【Future Sex (2018)】
Douyin,Future Sex (2018) the Chinese counterpart to TikTok, has rolled out nine new measures designed to enhance merchant experience and cut operating costs. Among the initiatives are commission-free livestreaming and short video features, as well as a policy to automatically refund promotion fees. As part of what the company says is its commitment to supporting small businesses, Douyin e-commerce will invest hundreds of millions of yuan to establish a Small Merchant Support Fund throughout the year. The fund will provide support across various scenarios, such as product launches, first-order incentives, and long-term operations. Small merchants can receive up to RMB 6,000 ($818.70) in traffic coupons. In a related move, Douyin E-Commerce announced a major restructuring on Dec. 5, consolidating its previously separate brand merchant group and small-to-medium merchant groups under a single leadership. This shift reflects the rapid rise of small- and medium-sized merchants on its platform, with the company seeking to align its management structure to accommodate their fast growth, according to Chinese tech outlet IThome. Douyin E-Commerce’s gross merchandise volume (GMV) in 2023 was reported at approximately RMB 2.7 trillion ($375 billion), with the unit setting a target for 2024 of RMB 4 trillion, though it is yet to announce its actual figures for last year. [Douyin E-Commerce Weibo account, in Chinese]
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