This is the third part of a three-part series on e-commerce companies’ exploration and collaboration with the manufacturing industry. Read part 1 here and part 2 here. You can download the full eBook here. Compared with manufacturing, China’s internet companies know more about how to interact with consumers. E-commerce factories is an attempt to promote manufacturing […]
Pinduoduo: Statistics & Insights
Pinduoduo, founded in September 2015, runs one of the top mobile shopping app. By launching a group purchase with friends, family, neighbors, etc., the user buys the product at a lower price.
Pinduoduo business model replies on social e-commerce and is designed to unite more people, buy better things at lower prices, and experience more benefits and fun.
Within three years of its founding, Pinduoduo has attracted over 300 million active buyers and over 1 million merchants through a new shopping format and experience.
China’s social e-commerce platform Pinduoduo updated its IPO prospectus previously filed with US Securities and Exchange Commission (SEC) on July 17, 2018. Read details on Pinduoduo IPO here.
How Pinduoduo works
Pinduoduo works on a social e-commerce model. By launching a group purchase with friends and family (often shared in social media like QQ and WeChat Moments)., the user buys the product at a lower price.
Pinduoduo leverages a platform and an ecosystem comprised of hundreds of millions of users, merchants, platform management personnel/operators and platform infrastructure/service providers; while each player is interdependent with one another, all of them evolve and improve as they constantly try to balance cost-effectiveness, efficiency, user experience and satisfaction.
In the past three years, Pinduoduo has established and promoted a new e-commerce concept and experience of “team purchase” (or “pin”).
Huang Zheng is the founder and CEO of Pinduoduo, who graduated from Zhejiang University and got a master’s degree in computer science from the University of Wisconsin. He was also an ex-Google engineer and an ambitious entrepreneur.
Download Dossier: Pinduoduo statistics.
This is the second part of a three-part series on e-commerce companies’ exploration and collaboration with the manufacturing industry. Read part 1 here. You can download the full eBook here. E-commerce giants are speeding up their deployment of factories. C2M, or customer to the manufacturer, is the direct connection between the customer and the manufacturing […]
This is the first part of a three-part series on e-commerce companies’ exploration and collaboration with the manufacturing industry. You can download the full eBook here. E-commerce factory is the collaboration of the manufacturing industry and the internet. Under the circumstances of retail sector being depressed while the traffic of e-commerce reaching the peak, the […]
China’s online shopping users reached 370 million on desktop and over 1 billion unique mobile devices in September 2019. They use an average of 2.22 mobile apps and 6.3 hours on shopping. Missfresh beats Alibaba’s HemaFresh by total users in tier-1 cities. Also, check out the top mobile shopping apps by growth and total MAU. […]
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Pinduoduo’s 12-month GMV ended September 30, 2019 was RMB840.2 billion (US$2,117.5 billion), an increase of 144% YoY. Its total revenues in Q3 2019 were RMB7,513.9 million (US$1,051.2 million), an increase of 123% YoY.
In addition to Tencent’s WeChat, Baidu, and Ant Financial’s Alipay, many other large Chinese Internet companies have been taking actions in building their mini-program ecosystems. QQ (Tencent) introduced the “One-click Comment” function and managed to explored new sources of traffic. Alipay introduced the “Comment after Payment” function. WeChat (Tencent) introduced the Notification Subscription and Industry […]
Social e-commerce is a segment that involves utilizing communication channels such as social networking websites, SNS, WeChat, Weibo, social media as well as the social interaction, user-generated content and other measures to facilitate the purchase and sales of products. Social networking elements as “like”, sharing, connection, discussion, interaction, and others are applied to the process […]
China e-commerce platform Pinduoduo reported total revenues in the second quarter of RMB7,290.0 million (US$1,061.9 million), an increase of 169% from RMB2,709.0 million in Q2 2018 according to its official announced financial results.
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Many Chinese consumers have the impression that most users of Pinduoduo are housewives, middle-aged, or elderly people who live in third-tier or fourth-tier cities. They are highly consistent with users of Kuaishou and have extraordinary sensitivity to low price. They are more willing to ask people for help bargaining in WeChat group in order to […]
Market penetration of comprehensive e-commerce mobile apps in China increased steadily to 67.3% in December 2018. Mobile Taobao led this market with a penetration of 53.1%, followed by Pinduoduo (29.3%) and JD (24.2%). Market penetration of comprehensive e-commerce reached 67.3%, an increase of 11.1% year-on-year. Its average DAU was 240 million in December, a net […]
Pinduoduo’s GMV in the twelve-month period ended March 31, 2019 was RMB557.4 billion (US$2 83.1 billion), an increase of 181% from RMB 198.7 billion in the twelve-month period ended March 31, 2018 according to its unaudited financial results.
The total spending of the fast-moving consumer goods (FMCG) recorded moderate value growth of 2.4% in the 12 weeks ending March 22, 2019, compared to the same period in 2018, according to Kantar Worldpanel China. Non-food, especially personal care categories, maintained a robust growth while the food and beverage sector showed a weaker performance of […]