On March 17, Pinduoduo released its 2020 fourth quarter and full year financial reports. As of the end of 2020, Pinduoduo had 788.4 million active buyers for many years. The platform added 57.1 million active buyers in the fourth quarter, and the cumulative number of new active buyers last year exceeded 200 million.
As previously expected by the market, Pinduoduo will become the largest e-commerce platform in China by the end of 2020. During the same period, the number of active buyers on Alibaba was 779 million and that of JD.com was 472 million.

It just happened that I just discussed Ali with my friend yesterday, so let’s just say a few words. Although active buyers surpass Ali, Pinduoduo currently has a lot of gaps in GMV compared to Ali. From this point of view, the so-called “Pinduoduo surpasses Ali to become the largest e-commerce platform in China”, there is a certain discount on the gold content. Personally, I have been more confident in Ali for a long time in the past. Even if I know that Pinduoduo and small and medium-sized merchants abandoned by Ali’s strategy have achieved great success in the sinking market with extremely low customer acquisition cost fission, I still think that Pinduoduo will eventually dominate in the subdivision field. May shake the status of Ali e-commerce supremacy. After all, the Internet winner takes all, and the advantages of platform companies are very difficult to shake. What’s more, Alibaba still has many advantages, and Alibaba Cloud is developing rapidly. However, the changes in the industry from the second half of 2019 to the first half of 2020 have completely shaken my mind. In the Southeast Asian market, Lazada, invested and controlled by Alibaba, was fully overtaken by shopee invested by Tencent. You know, Southeast Asia is a battleground for Chinese Internet giants to go to sea, and the development of lazada is definitely one of Ali’s strategic priorities. As a result, in the field of e-commerce where Ali started, and with the double advantage of first-hand advantage, lazada was overtaken by shopee so quickly. To be honest, I was shocked at the time. Later, I checked the relevant information, and what lazada and shopee did was simply a copy of eBay’s defeat by Taobao. The flexible response and aggressiveness of the founder team, together with the localized operating model, was the magic weapon for Taobao to get started, but it is now being used by shopee to attack Ali. Conversely, a series of mistakes made by Lazada are really too similar to eBay back then. This is simply reincarnation. I really didn’t expect that the influence of corporate culture and values ​​is so great, and the disease of large enterprises is so difficult to cure. More importantly, when facing Pinduoduo’s aggressive offensive in China, Ali also showed a faltering and slow response. This inevitably makes people think that what happened in Southeast Asia is just a domestic rehearsal? In the judgment of Ali’s future, shopee’s personal influence on me is greater and greater than that of antitrust and Ant Financial. Therefore, even if Ali’s stock price and valuation fell, I did not dare to start. But to be honest, I still don’t understand how far Pinduoduo can go and whether it can completely subvert Ali’s e-commerce dominance. Although Ali’s corporate culture and values ​​have limitations, there are also hidden worries behind Pinduoduo’s hard work. Especially the founder Huang Zheng retired. The optimistic people think that if you step outside, you can see a bigger sky. The declining people think that without the founder’s keen insight, the big ship of Pinduoduo may lose its direction. I’m not sure about the future, so let’s see.


By zhiwo

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8 months ago

I have doubts about these data, or I think that many of this number of active buyers are not loyal users of Pinduoduo. There are too many people who are using Pinduoduo for helping people cut a knife and helping people download it. Individuals often receive private messages asking me to help cut or help, but there are not many people who really get things for free. Sometimes you have cut to 0 yuan, and there will be a situation where you only draw a lottery from the people who have been cut. The problem is that the starting rules of your platform don’t say that. Last time I was at station B and found a person who asked more than 2,400 people to help but not cut the situation. The official explanation was also ambiguous. It does not deny that Pinduoduo has brought convenience to many people, especially those in the fourth and fifth tiers, including those in remote areas. There are also many people who have gained wool through Pinduoduo activities. But I don’t like his fission propagation mode very much, very much. In addition, the quality control of Pinduoduo’s products is really poor. I hope that one day our country will develop and more people will be able to use products of at least qualified quality. Pinduoduo has a reason for its existence at the moment, but if it does not transform, I will not respect this company.

8 months ago

I don’t know what it means. I only know that no matter how many answers below say, how many praises and a lot of praises, I just think it is disgusting to bargain, and I get it for free after 99.8%! Pulling people are disgusting, cut a knife for me, help me click. I just don’t want to use it, and I won’t use it in the future. In fact, many people may just hate monopoly. If Pinduoduo kills other e-commerce companies and becomes a dominant one, when another e-commerce company slowly rises, everyone will applaud it, just like right now. excuse me

8 months ago

Ali’s situation looks like the United States now. Although he is the boss, the situation is deteriorating. As we all know, Ali’s c2c platform is Taobao, b2c is Tmall, and although Pinduoduo does not deliberately distinguish between c2c and b2c, it is also the same for JD. The only difference is that JD has self-operated. If there is no self-operated, it is essentially the same There is no difference between the first two. JD’s self-employment is aimed at users who pursue quality consumption. Most of these users are white-collar workers in first- and second-tier cities, middle-class families, or users who expect higher-quality products and after-sales services. Pinduoduo’s users are mostly users in third- and fourth-tier cities, and rural and township users. The products they buy often pursue cost-effectiveness, or low-cost products. The positioning of the two is very clear, and the corresponding service objects are charged corresponding fees, so the price of JD’s self-operated is relatively high. Before the emergence of Pinduoduo, his user group was Taobao. Now it can be said that the vast majority of users have switched to Pinduoduo and have formed an accumulation. So which part of users should Taobao Tmall capture? This is a question. . Compared with Pinduoduo, it is not as cheap as Pinduoduo, and it does not have such high service quality (logistics, after-sales, etc.) compared with JD’s self-operating. The users who can stay on Taobao and Tmall are basically based on the users’ personal habits. Once transformed, where is the advantage of Taobao and Tmall, where is the core competitiveness, whether to grab users upwards with JD, or downwards and Pinduoduo to grab users, or to develop at the same time, I think this is an issue that Ali needs to consider urgently.

8 months ago

In the past two years, Pinduoduo has let me know that there are still such foolish show operations that make you think you are taking advantage. I won’t talk about the normal bargaining operations, but I’ll talk about something else. Have you seen the 9.9 yuan iPhone12 ad? Advertise on countless platforms, and in the end there is only one for you to grab. Yes, countless people grabbed a mobile phone. You thought it was a lottery. The actual situation is that the price of an iPhone 12 has attracted countless traffic to the entire platform. It is a clever ghost to think of such a cheap advertising operation. . Pinduoduo points to the turntable to get red envelopes, and always switch to 100% full reduction. Do you think you are so lucky? and then? Think you can get a red envelope of 30 yuan when you buy something over 30? Too young, it takes 6 days to return, 5 yuan red envelope every day, and each coupon must be more than 30 yuan to use, and even restrict the use of goods on the specified page. You think it’s cheaper, but think about how many copies of unnecessary things you bought for coupons? After a long time without using Pinduoduo, he returned. I opened the homepage and a big return showed that the reward coupon was 30 yuan. I took a look at the good guys. There are 30 coupons for 1 yuan. Only one coupon can be used for a single order. Those who can think of this reward are also individual talents. Reward red envelopes shake red envelopes, the first time is 40+ yuan, there are a few cents or even a few cents at the back, the cash is over 50, and it is cleared on Sunday. Victory or defeat is commonplace for soldiers, so please start over again next week. Later, there is no limit of 50, and you can withdraw cash every week. There are several options: 0-5 yuan, 20 yuan, and 50 yuan, each of which can only be withdrawn once a week. And 0-5 yuan random withdrawal, although it shows 0-5 yuan, it is actually only a few cents, and can only be withdrawn once a week, and cleared on Sundays. How to withdraw other amounts? I’m sorry you didn’t make it together in a week. Please start all over again next week, and be grateful if you give you a few cents a week. Pinduoduo is really well versed in the mentality of people greedy for small and cheap. For traffic, I used all the means I could not think of.

8 months ago

Non-e-commerce, Internet industry, just users who like to chop their hands. I was shocked to see the news. I did not expect that the number of users would surpass Ali. Taobao hasn’t been able to sink for so many years. It took a few years to get it done, and it really benefits. Human-to-human transmission is the last word… But when I see this news, I feel that JD.com is the one who panics the most. Of course, it may not be. After all, who remembers Suning and even Gome. I remembered that my colleague had done an e-commerce Three Kingdoms Kill. I checked the saying that started in 2012. Alas, the wheels and tears of the times.

8 months ago

Pinduoduo once again proved a truth of business, cheap is the last word. Don’t talk about vain feelings. Don’t talk about high-end and low-end brands. Don’t talk about the god of management, the saint of management. The user only cares that the merchant can provide what I want at the cheapest price. How to get merchants to provide cheap things. One, competition, two, transparent information, and three, consumers protect weak and small competitors and resist monopolizing the small. In a word, the truth of business is cheap. It’s simple, but it’s not easy for a merchant to make your stuff cheaper than others. He needs to do a lot of innovation, for example, efficiency innovation, Ford invented the assembly line. For example, to reduce costs and expenses, Wal-Mart leases suburban land to optimize logistics and freight systems. For example, to optimize channels, what Xiaomi does is to use online channels to optimize the previous offline agency channels, and there are also Dell direct telephone sales channels. For example, technological innovation reduces product costs. Businesses are struggling to improve efficiency and reduce costs in order to be cheaper and more competitive than other businesses. How does Pinduoduo make it cheaper? 1- He just pays less commissions to merchants, exploits other platforms as hard as possible, and attracts merchants to turn their backs. 2-Now China’s light industry has too developed productivity, severe overcapacity, and too fierce competition among businesses. In order not to be eliminated, they have to do at a loss. If they want to survive the death of others, they will increase prices and delay making money (this is not the low price and poor quality that the message said. The cheap products of China’s light industry are the result of overcapacity and fierce competition. In the current information society, real products with poor quality cannot survive and are eliminated early) 3-Pinduoduo is also delaying its desire to make money, but now it does not want to get from a business. Users want to make money and just want to do a large-scale first, to be the industry leader. JD.com, look at how many years you have lost, and then look at how much you earn now. How will he make money after he does it? That would force the netizens to think for themselves. 4-Pingduoduo is actually channel optimization. There is not much innovation. Taobao did it before and Jingdong did it, but his micromanagement is very good. Haha. For online channels, the cost of labor and server is the only small platform overhead. The most expensive cost now is traffic, but Tencent invested in him in the early stage and gave him very valuable and cheap traffic, which helped him get up. What some people say, everyone is poor, so they buy bargains (in fact, the rich are also greedy for cheap and cost-effective), so fight for more and more. This is a typical case of being brainwashed by consumerism, an industrialized surplus commodity, and the pricey ones are also bought with a sense of superiority. His success is based on China’s strong production capacity, that is, the entire society has overcapacity. Excess products are piled up in warehouses, and for merchants, it is garbage negative equity. Pinduoduoyou just gave them a clearing platform.

8 months ago

After Taobao took the top spot in e-commerce, it began to play evil, raising the barriers of entry for sellers, and then began to squeeze the seller’s wool. The cost of opening a store for sellers has risen sharply, but the wool ends up on the sheep, and finally passed on to the consumers through the price. Why did Taobao rise back then? Isn’t it that online shopping is cheaper than physical stores? Now that Taobao is not cheap anymore, consumers will naturally use their feet to talk. Now small things under one hundred yuan, Pinduoduo is much cheaper than Taobao. Moreover, Pinduoduo had some irregularities in the early days, and now it is no worse than your Taobao in all aspects. Once there was a deviation when buying something. After contacting Pinduoduo’s customer service, they gave a refund as soon as possible. The refund was paid by the platform, and the service attitude was much better than Taobao. Many businesses have even closed their Taobao stores and went to Pinduoduo. Boss Ma is already floating now, and he has forgotten his roots a long time ago. By the way, why Taobao made the virtue of today has something to do with Ali’s internal culture. Various evaluation KPIs, the operation department of the platform can only desperately squeeze the business in order to make the performance look good.

8 months ago

Pinduoduo was fooled by the number of users. But any red envelope activity will slaughter your circle of friends, and then it may not be given to you. 9 yuan and 9 free shipping electric car, is your heart beating, you are right, but you can guess it? Cheap is the last word, relying on this Pdd has indeed consolidated a group of core users, more of them are like me, forcibly being pulled in and disgusting. By the way, I have never participated in the various red envelope activities of Pinduoduo. Because I know it must be a routine, besides, although I have few friends, the price is not cheap. In this way, still can’t escape being disgusted.

8 months ago

Not surprising. When Ali started as Tmall, it was precisely to give up the sinking market of hundreds of millions of people. Jack Ma actively promoted high-premium brand stores to the public, and a wave of consumer upgrades was triggered by a wave of palms. The GMV and profits brought by the large Tmall brand stores to Ali are considerable, which eventually forced Taobao to tilt its traffic to Tmall. Many small Taobao stores have faded out of traffic and their marketing expenses completely cannot compete with the large stores, so they have to shut down silently. Either it will switch to Fighting Duoduo, and eventually, the phenomenon of Pingduoduo’s affordable and small commodities will flourish. Alibaba and JD.com have a lot of things that are overpriced. They directly support the super data of Tmall and JD.com on Double Eleven. It is true that not everyone consumes high-end luxury goods such as Dyson, iPhone, and Aquamarine Mystery, but they can be seen every day. Except for the iPhone, a product with high frequency of use and strong feedback, there are many things that the public does not need to buy so expensive, as long as they can be used, and the experience is not much worse. In the past few years, Tmall and JD.com used price discrimination to block some affordable products from users, and forced you and me to upgrade your consumption. After all, they carry KPIs. In order to cope with the growing trend of Pinduoduo, they have only lowered the prices of some commodities in the past two years. The price of Pinduoduo is indeed more close to the people, and it can convert users of all classes, even those friends with tens of millions of billions of assets, will say something really fragrant. The sinking market is the most sensitive. It is easy to identify how much cheaper it is. Sooner or later Taobao will be surpassed. If someone wants to talk about counterfeit goods. I lived in my thirties to understand that counterfeit and inferior products are not completely unprofitable. Take Jingdong, which I used to like to use as an example. When JD.com was scolded for second-hand fake goods, the price was not too expensive. In order to wash away the negative public opinion, Liu Qiangdong had to use JD’s self-operated operation to make the brand sound. He built urban warehouses and pre-warehouses on his own, providing fast speed. The incomparable distribution service has also screened out some of the fakes, which undoubtedly pushed up the operating cost. The wool is on the sheep, and JD.com also abandoned the sinking market and achieved a successful transformation. People appreciate this very much, but even many of the urban residents can’t afford JD.com and only choose it when buying large and urgent items. So JD’s monthly active users are 400 million. But are counterfeit, shoddy, and affordable products with mediocre design power worthless? I don’t think they are. Those who look down on spicy chicken products cannot fully understand the needs of users in the sinking market mentally. For example, some of the behaviors and thoughts of his poor relatives usually find it inexplicable. As for the savings. In any era, it is the wealthy families and the well-off class who can speak up. For example, it wasn’t until last year that everyone knew that many women were using bulk toilets. They couldn’t use abc and 7-degree space, and even if they only spent tens of dollars a month, some girls’ rights advocates initiated assistance activities. How many years has this situation lasted? The answer is a long, long time, and the majority are silent. To completely ban these bulk sanitary napkins will hurt the freedom and rights of many people. Do you think that Pinduoduo, who has been spurned by all kinds of Zhihu big V, has not provided a little convenience for the people at the bottom? Most people’s thinking is limited to what they can see. Let’s take the pirated books that have recently made a lot of noise. This is also a common phenomenon on Taobao and Jingdong. In the past two years, everyone has only cursed Pinduoduo, and the magical thing is that curse Pinduoduo will have traffic. Since 2018, the average price of genuine books has reached 68.5 yuan. The leaders or editors of publishing houses such as CITIC and Dangdang told me that the prices of good coated paper have been increasing, and they have no choice. Although many people criticize Pinduoduo and Taobao for selling pirated books, I feel that some young people also need these channels. For example, when I was in school, I only had more than 1,000 yuan a month, which is not enough to spend…the source of pirated books is the printing factory. Generally, they sell some overprinted genuine books, or fake a version and b version. There are also many pirated books that even publishers order themselves. They use almost paper to avoid royalties and make money in a different way. ​​​Generally, sellers can earn 3-10 yuan more for pirated books, but buyers can earn 5-30 yuan. Both supply and demand have benefits, which has led to repeated prohibitions on various platforms such as Taojing Pindang and will never be able to eliminate the source. Legally and morally, buying pirated books is a bad behavior. It is recommended that anyone insist on buying genuine copies after they have the financial means. I cannot blame them for young people and poor people who cannot afford to consume genuine copies. I still love to read when I am down, so I have no right to blame. Therefore, I don’t think it’s wrong to tolerate certain fakes on the platform. Taobao and Jingdong regret their fame. One is that the plates are too big and the overall reputation needs to be taken into account, but they have abandoned the people who are sinking the market from the price and tried their best to grab gmv. The other is that the people who were beaten up in the public opinion war that year can only be purified to become a high-end platform, and the experience is good and the price is no longer close to the people. In my opinion, both are behemoths that have promoted consumption upgrades. And I don’t want to be upgraded. Everyone knows that the tens of billions of subsidies are super fragrant, they are all authentic, and the price is very cheap. Not to mention the fruit department stores. The whole network knows that it is very affordable. It is not as bad as many people think, otherwise the plates are also good. It would not be so big. This screaming thief multi-product is really fragrant, and it is a place I can pick at any price anyway. So I became one of the 780 million buyers. The above are my superficial views.

8 months ago

I often buy things, but I have never used Pinduoduo, because I am very disgusted (to put it nicely) this kind of general promotion and drainage model of MLM. Therefore, many friends also asked me to help bargain. Many of them didn’t see it because they had no choice but to help cut once. But once, I knew that I had contributed to Pinduoduo and my data had already been contributed. But in terms of future prospects, I think Pinduoduo is better for development. Any enterprise, as long as it makes money, it has the money to launder itself and go to play Yangchun Baixue. I don’t know if anyone remembers it. When tb first appeared, there were a lot of fakes and hacking accounts on it. No matter colleagues or friends around me, they would remind you not to be deceived. I didn’t start buying things with tb until 10 years ago. Although I sold game coins on Taobao for two years, I never bought them. I remember that there was a big brother who bought my game currency. Every time he personally went to my studio to watch me give him a deal. This big brother made a deal with me for more than 10,000 yuan. Later, although I started to use tb, but for a long time, I still looked for a local merchant at tb, asked for the address, and then went to buy it myself. . Now look at tb, it is like a formal, actively responding to the call of the country, and a responsible international online sales platform.

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