TikTok’s China sister app Douyin saw an 80% increase in e-commerce total sales last year, although specific figures were not disclosed. According to a previous report by tech outlet The Information, consumers spent RMB 1.41 trillion ($201.4 billion) on purchases through the short video platform in 2022. Douyin is actively encouraging its video viewers to buy goods via livestream or the marketplace channel within the app as the ByteDance-owned platform seeks to diversify its revenue streams. During Douyin’s annual ecosystem conference held in Guangzhou on Tuesday, Wei Wenwen, president of Douyin’s e-commerce division, revealed plans to invest RMB 10 billion to support merchants and their businesses on the platform. [36Kr, in Chinese]
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