Douyin e-commerce responds that this year’s target transaction volume exceeds 3 trillion yuan: the data is untrue

According to a report by "LatePost", Douyin e-commerce plans to set a total transaction volume (GMV) target of more than 3 trillion yuan this year, and it is expected that by 2023, its total transaction volume will reach approximately 2.2 trillion yuan . By comparison, Pinduoduo’s total transaction volume has exceeded 4 trillion yuan. The relevant person in charge of Douyin e-commerce disputed this data and stated that the relevant data was inaccurate.

According to "LatePost" report, Douyin e-commerce has determined "price competitiveness" as its top priority in 2024. This decision makes it another e-commerce platform that has promoted “low prices” as its core strategy, following Pinduoduo, Alibaba and JD.com.

According to people familiar with the matter, Douyin e-commerce plans to expand its low-price strategy in the content field this year. The mall and short videos will actively promote low-price products, while the live broadcast room will continue to present branded products with high customer unit prices.

According to previous reports on this site, Douyin e-commerce’s mall GMV (gross merchandise transactions) in 2023 increased by 277% year-on-year. In the past year, a total of 8.84 million Douyin e-commerce authors made income through live broadcasts, short videos, showcases, pictures and texts, etc. The number of authors whose cumulative GMV exceeds 100,000 yuan exceeds 600,000.

Douyin recently released the "2023 Annual Data Report (Full Version)". The data shows that the total transaction volume of the Douyin Life Service Platform increased by 256% in 2023, covering more than 370 cities and involving more than 4.5 million stores.

Compared with last year, the transaction volume of short videos on the Douyin platform increased by 83% this year, the number of short video releases also increased by nearly 1.4 times, and the number of graphic and text content releases increased by 2.68 times. In addition, the live broadcast transaction volume of the platform also achieved amazing growth, increasing by 5.7 times. The data shows the remarkable progress the Douyin platform has made as it continues to grow and attract more users and content creators.

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