Music contest Praise the Program was co-developed by Douyin and Zhejiang Television.
- Douyin recently announced plans to help 100 new brands reach RMB 100 million ($15.7 million) in annual sales in the coming year.
- In 2022, the platform will focus on “interest-based e-commerce” that prioritizes high-quality content to motivate audience interest to shop based on specific interests.
- With China’s crackdown on content and celebrities showing no sign of stopping, a content-commerce strategy that Douyin seems to be adopting is hosting more long-form variety shows.
While its global counterpart TikTok gets much of the attention, the Chinese-language short video platform Douyin has become one of China’s most influential short video platforms since its launch in September 2016. The last two years have seen Douyin evolve far beyond its initial focus on seconds-long videos and venture into long-form films, e-commerce and social shopping, making the platform a key pathway to reach and sell to Chinese millennials and Gen Zers. (Offering, in the process, a sneak peek of what owner Bytedance could hope to do with TikTok in 2022 and 2023.)
One of Douyin’s defining attributes, which has powered continued growth since its launch, is a strong content-commerce strategy that offers lessons for any company eyeing the China market. Earlier this month, Douyin’s e-commerce department held a joint forum with the investment firm Source Code Capital — in which Bytedance founder and recently departed CEO, Zhang Yiming, is a Limited Partner — to discuss their new white paper on the growth of emerging brands on Douyin.
The white paper maps the growth trajectory of seven successful consumer brands on Douyin, detailing how they have benefited from Douyin’s promotion and sales channels, and pledges to assist 100 new brands to reach RMB 100 million ($15.7 million) in annual sales in the coming year. While the white paper has yet to be released online, the forum discussion clearly indicates that Douyin will rely more on content-commerce to boost its e-commerce segment. As Zhang Hao, service provider director of Douyin e-commerce, stated at the forum, Douyin will focus on “interest-based e-commerce (兴趣电商)” that prioritizes high-quality content to motivate audience interest to shop based on specific interests. Continue to read the full article here