TikTok is reportedly preparing to roll out heavy holiday discounts starting next month according to reports.
A Bloomberg report, citing internal documents, said the social media app is hoping these bargains can attract consumers to its newly launched marketplace as it aims to compete with Amazon and Walmart.
According to the report, TikTok is offering to subsidise discounts of as much as 50 per cent to get sellers to take part in its Black Friday program, which will run from 27th October through 30th November.
TikTok — which has 150 million American users — launched its shopping platform to a nationwide audience in the US last week after testing it last year.
The shopping feature includes a product showcase, where users can browse product tiles, read reviews and purchase directly from a favorite brand’s profile. There is also an affiliate program, where creators and merchants connect via “commission-based product marketing opportunities” that let creators “monetize their creativity” by sharing products in short videos and livestreams.
The Bloomberg report, citing data from Deloitte, notes shoppers are projected to spend as much as US $ 284 billion during this year’s holiday season.
