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Alibaba challenged as TikTok generation starts shopping on short video apps – Financial Times

Alibaba challenged as TikTok generation starts shopping on short video apps – Financial Times

With his sharp suits, oiled hair and slick sales patter, Dong Wenming sells gold necklaces and diamond rings to his 18m fans every day, straight through Douyin, China’s version of TikTok. Increasingly, Chinese users of the video app find live shopping broadcasts from internet celebrities such as Dong sandwiched between cat videos and new dance crazes — a version of television shopping for the mobile generation. Now the live-streaming shopping market, which was first pioneered by China’s online shopping giant Alibaba in 2016, is disrupting Alibaba’s main businesses, Taobao and the more upmarket Tianmao. The value of goods sold through livestreams will… 

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