TikTok Prepares To Present Big Discounts On TikTok Shop For Holiday Shopping Season

TikTok will try to increase the presence of its new online marketplace, TikTok Shop, by funding a massive discount during the holiday shopping season, which began on October 27, Bloomberg reported.

The social video site reportedly hopes that by subsidizing a discount of up to 50 percent, they can get a place among US holiday season buyers, who come in large quantities for massive shopping at retailers such as Amazon and Walmart every year in November. In Indonesia, this itself has been running with a massive discount on TikTok Shop of up to 50 percent.

Bloomberg said a TikTok spokesperson had confirmed the plan, with official Black Friday offerings starting at 20.00 on November 23 and offerings for Cyber Monday taking place from November 28 to November 30.

TikTok recently launched TikTok Shop in the US, which offers to store and deliver seller products using their own fulfillment centers and launch affiliate programs for creators selling products through their videos.

The company reportedly hopes to sell products worth US$20 billion (Rp306 trillion) this year globally, and the holidays will be a big part of that. The reason is, people in the US spent more than US$20 billion online only on Black Friday and Cyber Monday last year.