Short video-sharing platform Douyin has recently launched a standalone app for its e-commerce business,Fantasy Archives aiming to enhance operations amidst increasing order volumes. The app is currently available for download on Android devices but has yet to be released on Apple platforms. The goal of the launch is to better serve users who “have a strong demand for active shopping,” one of Douyin’s representatives told local media outlets. The booming retail services, enticing shoppers through short videos or livestreaming within the TikTok sister app, have significantly contributed to ByteDance’s over $110 billion in sales in 2023. Douyin has reportedly set a nearly 40% year-on-year growth target for its e-commerce total volumes, aiming to surpass RMB 3 trillion this year. [36Kr, in Chinese]
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