TikTok Announces Black Friday Discounts. Here’s What It Means for E-Commerce Brands
September 22, 2023
TikTok is set to subsidize discounts of up to 50% for sellers on its newly launched TikTok Shop, a move aimed at gaining traction with U.S. shoppers during the holiday season. This signals increased competition for brands like Amazon, Walmart, Facebook, and Instagram. With last year’s Black Friday and Cyber Monday seeing U.S. shoppers spend over $20 billion online, TikTok’s subsidy is expected to boost sales and give the platform a significant share of the market.
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