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China Douyin Social Commerce Forecast 2023
The Short-Video App Catches Up to Retail Old Guards
Douyin’s ascendance has been undeniable. By the end of 2025, the short-video app will have more users in China than vaunted super app WeChat. Douyin’s foray into ecommerce has been just as remarkable, as the company is already China’s fourth biggest online seller. This year, Douyin’s sales will amount to over a quarter of Alibaba’s while closing in on JD.com’s.
Key Question: How quickly will Douyin’s retail ecommerce sales grow, and how will its sales compare to those of other platforms?
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KEY STAT: Douyin’s retail ecommerce sales in China will grow by 60.0% in 2023, far surpassing growth rates seen by Alibaba, JD.com, and Pinduoduo.
authors
Man-Chung Cheung
Contributors
- Jasmine Enberg
- Principal Analyst
- Jennifer Merritt
- Vice President, Content
- Peter Newman
- Director, Forecasting
- Paul Verna
- Principal Analyst
- Debra Aho Williamson
- Principal Analyst
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