessions next week with merchants selling on its marketplace. It is offering to subsidize discounts of as much as 50% to entice sellers’ participation in its Black Friday program, which begins Oct. 27 and runs through Nov. 30, according to the documents”. “A TikTok spokesperson confirmed the plans”, Bloomberg added.
TikTok is “betting that the busy holiday period — when US shoppers are projected to spend as much as $284 billion, according to Deloitte — will be a key time to stand out with discounts that compel shoppers to spend money on its new marketplace”. As per the reports, “Some merchants who were invited to test out selling to US consumers earlier this year say video campaigns on TikTok help boost sales on the site, but also on competing sites like Amazon and Walmart where US shoppers are more accustomed to shopping. The steep discounts — bankrolled by TikTok — may help US shoppers become more familiar with spending their money directly through the app”. Bloomberg also reveals that “TikTok will begin its Black Friday-specific sale at 8 p.m. New York time on Nov. 23. Its Cyber Monday sale will take place from Nov. 28 to Nov. 30, according to the documents.” Already, the company “offered free shipping and 20% off coupons to users ahead of the introduction of the designated shopping tab” in order to attract customers to its TikTok Shop.
