Douyin – ByteDance’s short video platform in China revealed a huge revenue stream through livestreaming and entertainment services.
Earlier this September, the 921 Goodies Festival shopping program was initiated by Douyin – the China-specific version of TikTok. This short video platform has always attracted a huge number of people watching live streams thanks to more than 600 million monthly users across the country.
The 921 Goodies Festival program will take place until the end of September 21 with many incentives for shopping participants such as coupons or vouchers, etc. All will be done through livestreams on this Douyin platform.
To optimize the shopper’s experience, Douyin has partnered with major shipping companies such as JD Logistics, SF Express and ZTO Express to deliver goods to people in the fastest way.
Douyin’s ambition is not only an entertainment video platform but also a powerful e-commerce exchange.
In addition to online shopping. Douyin has also moved into the food and grocery business, which is currently dominated by Meituan Group in China. In order to compete, Douyin has partnered with Alibaba’s food delivery unit Ele.me, so that all stages of the buyer’s life such as: watching food introduction videos, finding recommended restaurants, choosing dishes, etc. shipping,… are done within only 20-30 minutes.
Douyin is also experimenting with developing a special delivery service in cities blocked by Covid-19 like Shanghai. This company is also deploying a collective freight model to serve large customers such as organizations or businesses.
Douyin Vice President Zhi Ying said that the platform’s online and offline business has grown 30 times over the same period last year, including many other services such as dining and entertainment. , restaurants, hotels, etc. As of the end of August, Douyin is considered to cover more than 370 large and small cities in China, closely linked with local businesses.
“Douyin is not just a platform for entertainment anymore.”
Meanwhile, TikTok – the international version of Douyin still focuses on developing in the direction of short entertainment videos. However, TikTok can completely learn from Douyin’s direction in the Chinese market and help ByteDance hit foreign markets.
ByteDance is one of China’s largest conglomerates, valued at more than $300 billion. The group’s revenue in 2021 reached nearly 60 billion USD, up 70% compared to 2020.
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