The fight is on in the arena of livestream #commerce. Who will be the winner that comes out on top?
There’s only one explanation behind this sudden move. They’re going after #Taobao. That’s because most of Douyin’s sales are happening through Taobao links. #Bytedance (Douyin’s parent company) wants that piece of the pie.
This move is #shocking because it’s incredibly premature. Douyin’s native store is far from ready.
#Livestreaming (and short #videos) has become an economy of its own and today #Alibaba is still the king of this hill. #TaobaoLive did 250 billion RMB (U$36 billion) in 2019 and is on track to hit double that amount by the end of 2020. #Kuaishou is well on its way to 250 billion RMB this year and Douyin is going for 200 billion RMB.