Douyin Unveils Nine New Measures to Boost Merchant Growth and Reduce Costs
Douyin, the Chinese counterpart to TikTok, has introduced nine new initiatives aimed at enhancing the merchant experience and reducing operating costs on its e-commerce platform. Key measures include commission-free livestreaming and short video features, along with a policy for automatically refunding promotion fees. To further support small businesses, Douyin E-Commerce is investing hundreds of millions of yuan into a Small Merchant Support Fund throughout the year. This fund offers assistance in various areas, such as product launches and long-term operations, with small merchants eligible for up to RMB 6,000 in traffic coupons. Additionally, Douyin E-Commerce announced a significant structural restructuring on December 5, merging its brand merchant group and small-to-medium merchant groups under unified leadership. This change reflects the rapid growth of smaller merchants on the platform. In 2023, Douyin E-Commerce reported a gross merchandise volume (GMV) of approximately RMB 2.7 trillion, with an ambitious target of RMB 4 trillion set for 2024. These moves underscore the company's commitment to fostering a supportive ecosystem for diverse merchants while aiming for substantial financial growth in the coming year.
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Douyin Unveils Nine New Measures to Boost Merchant Growth and Reduce Costs
Douyin, the Chinese counterpart to TikTok, has introduced nine new initiatives aimed at enhancing the merchant experience and reducing operating costs on its e-commerce platform. Key measures include commission-free livestreaming and short video features, along with a policy for automatically refunding promotion fees. To further support small businesses, Douyin E-Commerce is investing hundreds of millions of yuan into a Small Merchant Support Fund throughout the year. This fund offers assistance in various areas, such as product launches and long-term operations, with small merchants eligible for up to RMB 6,000 in traffic coupons. Additionally, Douyin E-Commerce announced a significant structural restructuring on December 5, merging its brand merchant group and small-to-medium merchant groups under unified leadership. This change reflects the rapid growth of smaller merchants on the platform. In 2023, Douyin E-Commerce reported a gross merchandise volume (GMV) of approximately RMB 2.7 trillion, with an ambitious target of RMB 4 trillion set for 2024. These moves underscore the company's commitment to fostering a supportive ecosystem for diverse merchants while aiming for substantial financial growth in the coming year.
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