According to Bloomberg, in order to attract its sellers to participate in the “Black Friday” shopping festival that starts on October 27 and ends on November 30, TikTok will provide sellers with discount subsidies of up to 50%. To attract consumers to shop at its recently opened TikTok Shop.
Before this, overseas consumers usually shopped at established retailers such as Amazon and Walmart. According to reports, a TikTok spokesperson confirmed these plans, and TikTok will launch its “Black Friday” promotion at 20:00 New York time on November 23. According to TikTok documents, a promotion called “Cyber Monday” will be launched from November 28 to November 30.
TikTok announced on September 12 that it would officially launch the e-commerce service TikTok Shop in the United States. This business has been tested among American TikTok users for several months.
With this official launch, in addition to short videos and live shopping, TikTok e-commerce has also launched a series of services for merchants and creators, including product display pages, malls, and “affiliate programs” that connect merchants and creators. At the same time, TikTok e-commerce has also launched the “TikTok Fulfillment Plan” (Fulfilled by TikTok) to help merchants store, select, package and deliver goods, as well as a secure payment system developed in cooperation with third parties.
In addition, TikTok will further expand the launch of the “mall” entrance. The “Mall” is located on TikTok’s homepage and can bring more exposure to merchants and products. Currently, 40% of TikTok’s US user interfaces include a “mall” entry, and it is expected that all US users will be able to see the “mall” on the homepage in early October.
A TikTok spokesperson said last week that there are more than 200,000 verified U.S. merchants selling legal products on TikTok Shop, and the business’s goal this year is to sell $20 billion on the global platform (Currently about RMB 145.6 billion) products.
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