TapTechNews September 28th news, "36Kr" reported on the 27th that the sales of Douyin Life Services from January to August were about 320 billion yuan ($45.8 billion), exceeding the total sales in 2023. It is understood that Douyin Life Services mainly includes on-site dining, on-site comprehensive and wine and travel businesses.
The report mentioned that after Pu Yanzi, the head of commercialization of the Douyin Group, took office in November last year, she set a sales target of 600 billion yuan ($85.8 billion) in 2024 for the life service business, an increase of nearly 100%. In contrast, the sales of Meituan's on-site store in 2023 is 700 billion yuan ($100 billion), and this year's goal is to exceed one trillion yuan ($143 billion), achieving about 50% growth.
After taking office, Pu Yanzi changed the industrial division originally based on on-site dining, on-site wine and travel, and on-site comprehensive to the regional division of South China, North China, and Central China, as well as the national large-chain merchant department with greater influence. In order to focus on the on-site business, Douyin takeout was transferred from the original local life business to Douyin E-commerce in April this year. But four months later, the Douyin takeout business returned to Douyin Life Services.
According to TapTechNews' previous report, Douyin officially released an announcement in June, announcing that its "group purchase delivery" (commonly known as "Douyin takeout") business will usher in major adjustments and will be fully migrated to the new Dou Store home takeout platform, and no new merchants will be added.
The sales of Douyin Life Services in the first quarter were less than 100 billion yuan, about 110 billion yuan in the second quarter, and the sequential increase was only about 10%; but benefited from the summer vacation peak season, the sales in July and August were almost the same as those in the second quarter. In addition, Douyin Life Services has achieved profitability (the free traffic provided by Douyin for this business is not included in the cost).