Douyin E-Commerce: Merchants Topping 1 Million Yuan on Singles’ Day Day One Up 74% YoY

The headline growth rates describe first-time entrants crossing million-yuan thresholds, not the platform's total volume — a distinction that matters when reading Douyin's Singles' Day framing. The faster rise in livestream-store merchants above 10 million yuan suggests momentum is concentrating among larger sellers rather than spreading evenly across the long tail. Whether that concentration persists through the rest of the festival, and whether the new-creator cohort converts into repeat sellers, is the open question.