Last week, TikTok unveiled its latest venture, TikTok Shop, in the United States and has quickly shifted gears to make its presence felt during the upcoming holiday shopping frenzy. According to Bloomberg, starting October 27th, TikTok will finance massive discounts—up to 50% off—to vie for the attention of American holiday shoppers, who typically flock to retail giants like Amazon and Walmart for Black Friday and Cyber Monday deals.
The Battle Plan: Black Friday and Cyber Monday Deals
A TikTok representative has verified that official Black Friday promotions will kick off at 8 PM on November 23rd, followed by Cyber Monday offers that will run from November 28th to November 30th. By subsidizing these deals, TikTok aims to carve out a space in the lucrative holiday market and establish its TikTok Shop as a viable alternative to existing retail powerhouses.
High Aspirations with TikTok Shop
The social video platform has taken a comprehensive approach with TikTok Shop, handling storage and shipping through its in-house fulfillment centers. Additionally, the company has introduced an affiliate program, allowing creators to monetize their content by selling products via their videos. TikTok is targeting to facilitate the sale of $20 billion worth of merchandise globally in 2023. The holiday season, which saw Americans spending more than $20 billion online for Black Friday and Cyber Monday last year alone, is perceived as a golden opportunity for TikTok to meet its ambitious sales objectives.
With this aggressive strategy, TikTok is gearing up to make a significant impact during the holidays and become a formidable competitor in the e-commerce arena.