Douyin and TikTok see rapid e-commerce growth in China and Southeast Asia: report

ByteDance’s quick video app Douyin (TikTok outdoors China) famous that customers spent RMB 1.41 trillion ($208 billion) shopping for issues by the app, a 76% annual enhance, in keeping with The Information, citing inner knowledge. At the identical time, TikTok noticed a powerful four-fold growth in e-commerce spending in Southeast Asia, with gross merchandise quantity (GMV) reaching $4.4 billion. The quick video app plans to broaden its procuring enterprise to extra nations, together with the U.S., Brazil, and Spain, sources instructed the report. [The Information]