It is reported that the sales of Douyin Life Service exceeded 100 billion in the first quarter, but it has not narrowed the gap with Meituan

News from this site on April 15, according to "LatePost", in the first quarter of this year, Douyin's lifestyle services (mainly composed of in-store catering, in-store comprehensive and hotel and travel businesses) sales before write-off exceeded 100 billion yuan ,The year-on-year growth rate exceeded 100%, and the year-on-year growth rate in the fourth quarter of last year was the same.

According to reports, the sales of Meituan’s in-store business have stabilized at around 200 billion yuan in the past two quarters. In the past six months, the market shares of both parties have not changed significantly.

In April, the Douyin Life Service sales team completed a new round of organizational structure adjustments, striving to cover more small and medium-sized businesses and shorten the gap with competitors.

In 2023, Douyin’s official data shows that the total transaction volume of Douyin’s life service platform increased by 256%, covering more than 370 cities and involving more than 4.5 million stores. This site noticed that in 2023, the transaction volume of short videos on the Douyin platform increased by 83%, the volume of short video releases increased by nearly 1.4 times, the number of graphic and text content releases increased by 2.68 times, and the platform's live broadcast transaction volume increased by 5.7 times.

Informed sources revealed that advertising business will be the focus of Douyin Life Service this year. Compared with mobilizing the sales team to increase sales and earn commissions, it may be easier to create profits by guiding merchants to advertise on the platform.

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