Douyin, TikTok’s China equivalent, saw its live commerce platform continue to soar in 2023, with total transaction volume growing 256% year-over-year, according to data released by the company early this year. The platform now covers over 370 cities and involves over 450,000 businesses.
Douyin live commerce platform is a service platform provided by Douyin for local lifestyle service businesses. It aims to help businesses market and sell their products and services on Douyin.
Short videos were the most popular type of content on the platform, accounting for 83% of total transaction volume. Short video uploads grew nearly 1.4 times, while text content uploads grew 2.68 times.
Douyin Live streaming was also a major growth driver, with transaction volume growing 5.7 times. The number of live streams that generated transactions increased fourfold, and the coverage rate of merchant self-broadcasting reached 59%, with self-broadcasting transaction volume growing 4.45 times.
Daily search volume grew 1.57 times, and transaction volume driven by search grew 2.6 times. The most popular live-streaming content categories were:
- Food: Hot/unique dishes, fast food, hot pot, regional dishes, and bakery and desserts
- Services: Massage and bathing, beauty and fitness, hairdressing, car services, and nail and eyelash art
- Travel: Travel agencies, hotels and guesthouses, theme parks, attractions, and zoos
TikTok also saw significant growth in the number of new service providers and group-buying influencers on its platform. The number of new service providers increased 1.79 times, the number of businesses working with service providers increased nearly two times, and service provider transaction volume grew nearly eight times.
The number of group-buying influencers increased 2.89 times, and over 580,000 influencers earned income from the platform. The total transaction volume of influencers grew more than 2 times, and influencer discovery shopping generated 946 billion yuan in revenue.
Chinese influencer platforms: Weibo, Douyin, Kuaishou, Xiaohongshu