Lemon8's Rapid Expansion Continues Despite TikTok Ban Concerns

Key Takeaways:

• Lemon8, ByteDance's social media and lifestyle app, has rapidly grown in popularity since its US launch in Feb'23. Within four months of its debut, Lemon8 quickly climbed the charts, becoming one of the most downloaded lifestyle apps on the Apple App Store, breaking into the top 20. The app maintained its momentum with a 23% QoQ rise in downloads in 3Q24, while its average MAUs in the US increased by 32% during the same period

• Lemon8 has made significant strides in competing with Xiaohongshu by expanding into international markets, reaching a cumulative total of 52mn global downloads by Sep'24 and surpassing Xiaohongshu's downloads in the US market within just seven months of its launch. Additionally, its average MAUs in the first three quarters of 2024 are approximately 1.4x higher than Xiaohongshu's

• Pinterest and Lemon8 cater predominantly to female audiences, according to ST Audience Insights, in the past 90 days, as 84% of Pinterest users and 94% of Lemon8 users are women, making these platforms valuable for brands targeting women

  • In the first three quarters of 2024, major retailers like Amazon, Target, and Kohl’s heavily invested in Pinterest for their beauty ads. Amazon dedicated 88% of its beauty advertising budget to the platform, while Target and Kohl's allocated more than half of their social ad spending to it

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