In a bold move to take on ecommerce giants like Amazon and Walmart, TikTok is subsidizing heavy discounts for its new online marketplace, TikTok Shop. TikTok aims to entice U.S. holiday shoppers with up-to-50% discounts, starting October 27th.
TikTok has confirmed that its official Black Friday deals will start at 8 PM on November 23rd and will run through November 30th for Cyber Monday. This move comes just a week after the launch of TikTok Shop in the U.S., which also features an affiliate program for creators.
To make shopping easier, TikTok Shop offers to hold and ship sellers' products using its own fulfillment centers. TikTok creators who sell products through their videos can also benefit from the platform’s new affiliate program.
The company reportedly has ambitious plans, aiming to move $20 billion worth of products worldwide this year. With U.S. consumers having spent over $20 billion online during last year's Black Friday and Cyber Monday, TikTok is eyeing a significant share of this lucrative market.