Why Walmart Wants In On TikTok

In the latest twist in the ever-changing retail industry drama, Walmart, the world’s largest retailer, is joining tech giant Microsoft in a bid for TikTok U.S. For good reason. TikTok could “provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses,” Walmart said in a statement Thursday after reports of the partnership. Why? E-commerce is key in Walmart’s growth strategy and in its fight against archnemesis Amazon. With the coronavirus pandemic driving more consumers to buy online, Walmart, using its store fleet as fulfillment centers for in-store or curbside pickup and grocery delivery, recently reported that Walmart U.S. comparable sales had risen by 9.3%. Sales at its namesake e-commerce site almost doubled. Read more at Forbes.