Seems like Douyin will overtake alibaba revenue in a few...

Seems like Douyin will overtake alibaba revenue in a few years;

Based on the search results, here are the key points about Douyin's estimated GMV revenue for 2024:
1. Douyin E-commerce has set an ambitious GMV target of ¥4 trillion (approximately $560 billion USD) for 2024, which represents nearly a 50% increase from 2023.
2. For comparison, Douyin E-commerce's GMV in 2023 was approximately ¥2.7 trillion (about $378 billion USD). This figure includes contributions from "product cards" and is higher than the initially reported ¥2.2 trillion.
3. The 2024 target puts Douyin in direct competition with major e-commerce players: - Alibaba's 2023 GMV was ¥7.2 trillion - Pinduoduo's 2023 GMV was ¥4.05 trillion
4. To achieve this growth, Douyin is implementing several strategies: - Enhancing its low-price strategy - Testing an "automatic price adjustment" function - Introducing product labeling with price indicators - Launching a standalone app "Douyin Mall Edition" for a complete shopping experience
5. Douyin's large user base of about 800 million daily active users provides a strong foundation for potential e-commerce growth.This ambitious target demonstrates Douyin's commitment to significantly expanding its market share in China's competitive e-commerce landscape.Sources[1] Douyin E-commerce's Ambitious GMV Target for 2024 - Moomoo https://www.moomoo.com/community/feed/douyin-e-commerce-s-ambitious-gmv-target-for-2024-112512158400518[2] Douyin's GMV gets boost as platform doubles down on e-commerce https://daoinsights.com/news/douyins-gmv-gets-boost-as-platform-doubles-down-on-e-commerce/[3] China: GMV of leading cosmetics brands on Douyin 2024 - Statista https://www.statista.com/statistics/1361386/china-gmv-of-leading-cosmetics-brands-on-douyin/[4] TikTok's sister app Douyin says GMV for e-commerce business grew ... https://finance.yahoo.com/news/tiktoks-sister-app-douyin-says-093000785.html?guccounter=1[5] How Douyin, the Chinese TikTok, broke into e-commerce – Part 2 https://www.chinatalk.nl/how-the-chinese-tiktok-broke-into-the-e-commerce-part-2-becoming-an-e-com-powerhouse/