TikTok is incentivising retailers to use its shop function by offering huge cash prizes

TikTok is attempting to ramp up the amount of retailers that are using its platform to sell their goods by offering huge cash incentives, according to Business Insider.

Leaked emails showed TikTok contacting small businesses in the UK and inviting them to become a “TikTok Seller” for the opportunity to win up to £10,000.

The emails also revealed how 13 of the platform’s top retailers will get cash prizes every month in a competition TikTok is calling a “seller championship”.

Whichever retailer is ranked at the top of the pile will win £10,000, while the next two retailers will grab £5,000 each. The next 10 retailers will receive £1,000.

READ MORE: TikTok is the world’s fastest growing brand

TikTok is also offering businesses vouchers if they are able to to post at least five videos which includes the TikTok Shop functionality, which takes users to a checkout without ever leaving the social media platform.

Retailers will get the chance to earn up to £3,000 in vouchers every month, according to a TikTok spokesperson on a webinar.

The vouchers that are being offered a rewards for going live a certain number of times each month for at least two hours a time as the company tries to get livestream shopping off the ground in the UK.

Tech investor Rui Ma told Business Insider the subsidiaries were standard practise for Chinese firms.

She said it “makes a lot of sense” that the social media giant is “going so deep on ecommerce,” adding it was “an obvious trillion-dollar opportunity” that was “synergistic” with its advertising business.

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