TikTok announced that TikTok Shop will hold a "Deals For You Days" sales event in the U.S. starting on July 9, shortly after Amazon's Prime Day on July 16 and 17. This move aligns with other retailers who have created competing sales events around Prime Day.
Event Details
- Products on Sale: Fashion and beauty products, backyard entertainment essentials, decor, summer reading bestsellers, and more.
- Exclusive Deals: Products from brands like L’Oréal Paris, Maybelline New York, NYX Professional Makeup, Our Place, Too Faced, and Zwilling USA.
- Interactive Content: Brands and merchants will engage in content challenges, short videos, and LIVE shopping events offering real-time discounts.
TikTok's E-Commerce Ambitions
TikTok aims to grow its TikTok Shop U.S. business tenfold to $17.5 billion this year. The event targets Amazon's Prime Day but also aims to compete with other Chinese-owned companies like Temu and Shein.
Market Context
- Global Sales: TikTok was expected to achieve $20 billion in global gross merchandise value in 2023, with most sales in Southeast Asia.
- U.S. Expansion: TikTok is now focused on replicating this success in the U.S.
- Social Commerce Growth: eMarketer forecasts social commerce sales to more than double from $67 billion in 2023 to $144.5 billion by 2027.
