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The TikTok shop already seems to be a place to find reasonably priced stuff, and it's about to get cheaper in July, as the social video site announced a sale event designed to rival Amazon Prime Days (and Walmart's summer sale). The event, which TikTok calls “Deals For You Days," occurs before Prime Day on July 9.
"Brands and retailers such as L'Oréal Paris, Our Place, Too Faced, and Zwilling USA are offering huge savings on thousands of products, exclusively on TikTok Shop," said TikTok in a blog post.
It seems that TikTok was waiting for Amazon to play its hand with the Prime Day dates before announcing its sales event. The company says it'll offer "trending fashion and beauty products, backyard entertainment essentials and decor, summer reading bestsellers, and more." Unfortunately, the company didn't mention anything about tech in its list of categories, so it remains to be seen if anything that appeals to us will be discounted.
As is the TikTok way, the sale is meant to be social. The company explained, "Merchants and creators can participate in content challenges for short video and LIVE shopping events, where they can interact directly with their followers and share their favorite products and best-sellers."
The company announced that a few prominent content creators would participate in the event. These include simplymandys, Canvas Beauty founder Stormi Steele and Tati Westbrook.
TikTok has done well to grow its retail business recently. A report from Bloomberg says the company aims to generate as much as $17.5 billion in U.S. retail revenue this year. Launching a sales event like its Deals For You Days could help the company achieve that goal.
In the long term, assuming TikTok doesn't get banned, eMarketer forecasts that social commerce sales are expected to more than double from $67 billion in 2023 to $144.5 billion by 2027, and TikTok will likely be a massive part of that growth.
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