Douyin saw e-commerce GMV rise 80% year-on-year in 2022

TikTok’s China sister app Douyin saw an 80% improve in e-commerce complete gross sales final yr, though particular figures weren’t disclosed. According to a earlier report by tech outlet The Information, shoppers spent RMB 1.41 trillion ($201.4 billion) on purchases by the brief video platform in 2022. Douyin is actively encouraging its video viewers to purchase items through livestream or {the marketplace} channel throughout the app because the ByteDance-owned platform seeks to diversify its income streams. During Douyin’s annual ecosystem convention held in Guangzhou on Tuesday, Wei Wenwen, president of Douyin’s e-commerce division, revealed plans to take a position RMB 10 billion to help retailers and their companies on the platform. [36Kr, in Chinese]