In the live broadcast room, see growing businesses
Recently, Douyin E-commerce held an event in Beijing titled “Merchant Growth in the Live Stream.” During the event, it was revealed that in the past year, Douyin E-commerce’s Gross Merchandise Volume (GMV) saw a remarkable year-on-year growth of 46%, with the GMV from shelf scenarios increasing by an incredible 86%. This growth demonstrates a robust transaction rate. Notably, the platform continues to attract new merchants, boasting an 83% increase in the number of new merchants joining Douyin E-commerce. Furthermore, live streaming by active merchants contributed to a 57% increase in sales, highlighting the vibrant ecosystem of the platform. The event also released the “Douyin E-commerce Merchant Growth Stories” handbook, where outstanding growth-oriented merchants shared their entrepreneurial journeys.
From interest-driven e-commerce to a comprehensive approach to interest e-commerce, data from various dimensions indicate that the Douyin E-commerce ecosystem remains dynamic and thriving. This vitality stems from continuous growth and innovation. For a thriving ecosystem, it is vital to introduce new forces consistently. In the past year, the number of new merchants on Douyin E-commerce surged by 83%. From January to September this year, the number of new brand merchants increased by 165%, reflecting ongoing business development within the platform.
This vibrant ecosystem isn’t built in a vacuum; it’s the result of sustained organizational growth. Starting from the exploration of shopping cart and bag features, to the introduction of “interest e-commerce” in 2021, and the evolution into “comprehensive interest e-commerce” in 2022, Douyin E-commerce has consistently maintained an innovative stance. This innovation provides richer consumer experiences while simultaneously fostering new business growth for merchants.
The attractiveness of Douyin E-commerce for new merchants can be summarized as achieving a blend of product and effectiveness. In terms of brand promotion, the comprehensive interest e-commerce model integrates various formats such as short videos, live streaming, shopping malls, and search features, allowing for a more three-dimensional and flexible presentation of product characteristics. This innovation shortens the consumer decision-making process and reduces marketing costs for merchants; businesses also benefit from a direct connection with consumers, enabling demand-driven customization and improving supply-demand efficiency.
A recent example is the “Beijing Olympics Backpack,” which gained immense popularity thanks to the Paris Olympics. The manufacturer, Xiangxing Group, hosted a live stream on Douyin E-commerce on July 26, 2024, drawing over two million viewers and surpassing three million yuan in sales. Sixteen years later, this resulted in significant financial success. Similarly, entrepreneur Hongjun launched his “Yipin Tian Shen Seafood Flagship Store” on Douyin E-commerce in March this year. By tapping into the rapid growth of fresh produce on the platform, he achieved impressive results within just four months, with one live stream generating nearly 20 million yuan in sales.
In this comprehensive interest e-commerce model, “people” are no longer just salespeople in physical stores; they have evolved into live stream hosts providing interactive experiences. “Goods” extend beyond traditional products to encapsulate the brand stories and cultural values behind them. Additionally, the “stage” transcends time and space, allowing consumers to watch live streams and shop from anywhere at any time via mobile devices.
Of course, the rapid growth of new merchants is also supported by substantial platform assistance at the operational level. To lower the entry barriers for new merchants, Douyin E-commerce offers full support with “zero-cost entry” for those opening Douyin stores, along with “zero-cost trial operations” for certain categories. New merchants aren’t required to pay a deposit initially and can begin operations with support and training, ensuring their business stabilizes quickly. The platform also provides support through no-commission product cards and reduced deposits for new businesses, enhancing operational efficiency and profitability.
In the long run, a commercial ecosystem must achieve sustainable high-quality operations through effective platform governance. As a platform-centric e-commerce, governance is a crucial topic for Douyin’s comprehensive interest e-commerce initiative. To this end, Douyin E-commerce explores new boundaries in consumer experience with a focus on “good products, good content, and good service,” creating a superior online business environment.
In practical terms, Douyin E-commerce continuously upgrades platform rules related to content, product governance, and price management. By diversifying products, enhancing merchandise presentation, refining marketing strategies, and leveraging data analysis, the platform optimizes its operational methods while ensuring a secure business environment for merchants. Currently, during the Douyin Mall’s Double 11 event, the platform is offering discounts such as 15% off on single items and direct price reductions, catering to diverse consumer shopping needs. Additional services include worry-free returns for clothing, prior inspection for jewelry, refunds for spoiled fresh produce, and trade-in options for home appliances, reinforcing consumer rights while partnering with merchants for sustainable growth.
Ultimately, whether through substantial financial support or meticulous platform governance, the ongoing development of Douyin E-commerce is fundamentally rooted in respect for commercial principles, keen insight into market needs, and a genuine commitment to collaborating with merchants, consumers, and ecosystem partners to foster a healthy, stable, and mutually beneficial commercial environment.
