Here’s a summary of the provided text, focusing on tiktok’s shopping initiatives:
tiktok is aggressively pushing its shopping features, with several new initiatives:
Local Shopping Focus: tiktok is highlighting more local shopping options within its app to increase user engagement. “Deals for You Days” Event: A 13-day sales event (July 7th-19th) featuring brands like Briogeo, PacSun, Fenty Beauty, Crocs, and more, with potential discounts for Venmo users.
Prime Day Competition: The event is strategically timed to coincide with Amazon’s Prime day, aiming to capitalize on increased buyer activity.
live Shopping Emphasis: TikTok is heavily promoting live shopping, a successful tactic in its Chinese counterpart (Douyin).
“LIVE Price Match Guaranteed”: A new program offering cash back to viewers if they find a lower price for featured products elsewhere.
Douyin Success: The Chinese version of TikTok (Douyin) generated a massive $US490 billion in gross merchandise value last year, indicating the potential for significant revenue growth through shopping.
In essence, TikTok is trying to establish itself as a major e-commerce player, leveraging its popular platform and successful strategies from Douyin.
