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Watch out, Alibaba. Chinese video apps are quickly becoming e-commerce players too – CNBC

Watch out, Alibaba. Chinese video apps are quickly becoming e-commerce players too – CNBC

A man holding a phone walks past a sign of Chinese company ByteDance’s app TikTok, known locally as Douyin, at the International Artificial Products Expo in Hangzhou, Zhejiang province, China October 18, 2019.ReutersBEIJING — Chinese consumers are shopping more through livestreaming and video apps — a new trend that’s grabbing a slice of the massive market traditionally dominated by e-commerce giant Alibaba.Popular livestreaming and short video apps became significant marketing channels in 2020, generating billions in merchant sales by connecting viewers to existing e-commerce sites, or their own.Just take the example of short video and livestreaming app Kuaishou, which on Friday raised… 

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