Douyin (Chinese version of TikTok; referred as TikTok below) has a GMV target of 200 billion yuan for its live-streaming e-commerce channel in 2020 according to Chinese media 36Kr.
In 2017, after the overnight success of TikTok, its parent company ByteDance immediately developed its e-commerce advertising system “Luban”, and officially integrated in June 2018 the eCommerce function known as the Shopping Cart, in the system.
After a six-month testing period, the Shopping Cart function was officially open to the public. In the beginning, the minimum threshold to access the function is having more than 10,000 followers and a minimum number of 10 videos published.
After a while, the threshold was adjusted multiple times according to the changes of strategy in different time periods.
Since September 2019, a large number of e-commerce players have flooded into TikTok. The number of products on show in October increased 3 times compared to the previous period.
In November, due...
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