TikTok is now preparing to enter the consumer market's price war, which is dominated by Amazon, Walmart, Best Buy, and other big competitors.
As its first step, the Bytedance-owned video platform is expected to launch its steep holiday discounts. If you are among the excited TikTok users, here are the major details you need to know.
Price War 2023: TikTok Prepares Its Steep Holiday Discounts
According to Time Magazine, TikTok's steep holiday discounts could arrive as early as October. The platform's sales offer is expected to last for a month, allowing holiday shoppers to enjoy very cheap products.
Once the month-long steep holiday discount effort of TikTok begins, it will rival the sales offers of Amazon and other giant competitors.
As part of TikTok's upcoming holiday initiative, the video platform will host training sessions, which are expected to start before September ends.
These training sessions will help merchants who are using the official TikTok Shop. Aside from this, TikTok could also offer sales discounts of up to 50%, which analysts expect to encourage sellers to participate in the app's Black Friday version.
A TikTok spokesperson explained that the video app is betting on the holiday period this 2023, which experts estimate to generate around $284 billion.
Although it is unsure if TikTok can effectively compete with the discount offers of Walmart, Amazon, and other competitors, the app's popularity can give it a great advantage against them.
TikTok is estimated to have around 150 million monthly active users in the United States alone this 2023. Aside from its very entertaining viral videos, the app's marketplace is also gaining traction, thanks to the creativity of TikTok influencers.
Read also: #SHRINKFLATION: Top French Retail Chain Pressures Companies by Putting Price Warnings on Products
Preparing for TikTok's Steep Holiday Sales
The upcoming TikTok steep holiday discount initiative is certainly exciting. But, as a consumer, you still need to prepare for it to avoid getting scammed.
Luckily, WNCT provided some tips you can follow when ordering goods on the TikTok Shop:
- Instead of a debit card, try using your credit card.
- Avoid being an impulse buyer. If the products are very cheap, but won't be of any use to you, don't buy them.
- Before placing your orders, try researching the seller.
- Check for the reviews. If you see negative comments from other shoppers, such as unresponsive sellers, buy from another TikToker instead.
These are just some of the things you can do to enjoy a hassle-free TikTok shopping experience. You can click here to learn more.
