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Photo: Francis Dean/Corbis via Getty Images

Walmart's efforts to join Microsoft on a TikTok acquisition could serve young shoppers to the retail giant on a silver platter.

The big picture: The Trump administration has been forcing a sale of TikTok due to ongoing national security concerns over ByteDance, it's Chinese owner. The app is most popular with young people who could be the future of Walmart's customer base, AP notes.

  • Young people are more inclined to shop digitally, driving social media apps including TikTok and Instagram to build in-app shopping functions.
  • TikTok could give Walmart a platform to promote its online products. The retailer could also get a cut of revenue from other dealers' in-app sales.

Between the lines: Digital shopping is up dramatically during COVID-19 due to social distancing. Walmart's online sales almost doubled last quarter due to a rise in online grocery shopping, AP adds.

  • But Walmart’s online sales still pale in comparison to Amazon, who rules the e-commerce arena.

What to watch: TikTok will be banned from the U.S. if no acquisition is completed by Sept. 15.

Go deeper

In photos: Black Friday shopping across the U.S.

Customers shop at Macys on Nov. 27 in New York City. Photo: Kena Betancur/AFP via Getty Images

Many Americans braved shopping malls and department stores to shop in-person on Black Friday.

Why it matters: Coronavirus infections are still on the rise across much of the U.S. during a season of travel and holiday gatherings. Hospitals across the country, especially in rural areas, are still overwhelmed.

1 hour ago - World

Putin foe Navalny to be detained for 30 days after returning to Moscow

Russian opposition leader Alexey Navalny. Photo: Oleg Nikishin/Epsilon/Getty Images

Russian opposition leader Alexey Navalny has been ordered to remain in pre-trial detention for 30 days, following his arrest upon returning to Russia on Sunday for the first time since a failed assassination attempt last year.

Why it matters: The detention of Navalny, an anti-corruption activist and the most prominent domestic critic of Russian President Vladimir Putin, has already set off a chorus of condemnations from leaders in Europe and the U.S.

Biden picks Warren allies to lead SEC, CFPB

Photo: Justin Sullivan/Getty Images

President-elect Joe Biden has selected FTC commissioner Rohit Chopra to be the next director of the Consumer Financial Protection Bureau (CFPB) and Obama-era Wall Street regulator Gary Gensler to lead the Securities and Exchange Commission (SEC).

Why it matters: Both picks are progressive allies of Sen. Elizabeth Warren (D-Mass.) and viewed as likely to take aggressive steps to regulate big business.