9/11/2023 0 Comments Pin duo duo market cap![]() The result was two-fold: a lot of consumers associate the platform with low quality and fake products. The result was Pin Duo Duo, an e-commerce platform focused on cheap goods even for China’s standards. Temu will need to prove that it has products unavailable on Amazon, that will be worth the longer waiting times to a consumer market no longer accustomed to waiting for anything.Colin Huang asked himself this question in 2015. Plus, Amazon’s tightening grip on e-commerce sales marks a continuation of the step-by-step market share advance Amazon has made over the past twenty years. This is due to the fact that items may be coming from another country or need to be bundled or packaged with other similar-sized items,” the website says on its shipping information page.īased on its relatively long shipping times, there is a significant pressure on Pinduoduo considering that Amazon offers same-day or next-day deliveries. “It’s important to keep in mind that you may see longer delivery times than you’re used to from other e-commerce websites. Pinduoduo’s Temu sells mostly products from overseas, and especially from China, which is why shipping to the US could take 7-15 business days. It will also need to build brand reputation against the likes of Amazon, which contributed to almost 60% of all e-commerce transactions in the US last year. Pinduoduo is one of the few Chinese companies that still has its shares traded on a public bourse in America.ĪMAZON Half of US warehouse injuries in 2021 was at Amazon - can automation help? Now that the US site has gone live, Pinduoduo will have to worry about the next, most significant hurdle - significantly higher regulatory pressures from the US authorities as well as the Chinese. Pinduoduo foreseeable challenges to crack into the US market According to industry intelligence outfit, EMarketer, the US-traded arm controls as much as 13% of the share of the Chinese online retail platform. When it comes to the US, Pinduoduo is not new to the local financial ecosystem as its shares are trading on the Nasdaq Global Select Market. It won over shoppers by creating a sort of WhatsApp-Groupon mashup, where consumers spot deals on products, like toys and fruits, and then recruit friends to buy at a discount. Despite its late arrival, PDD broke through in China’s highly competitive internet retail space by bringing in social e-commerce practices that have helped build an annual active user base of more than 880 million. Pinduoduo, a much younger company than Alibaba and JD.com, having only been founded in 2015, is behind its rivals when it comes to the overseas push. Most of China’s biggest technology companies, from Tencent to Pinduoduo’s e-commerce rivals Alibaba and JD.com, have continued pursuing international markets. Its intentions are to follow in the footsteps of successful international ventures like Shein and AliExpress, both of which are China-based. ![]() However, when Bloomberg first reported it last month, citing people knowledgeable on the matter, the Shanghai-based company was said to be looking for new growth avenues at a time when its domestic economy is sputtering. So far, the Tencent-backed company has not made any public announcement or comment on the launch of Temu. Strangely, Pinduoduo has kept its American expansion extremely low-profile. The website, which went online last Thursday, lists items across a number of categories including clothing, jewelry, pet supplies, and home and garden, signaling the Chinese giant’s attempt of perhaps replicating its disruptive success in the US.
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