At the year-end celebration of the Douyin Life Services NKA business, Wang Xueqin, Vice President of Douyin Life Services, stated that nationwide chain merchants have achieved new business breakthroughs on Douyin Life Services. In 2024, Douyin Life Services will add over 100 chain brands with sales exceeding 100 million, and under the condition of maintaining high growth in the number of physical stores of chain merchants, the average GMV per merchant store reached 1.2 times that of last year, with over 7,000 products achieving sales in the million category. In the live broadcast field, more than 30 live broadcasts each day achieve sales of over a million. It is understood that with the joint efforts of the platform and merchants, the brand chain rate continues to rise, and the scale of Douyin Life Services merchants' stores and market scale is continuously expanding. In the past year, 74% of chain brands have realized a growth in the number of operating stores, with the number of newly added stores by merchants exceeding 0.12 million in the fourth quarter alone. (Sina Technology)