- Amazon.Com, Inc (NASDAQ:AMZN) launched a ByteDance Ltd TikTok-like feature in its app to help customers to buy products from a customized feed of photos and videos.
- Amazon launched the feature for select customers and looks to extend it across the U.S. in the coming months, the Wall Street Journal reports.
- The portal, which Amazon named Inspire, will show users a continuous feed of photos and videos featuring products that customers can purchase through the app.
- Also Read: YouTube, TikTok Scored Over Facebook In Tackling Politically Violent Content, Study Says
- Amazon joined Facebook parent Meta Platforms Inc (NASDAQ:META), Alphabet Inc’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google to capitalize on the popularity of the short-video format.
- Amazon has been recruiting influencers as it has built up its social-shopping business.
- Oliver Messenger, Amazon’s director of shopping, said in an interview, “Video-based content really helps [customers] to understand the product more.”
- The Inspire portal will appear as a lightbulb-shaped icon at the bottom of Amazon’s app.
- When customers click on the widget, it will bring them to a feed that displays a stream of images and videos featuring products.
- The portal will curate content to shoppers’ interests, growing more attuned over time.
- Amazon strategically timed the release of the new future to tap the holiday season rush.
- Price Action: AMZN shares traded higher y 1.49% at $89.78 on the last check Thursday.
- Photo by Christian Wiediger via Unsplash
Wedbush Maintains Outperform on Micron Technology, Lowers Price Target to $85
Wedbush analyst Matt Bryson maintains Micron Technology (NASDAQ:MU) with a Outperform and lowers the price target from $120 to $85.
