TikTok is gearing up to challenge Amazon’s Prime Day event in July. Social Network announced the TikTok Shop is holding a “Deals for You Days” sales event in the US starting July 9, it reported on Thursday.
The announcement comes days after Amazon revealed its annual event. Prime Day Sales It will happen on 16th and 17th July.
Prime Day’s historic success has inspired other retailers, both large and small, to adopt the day to run competitive sales. Now you can count TikTok among those doing the same.
TikTok says that this sale event will offer deals on fashion and beauty products, backyard entertainment essentials, decor, summer reading bestsellers and more. Like Amazon’s Prime Day sale, TikTok Shop will offer exclusive deals on select products. This sale event will offer exclusive sales on products from L’Oréal Paris, Maybelline New York, NYX Professional Makeup, Our Place, Too Faced and Zwilling USA.
During the sale event, brands and merchants will participate in content challenges for short videos and live shopping events where they can interact with their followers and share their favourite products and bestsellers. Live events will offer discounts on popular products in real-time.
TikTok is betting big on its e-commerce efforts and aiming to expand the size of its business. TikTok Shop’s US business grows tenfold This year it has reached $17.5 billion. With this upcoming deals event, TikTok is looking to take on one of the biggest sales events in the US. It’s worth noting that while this specific event appears to be targeting Amazon, TikTok Shop is also looking to take on fellow Chinese-owned companies Temu and Shein, both of which have become popular in the US.
Last year, Bloomberg informed of TikTok is expected to garner nearly $20 billion in global gross merchandise value in 2023, with most sales seen in Southeast Asia. TikTok is now looking to bring that success to the US
TikTok’s ambitions for its e-commerce product aren’t surprising, as social commerce sales are expected to grow over the next few years. eMarketer ForecastSocial commerce sales are estimated to more than double from $67 billion in 2023 to $144.5 billion by 2027.
tiktok-to-challenge-amazon-prime-day-with-its-own-sales-event-in-july-techcrunch
