On Monday, Douyin e-commerce launched its yearly report for 2023, exposing a remarkable rise in Gross Merchandise Volume (GMV) by 277% year-on-year.
The platform has actually seen considerable activity, with as numerous as 8.84 million material developers leveraging live streams, brief videos, and composed material to promote items and produce earnings. Of these, over 600,000 developers reported a cumulative GMV going beyond 100,000 yuan.
The previous year has actually likewise seen Douyin E-commerce making significant strides in supporting the sale of farming specializeds, with a shocking 47.3 billion systems offered. The variety of e-commerce suppliers in the farming sector has actually seen an 83% boost compared to the previous year, with more than 24,000 suppliers reporting yearly sales going beyond one million yuan.
Douyin stressed the capacity for development in the interest-based e-commerce sector, with their platform’s GMV growing by over 80% in the previous year alone.
In a relocation created to improve customer shopping experience, Douyin E-commerce likewise started a rapid refund service post-delivery previously this year. This follows comparable practices embraced by e-commerce giants Taobao and JD.complacing Douyin as a competitive gamer in the e-commerce landscape.
SEE ALSO: Alipay Is Testing the Social Feature ‘Interest Community’
Register today for 5 totally free short articles regular monthly!