Low-price tactics could be leading to Douyin E-commerce’s faltering GMV growth.
3 mins read
With GMV skyrocketing to USD 16.3 billion in 2023, TikTok Shop is shaking up Southeast Asia’s e-commerce market, giving Shopee and Lazada a run for their money.
Clear victories are rare when internet giants lock horns. Douyin and Meituan’s drawn-out fight in the city of Wenzhou illustrates how these battles can play out.