Without providing a particular figure, Tencent stated that the GMV of WeChat Channels increased 15-fold in 2021 compared to the previous year. The potential to commercialize has been granted to the short video platform as a result of its massive user base, and live e-commerce has become the most desired alternative. The DAU figure of WeChat Channels is astounding considering that Kuaishou, the second-biggest short video/live broadcast platform in China, has an average DAU base of 323.3 million while Douyin, the largest, has an average DAU base of 600 million. By 2022, it is anticipated that the number of daily active users will reach 600 million. The short video service had 500 million daily active users (DAUs) in 2021, a 79% increase over the previous year, and per capita use time topped 35 minutes, an 84% increase over 2020. With WeChat serving as the gateway, "WeChat Channels", which is just three years old, has expanded swiftly. The platform, much like its competitors, Douyin and Kuaishou, enables users to upload short films or live streams, but it has an unrivaled advantage since it is embedded in WeChat, China's ubiquitous app with 1.2 billion monthly active users. In response to the increasing popularity of domestic short video platforms, social media behemoth Tencent debuted "WeChat Channels" in 2020. The debut of the new service is designed to replace the previous online store based on WeChat, the instant messaging tool, making sellers more dependent on “WeChat Channels," which features short videos and live streaming. Douyin is the sister app of TikTok in China. The "WeChat Channels Store'' was released by Tencent on July 21, further challenging Douyin's live streaming e-commerce business. Live e-commerce has been around for a long time in China, but its huge success is still tempting newcomers to join and raise their wagers. Without giving a specific number, Tencent said the GMV of WeChat Channels surged by 15 times in 2021 compared to 2020. Tencent accelerates the development of its one-stop live shopping platform, will it be able to compete with Douyin? Tencent accelerates the development of its one-stop live shopping platform, will it be able to compete with Douyin? - PingWest English 中文
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