TikTok is planning to offer steep discounts on its new online marketplace, TikTok Shop, in an effort to challenge Amazon for Black Friday shoppers.
The company is reportedly offering to subsidize discounts of up to 50% to merchants who participate in the program, which will begin on October 27th and run through November 30th.
The move is part of TikTok’s broader effort to expand its e-commerce business. TikTok Shop allows merchants to sell products directly to users through the TikTok app.
TikTok’s Black Friday deals are likely to be seen as a direct challenge to Amazon. Amazon is the dominant player in the e-commerce market, and it is known for its aggressive Black Friday sales. However, TikTok is hoping that its focus on social commerce and its ability to reach a younger audience will give it an edge over Amazon.
