EU .- Walmart is an American company known for large stores that sell items of daily use, such as clothing, groceries, televisions, among others. TikTok is a Chinese-owned app that in just a few years has wowed hundreds of millions of teens with its entertaining dance videos, lip-sync performances, and comedy routines.
TikTok is on sale ?
At first glance, the two couldn't be more different. That's why Walmart's announcement that it would join Microsoft in its bid to buy TikTok's operations in the United States came as a surprise to many users.
Analysts have seen the rise China's meteoric social media commerce, a mix of social media activity and frenzied online shopping, they say Walmart's interest in TikTok makes perfect sense.
TikTok known as Douyin, in Chinese version, is one of several applications in the country that have taken advantage of the increasing number of Chinese buyers who like to buy things on social media platforms.
Social commerce in China It was worth $ 186 billion last year, more than 10 times the value of US sales, according to market research firm eMarketer. The Chinese market is expected to grow 30% this year to $ 242 billion.
Walmart has already recognized the value of e-commerce when it comes to TikTok. The company said Thursday that its interest in the app stems from the way it has “integrated e-commerce and advertising capabilities into other markets,” adding that TikTok could strengthen Walmart's access to consumers.
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