TikTok plans to subsidize merchants with heavy discounts of up to 50% off the cost of selling on Down Townthe platform during the upcoming month-long Black Friday shopping festival, according to Bloomberg. A spokesperson from the short video platform has confirmed the plan to Bloomberg, which the company hopes will boost its freshly launched online marketplace place in the US. TikTok will conduct training courses for sellers starting this week, with direct discounts likely to add to an e-commerce price war with rivals including US-based Amazon as people try to cope with high inflation. [Bloomberg]
