TikTok is gearing up to challenge Amazon’s Prime Day event in July. The social network was announced on Thursday when the TikTok Shop runs a “Deals For You Days” sales event in the US starting on July 9.
The announcement comes just days after Amazon revealed that its annual Prime Day sales will take place on July 16 and 17.
The success of Prime Day has led other retailers, both large and small, to choose the day to hold competitive sales. Now you can count TikTok among those who do the same.
TikTok says the sales event will offer deals on fashion and beauty products, backyard entertainment essentials, decor, bestselling summer reads and more. Like Amazon’s Prime Day sales, the TikTok Shop will offer exclusive deals on select products. The sales event will offer exclusive discounts on products from L’Oréal Paris, Maybelline New York, NYX Professional Makeup, Our Place, Too Faced and Zwilling USA.
During the sales event, brands and marketers will participate in content challenges for short videos and LIVE shopping events where they can interact with their followers and share their favorite products and best sellers. LIVE events will offer discounts on popular products in real time.
TikTok has bet big on its e-commerce efforts and aims to grow its US TikTok Shop business tenfold to $17.5 billion this year. With this upcoming event deals, TikTok wants to take on one of the biggest sales events in the U.S. It’s worth noting that while this particular event seems to be aimed at Amazon, TikTok Shop also wants to take on other Chinese companies Temu and Shein, both have become popular in the US
Last year Bloomberg mentionted that TikTok was expected to garner around $20 billion in global gross merchandise value by 2023 and that the majority of sales were in Southeast Asia. TikTok is now investing in bringing that success to the US
TikTok’s ambitions for its e-commerce product are not surprising, as social commerce sales are expected to grow in the coming years. According eMarketer forecastssocial commerce sales are expected to more than double to $144.5 billion by 2027 from $67 billion in 2023.
