Douyin sets sales target of $552.3 billion for this year: report · TechNode

According to local media 36Kr, short video platform Douyin aims to reach an ambitious target of RMB 4 trillion ($552.3 billion) in e-commerce transactions this year. The report added that this figure represents an increase of more than 30% over transactions made via sibling app TikTok in 2023. Douyin’s online retail business has grown to one trillion yuan in just six years, driven by a huge number of daily active users, and the model of combining video sharing with shopping is now well established. The target comes as the ByteDance-owned app continues to eat up market share from older Chinese e-commerce players. Rival Alibaba, which reported GMV of RMB 7.97 trillion for its Chinese consumer-facing businesses in fiscal 2022, did not disclose next year’s numbers, saying instead that its Taobao and Tmall platforms posted a mid-single-digit year-long decline in order volumes in during the year. (36Kr, in Chinese)

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