TikTok's E-commerce Blitz: Social Media Platform Targets Holiday Goldmine Against Amazon And Walmart
Portfolio Pulse from Nabaparna Bhattacharya
TikTok, owned by ByteDance, is launching a month-long discount spree on its newly launched marketplace Shop, offering up to 50% discounts to compete with Amazon and Walmart during the holiday season. The company aims to achieve $20 billion in global merchandise sales this year. TikTok's marketplace allows select users to tag and sell products directly through their videos. Amazon's and Walmart's Black Friday sales are expected to kick off on Thanksgiving Day and run through Nov. 24.
September 16, 2023 | 4:53 pm
News sentiment analysis
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NEGATIVE IMPACT
Amazon may face increased competition from TikTok's aggressive discount strategy during the holiday season.
TikTok's aggressive discount strategy and its aim to achieve $20 billion in global merchandise sales this year could pose a significant threat to Amazon's sales during the holiday season.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Walmart could face increased competition from TikTok's aggressive discount strategy during the holiday season.
TikTok's aggressive discount strategy and its aim to achieve $20 billion in global merchandise sales this year could pose a significant threat to Walmart's sales during the holiday season.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80