Douyin e-commerce launches low-price strategy, with target transaction volume exceeding 3 trillion yuan in 2024

Douyin E-Commerce has announced a bold new strategy for 2024, prioritizing “price power” as its core focus. The Chinese e-commerce platform, which has seen significant growth in recent years, is positioning itself to directly compete with established giants like Pinduoduo, Alibaba, and JD.com. With this shift, Douyin E-Commerce plans to place even greater emphasis on low-priced products, aiming to attract price-sensitive consumers and boost overall market share.

Douyin’s Low-Price Strategy: A Game-Changer in E-Commerce

Douyin will expand its low-price strategy across different parts of its platform, including content, short videos, and live broadcasts. It will recommend affordable products in its mall and short video sections while focusing on higher-priced branded goods in live streams. This move will position Douyin as the go-to platform for consumers looking for high-quality, budget-friendly products.

By emphasizing low prices, Douyin hopes to draw in a broad range of consumers. The goal is to offer a seamless shopping experience where users can easily find great deals. This strategy should increase user engagement and loyalty, allowing Douyin to compete with major e-commerce players.

Douyin E-Commerce’s GMV Target for 2024

Douyin has set an ambitious GMV target of 3 trillion yuan for 2024. This target represents a 36% increase over the 2.2 trillion yuan GMV of 2023. Douyin’s goal is to outpace the overall market growth, showing strong confidence in its strategy.

To meet this goal, Douyin will need to increase its transaction volume and improve the user experience. By enhancing personalized shopping and blending entertainment with e-commerce, Douyin aims to grow rapidly and solidify its position in the market.

Impact on the E-Commerce Industry

Douyin’s focus on low-price products will likely shake up the e-commerce industry. The platform aims to attract price-conscious consumers, increasing retention rates. Douyin’s emphasis on content-based shopping will also create a more engaging and personalized experience, improving overall customer satisfaction.

This combination of low prices and tailored content will lead to more user activity and loyalty. Douyin’s strategy sets it up for continued growth and success in the competitive e-commerce market.