TikTok is all prepared to take on Amazon during Prime Day event in July. The social network disclosed on Thursday that TikTok Shop is running a sales event called "Deals For You Days" within the United States, launching on July 9.
This news arrives just in time as days after confirming its annual Prime Day Sales would be taking place from July 16 and July 17, Amazon ended.
The success of Prime Day has led other large and small retailers to co-opt the day for their competing sales. Now you can count TikTok among them, too.
TikTok touts the sales event that promises deep discounts on clothing, beauty, backyard entertainers and essentials, and much-needed home decor. Readers in the summertime would find these items interesting also. Exclusives may differ but will include items sold just for select versions on products with a style like Amazon's Prime Day. Exclusive deals from companies L'Oréal Paris, Maybelline New York, NYX Professional Makeup, Our Place, Too Faced, and Zwilling USA will be listed.
Brands and merchants shall do content challenges on short videos and LIVE shopping events in real-time during the event to engage with their followers. They can share products that they love and what's best-selling to share with their audience. During the LIVE events, there will be popular products priced in real-time.
To finance its e-commerce efforts, the company has taken a risk and is striving to enhance its TikTok Shop U.S. business size ten times to as high as $17.5 billion. The upcoming deals event places TikTok eye-to-eye with one of the major U.S. sales events. Obviously, this particular move targeted Amazon, but TikTok Shop is also looking to attack fellow Chinese-owned companies that Temu and Shein happen to be, which become rather popular in the United States.
Last year, Bloomberg reported that TikTok is going to generate approximately $20 billion in gross merchandise value across the world in 2023, and most of the sales were seen in Southeast Asia. It is now invested in bringing that success to the U.S.
TikTok's e-commerce product plans are not surprising since social commerce sales are expected to grow in the coming years. According to eMarketer's forecast, social commerce sales are expected to more than double to $144.5 billion by 2027 from $67 billion in 2023.