① Recently, Byte launched an app called “Douyin Mall Edition” to compete with Taobao, JD, and Pinduoduo. This is also the first time that Douyin e-commerce has launched a comprehensive independent e-commerce platform in addition to the Douyin app. ② Douyin Telecom has agreed on a total turnover (GMV) target of over 3 trillion yuan for the whole year. To reach the target, Douyin e-commerce will need to grow by more than 36%, several times the growth rate of the entire e-commerce market.
According to media reports, recently, Byte launched an app called the “Douyin Mall Edition”, which focuses on “value-for-money, affordable choices,” with the intention of competing with Taobao, JD, and Pinduoduo. This is also the first time that Douyin e-commerce has launched a comprehensive independent e-commerce platform in addition to the Douyin app.
According to reports, the relevant person in charge of Douyin e-commerce said, “We have observed that some users have strong demand for active shopping. In order to better serve these users, Douyin e-commerce has launched the Douyin Mall version to help these users find good products at good prices and manage orders easily.” Earlier, Douyin e-commerce published a summary of 2023. According to the announcement, over the past year, Douyin's shelf business grew rapidly. The mall GMV increased 277% year-on-year, and the cumulative number of authors with a GMV exceeding 100,000 yuan exceeded 600,000. Douyin e-commerce has set “price power” as the highest priority task in 2024. Following Pinduoduo, Alibaba, and JD, it is another e-commerce platform that clearly elevates “low price” internally as its core strategy. Douyin Telecom has agreed on a total turnover (GMV) target of over 3 trillion yuan for the whole year. In 2023, the total turnover of Douyin e-commerce was around 2.2 trillion yuan. Compared with that, Pinduoduo has already exceeded 4 trillion yuan. To reach the target, Douyin e-commerce will need to grow by more than 36%, which is several times the growth rate of the entire e-commerce market.
According to the Finance Federation's theme library, among the relevant listed companies:
Many subsidiaries, including Bafang Tengtai, a subsidiary of Simei Media, are comprehensive agents for ByteDance's massive engines, and service providers for the massive number of engines in Chuan.
Shengguang Group's big data platform aims to provide customers with one-stop digital marketing services to meet the diversified marketing needs of customers. The company is Douyin's massive engine agent.