NEW YORK: Walmart Inc said it is pressing ahead with its goal to invest in TikTok as Oracle Corp takes the lead in a partnership with the Chinese video-sharing app.
But transforming TikTok from a platform where some 50 million US daily users share short-form videos of people dancing and lip-synching into a shopping powerhouse will be a challenge for the Bentonville, Arkansas-based company, analysts say. While TikTok is already on its way to building a robust advertising business, it has yet to articulate a comprehensive plan to sell goods on the app.Rivals are far ahead. Facebook Inc has prioritised building out shopping and payments products in recent years across its suite of apps, which include fast-growing Instagram and WhatsApp as well as its namesake"blue" app, suggesting ambitions to emulate do-it-all Chinese super apps like WeChat.
While Douyin has relied on and brought new business to China’s big e-commerce platforms such as Alibaba, TikTok’s e-commerce ambitions could be underpinned by Walmart. A partnership with TikTok, Smigler said,"would give Walmart a compelling edge over both Amazon and Google, who struggle to help consumers discover new products they didn’t know they needed. That’s the true power of social commerce.”
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