A Closer Look at the Characteristics of Pinduoduo Read Now . 62 people follow this. Pinduoduo reported its first quarterly profit since its IPO in 2018. Capturing a different market The boom in online grocery shopping in China is a marked change for a society where going to the local market is woven into the fabric of daily life for many households.
As a result, distribution costs for agricultural products typically account for 40% of the total cost (60% for fresh produce), compared with about 10% in developed economies. NEW PYMNTS STUDY: HOW LOCATION DATA CAN HELP BANKS PREVENT ONLINE FRAUD. Alibaba Rival Pinduoduo Says On Track To Double Online Grocery Sales This Year. Pinduoduo added that demand for online grocery shopping in China has surged since the COVID-19 lockdowns. Sensing a seismic shift in consumer preference, internet companies have poured resources into catering to this growing need. Based on your current location, we selected the North America edition of FreshPlaza.com for you, You are currently in the North America edition of FreshPlaza.com. The company plans to offer up to 25.3 million American depositary receipts, which would garner roughly $3.6 billion based on Monday’s closing stock price. Pinduoduo is an online shopping platform that gives users discounts for purchasing in groups. Other companies that have gone into the online grocery business include Alibaba, Meituan and Didi, the ride-hailing giant. Mobile shopping app market MAU totaled 1.02 billion in September 2020, up 4.7% YoY. With Duo Duo Maicai, consumers can place their orders before 11 pm each day and pick up their agriculture products the next day from 4 pm onwards at designated pick-up points. Pinduoduo has quickly risen to become the third-largest e-commerce player in China behind Alibaba and JD.com. Pinduoduo is an application for Android devices that offers us an online store with thousands of products which is aimed at satisfying the Chinese market. Duo Duo Maicai is available as a mini-program and on the main Pinduoduo app. Pinduoduo Inc. (Chinese: 拼多多; Pinyin: Pīn duōduō) is the largest interactive e-commerce platform in China and in the world. To improve the supply chain efficiency, Pinduoduo has invested in optimizing key areas including logistics, warehousing and delivery. 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It is one of the most popular online shopping sites for group shopping with 385.5 million monthly active users in China and it is called “Pinduoduo”(拼多多). A Quick Glance at Pinduoduo’s history and milestones Read Now . Pinduoduo also seeks to raise up to $2 billion from a convertible bond offering, according to the Financial Times. The study examined their willingness to share mobile location data with FIs to keep their accounts safe as well as their interest in switching to banks that leverage geolocation tools to prevent fraud. Founded by former Google employee Colin Huang, it's been China's third most popular shopping app since July 2017. Pinduoduo, China’s largest e-commerce platform for agricultural products, has expanded its online grocery ordering service to most provinces since introducing it in the cities of Wuhan and… Pinduoduo’s New Venture into Online Grocery Shopping in Quest to Expand Agriculture Share Categories: Industry Junjie Posted on November 13, 2020 November 13, 2020 Pinduoduo, China’s largest e-commerce platform for agricultural products, has announced its Q3 earning last night. Pinduoduo said it would use the money to finance growth, upgrade its shopping experience for users and offer more products. 61 people like this. FreshPlaza.com. China’s domestic rebound rate has accelerated over recent months, partially thanks to the growing trend of online shopping. Pinduoduo Content Team. But with an increasingly fast pace of life, especially in the bigger cities, more and more consumers are availing themselves of the option to buy their groceries online and picking them up the following day. The company said earlier this year that GMV from agriculture could surpass 1 trillion yuan in five years. Despite being one of China’s largest shopping platforms, Pinduoduo has yet to turn a profit. Despite being one of China’s largest shopping platforms, Pinduoduo has yet … It is also one of the world's largest internet companies. The online grocery market is projected to reach 7 trillion yuan in five years, the bank said. China’s agricultural supply chain is characterized by small farms, multiple distribution layers, and wastage at various stages. Pinduoduo beats revenue estimates as online shopping demand soars The platform has approximately 731 million annual users, compared with 757 million for Alibaba, China’s largest shopping platform, according to the FT. What Happened: Vice President David Liu, in an interview with CNBC, remarked that Pinduoduo's interactive online e-commerce platform not only offers the comfort of home-shopping … The November 2020 study How Location Data Can Help Banks Prevent Online Fraud, PYMNTS surveyed a balanced panel of 2,141 U.S. consumers who own mobile devices and use credit or debit cards at least monthly. Pinduoduo, China’s largest e-commerce platform for agricultural products, has expanded its online grocery ordering service to most provinces since introducing it in the cities of Wuhan and Nanchang in August. Investors erased $16 billion in market value from the Chinese company as orders on its e-commerce app disappointed. The COVID-19 pandemic and resulting lockdowns has sped up the pace of online migration of services, including e-commerce, across the world. Click here to receive this news directly in your inbox, Commercial Manager | Fresh Produce | Germany, Technical Manager - Fresno or Bakersfield (CA) USA, Head of Horticulture - Thuwal, Saudi Arabia, European Export Sales Manager (Asia Market), Electricians / Irrigation Technicians International Horticultural Projects (USA), Grimmway Farms sold to Indiana investment firm, "Onions are being sold for lower prices than they were bought for". Social shopping may seem like a new concept, but the reality is that in the physical world, shopping is meant to be “interactive and fun” and purchases are regularly informed by friends and family. The pandemic-related lockdowns forced many households to seek alternative ways to buy their food and essential supplies as brick-and-mortar shops were closed and movements severely restricted. 742 likes. October 22, 2020. You are receiving this pop-up because this is the first time you are visiting our site. Pinduoduo stock approached … The use of super apps as a means to access essential services has become more of a necessity in China. China's Pinduoduo Inc beat first-quarter revenue estimates on Friday as more people shopped on its e-commerce platform during coronavirus lockdowns that have shut most brick-and-mortar outlets. Pinduoduo is an online shopping platform that gives users discounts for purchasing in groups. Something went wrong with your message. Taobao remains the top mobile shopping platform in China in 2020 by total unique users across mobile apps and mini programs on WeChat, Baidu, and Alipay. In the fast-changing consumer and e-commerce industries in China, companies must stay nimble and cater to their users to survive. |
Taobao, Pinduoduo, and JD saw the largest increase in MAU in Sep: By usage time, Pinduoduo and Taobao are far ahead of JD with over 300 … HOW LOCATION DATA CAN HELP BANKS PREVENT ONLINE FRAUD, California Wants To Join DOJ's Google Antitrust Lawsuit, Senate Overhauls AML Laws, Strengthens Beneficial Ownership Disclosure, London Neobank Revolut Debuts Four New Cryptocurrencies, Indonesian Super App Gojek Closes $150M Funding Deal With NSP Telkomsel, Nearly One Quarter Of Walmart+ Users Are On A Free Trial. As most Chinese consumers tend to shop daily for groceries, online grocery shopping has become an increasingly attractive investment for internet companies in the region. Duo Duo Maicai, as the grocery feature is called, was introduced in response to the surging demand for buying groceries online following the onset of Covid-19 in the first quarter. Taobao pinduoduo alibaba onlineshop. Table of Contents . Aditya Raghunath, ... a self-pickup service for grocery shopping starting with … China’s third-largest e-commerce player, Pinduoduo, said its revenue rose during the third quarter by 89 percent to $2.1 billion, surpassing expectations. Comparing the shift in grocery shopping habits to the apparel industry five to seven years ago, Chen said: “No one could have imagined then that a significant number of consumers would use online shopping to choose, try out, and return clothes.”, “But that’s exactly what we are seeing today.”, For more information:Miranda ShekPinduoduo - International Corporate AffairsTel. 8/10 (35 votes) - Download Pinduoduo Android Free. “We believe that grocery shopping in China is undergoing similar structural changes in consumer behavior that we saw in other sectors a few years ago,” Chen Lei, Chief Executive Officer of Pinduoduo, said in the company’s post-results conference call on Thursday. But a China-based analyst told the Financial Times that while the Chinese were frequent shoppers of agricultural goods, which would help boost Pinduoduo’s user numbers, the business was low-margin. “We are seeing sustained consumer behavior post-pandemic and expect a further shifting from wet markets to structured retail, together with multiple models and build-out of cold-chain logistics to drive ongoing online share gains in” the fresh and FMCG categories, Goldman Sachs said in a report. The company has developed a nationwide and regional agricultural logistics system to cater to the different needs of consumers. Pinduoduo is an e-commerce platform allowing users to participate in group buying deals. Pinduoduo is the second most used online shopping app behind Taobao with over 385.5 million monthly active users. Pinduoduo (chinesisch: 拼 多多) ist eine E-Commerce-Plattform, über die Benutzer an Gruppenkäufen teilnehmen können. If you keep getting this message, please enable cookies in your browser. The company has garnered 731.3 million active buyers in the space of five years, an unprecedented feat for an e-commerce company. Shanghai-headquartered e-commerce company Pinduoduo Inc is anticipating its annual sales for grocery items to double year-over-year in 2020 on the back of increased domestic sales.. What Happened: Vice President David Liu, in an interview with CNBC, remarked that Pinduoduo's interactive online e-commerce platform not only offers the comfort of home-shopping but also gives users a … “The presumption that most consumers still prefer to go to the wet markets or supermarkets for their daily essentials has been challenged over the past few months.”. Last week, the company reported a third-quarter net loss of $115.6 million. The Indonesian government has launched a national online store on e-commerce platform Pinduoduo (NASDAQ: PDD) on Saturday in a move to boost its trade with China, about two months after the platform announced that its users reached 683 million, accounting for about half of the country’s population.The Consul General of the Republic of Indonesia in Shanghai, Deny W. Kurnia, … The transaction represented about 2.8 percent of the Shanghai-based technology company’s total outstanding shares. “We all say that Pinduoduo sells low-priced apples,” said one investor in the company. SHANGHAI (IT-Times) - Der chinesische Online Group Discounter Pinduoduo hat seine Zahlen für das vierte Quartal und Geschäftsjahr 2019 bekannt gegeben und ein … Get our hottest stories delivered to your inbox. The company also benefits from a secular trend, namely the shift of consumers from conventional shopping to online shopping. Container shortages on the market, how does this happen? Es wurde im September 2015 von Colin Huang unter dem Namen Shanghai Dream Information Technology gegründet. Product/Service . LogisticsTo ensure that supply can keep up with this increased online demand requires a sophisticated supply chain. By 2025, nearly half of China’s grocery shopping is expected to take place online, up from 20% currently, according to Goldman Sachs. Maybe it was seen as spam, please browse some more articles on our site before trying again. But the two giants are now looking to fend off the challenge from PDD. About us Pinduoduo is an innovative and fast growing technology platform that provides buyers with value-for-money merchandise and a fun and interactive shopping experience. Similarly, late last year around the time of China’s “Double Eleven” online shopping extravaganza, several brands including household appliance maker Dyson put out statements saying they had not authorized Pinduoduo to sell their merchandise. Pinduoduo found room in e-commerce, not as a competitor to search-based websites like JD, but as a new e-commerce platform focused on interactive and social shopping experiences online. Please click one of the other regions below to switch to another edition. In a statement released on Tuesday (Nov. 16), Pinduoduo said it will use the money “to invest in agricultural logistics infrastructure and responsive manufacturing as consumer behavioral changes accelerate the online migration of retail.”. Pinduoduo. Pinduoduo benefits from the strong growth of the Chinese economy, whose GDP has grown more than 6% per year for more than a decade. Pinduoduo’s current service connects merchants to buyers. Sign up for our daily Newsletter and stay up to date with all the latest news! Pinduoduo gets stung by its own shopping hype. But even after the coronavirus was brought under control and restrictions were lifted, a survey by GlobalData found that 56% of Chinese consumers were buying food and groceries online more frequently than before the lockdowns. Receive the daily newsletter in your email for free | Click here, << Back
Pinduoduo is the IBD Stock Of The Day, a unique Chinese e-commerce company that combines social networking with group shopping. In March, Pinduoduo said it raised $1.1 billion from newly issued Class A shares in a private placement. Chinese eCommerce platform Pinduoduo plans to raise up to $5.6 billion to invest in its one-day delivery service of farm goods across China, among other projects. Pinduoduo has greatly rewarded its shareholders since its IPO, in mid-2018. China's Pinduoduo Inc beat first-quarter revenue estimates on Friday, as more people shopped at its e-commerce platform during coronavirus lockdowns that shut down most brick-and-mortar shops. Pinduoduo is an e-commerce platform but its not just any other platform. Pinduoduo beats revenue estimates as online shopping demand soars. : +86 180 8722 9088E-mail: miranda.shek@pinduoduo-global.com, Publication date:
It is the second-largest online marketplace in China by number of users and number of orders. Fri 13 Nov 2020. We require you to complete all the text fields marked with *. Online grocery shopping has likewise seen a surge in demand in other countries since the pandemic, particularly in the U.S. Why online shopping will never be the same again after the pandemic ... Staff Writer. It offers a wide range of products from daily groceries to home appliances but with an unusual addition – The integration of social media. This trend of “planned consumption” is driving a surge in agricultural sales, which are estimated to double this year to at least 250 billion yuan in GMV on Pinduoduo. Zhao Yongdong, who became addicted to online games during the coronavirus lockdown, said he had transferred Rmb110,000 through Pinduoduo purchases, most during the first three months of the year. Sign up for the PYMNTS.com Newsletter to get updates on top stories and viral hits. 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