"Improving domestic ecommerce market share should lead to better monetization eventually," Yao said.
The investment firm expects Douyin to match PDD's market share of 21% next year, and surpass it by reaching 22% in 2026.
Tencent's WeChat Video Account platform is expected to retain about 2% to 3% of GMV market share through 2026, the Goldman analysis said.
The video streaming platform last month reported e-commerce GMV grew by 28.2% year-on-year in the first quarter to 288.1 billion yuan ($40,55 billion).
The firm forecasts Kuaishou's e-commerce GMV revenue will grow by 25% this year, although livestreaming revenue — which has accounted for about a third of total revenue — is expected to drop due to a high base.
Persons:
James Yang, Bain, Joe Tsai, Emily Tan, Yang, Alibaba, Goldman Sachs, Ronald Keung, David Ma, China's, Morgan Stanley, Eddy Wang, Kenneth Fong, JD, David Beckham, Alex Yao, monetization, Yao, Tmall's GMV, Douyin, Alibaba's, Tencent's, Goldman, Sophie Huang, — CNBC's Michael Bloom
Organizations:
Bain and Company, PDD Holdings, Goldman, UBS, JPMorgan China, ByteDance, Hong
Locations:
China, Hong Kong, Asia, U.S, Alibaba, 2Q24, 2Q24E