Following Double 11 2019, the last major shopping festival is Double 12. Alibaba’s Taobao of Double 12 will focus on live broadcasting; everyone is the host and everything can be broadcasted. Interesting content will become a huge highlight of Double 12 on Taobao.
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.
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.
The top growing mobile app saw the largest increase in monthly active users in Jun 2019. Time spent on short video apps continued fast growth. The most frequently used apps by the average number of daily opens are social networking apps and short video apps. The top growing mobile app categories in terms of monthly […]
Taobao 618 Livestream 618, usually from mid-May to 18 June, is China’s largest mid-year shopping festival. This year’s Tmall 618, there were hundreds of domestic and foreign brands whose sales exceeded last year’s Double 11, with the highest growth rate exceeding 40 times. Taobao/Tmall 618 Performance With over 200,000 brands taking part. Innovative marketing campaigns […]
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 […]
2018 marked the fourth wave of IPO fever with 42 companies going public. The overlapping users reached 137.87 million among Pinduoduo (272.6 million) and mobile Taobao (699 million). Short video (33.1%) and instant messenger (18.6%) took up over half of the increased usage duration. 2018 had seen 42 Chinese companies from a variety of verticals […]
Online shopping has become a lifestyle in China. Let’s take a look at the influence of China’s biggest shopping festival Double 11 in 2018 on the top e-commerce platforms. Mobile Taobao’s daily active users surged by 63.4% on the very day of Double 11. Tmall had the highest growth in daily active users during the pre-sale […]
In China, 71.7% of mobile devices had shopping apps installed. Mobile Taobao has the highest install penetration of 52.5%. The 7-day user retention of new users is 77.3% for Pinduoduo, 75.2% for Mogujie, and 75% for Tmall. Online shopping consumption accounts for 21.9% of total household expenditure. Mobile Shopping Market Overview The number of users who shop […]
Pinduoduo generated 471.6 billion yuan (US$268.6 billion) in GMV in the twelve-month period ended December 31, 2018, an increase of 234% year-on-year. This was driven by the rapid growth in the annual active buyer base and a near doubling in the annual spending per active buyer. Average monthly active users in the fourth quarter were 272.6 million, […]