text | Qingyang
map | network
editor | Hee hee
been a long time no one then. " "Outside the Fifth Ring" to describe Pinduoduo.
According to Pinduoduo’s latest financial report data, as of June 30, 2021, Pinduoduo’s annual active buyers reached 849.9 million, and there were 26.1 million new quarters, and the average monthly active users reached 738.5 million, accounting for a year. 87% of active buyers.
and Alibaba The 2021 fiscal year report shows that as of the end of March this year, the number of users in the global annual active consumer of the Alibaba ecosystem has reached more than 1 billion, of which 891 million are from Chinese retail Approximately 240 million of the market, local life services, and digital media and entertainment platforms are from overseas.
This means that the number of active buyers of Pinduoduo, which started from the Fifth Ring Road from the e-commerce business alone, has already approached the number of buyers in the entire ecosystem of Alibaba. If the e-commerce business in the Ali system is singled out, Pinduoduo has already greatly surpassed this old rival.
In addition,Relying on the vigorous promotion of tens of billions of subsidies, Pinduoduo's user group has also undergone great changes, and more and more users of the so-called "fifth ring" have also entered Pinduoduo. Especially in the field of electronic consumer products with high customer unit prices, the "tens of billions of subsidies" have formed a fixed user mind. Before users choose to buy electronic products, entering Pinduoduobi price has become a fixed process.
Compared with previous fake images, Pinduoduo seems to be becoming more and more decent. And behind this kind of decent, it is precisely relying on Pinduoduo's almost barbaric marketing techniques to smash it out with real money.
Grass age
br23 Belongs to a hotbed of fake and shoddy.
In July 2018, the founder of Pinduoduo, Huang Zheng brought 4 Pinduoduo users from the same family to ring the bell for listing. After the bell was struck, Pinduoduo's opening share price soared by nearly 40%, and its market value reached nearly US$30 billion. The applause and congratulations surrounded Huang Zheng for a long time.
However, shortly after the listing, doubts about Pinduoduo's selling of fake products and poor quality of the goods began to flood, flooding Pinduoduo and Huang Zheng.
July 25, 2018The media broke the news that some netizens posted on a social platform the new millet TV purchased from Pinduoduo. The screenshot of the order shows that the TV is called "Xiaomi New Cloud Smart Voice TV", and the 65-inch 4K version is priced at only 2,960 yuan, while the Xiaomi Mi TV 4 65-inch version is priced at 8,499 yuan on the official website of Xiaomi Technology. The 55-inch Mi TV 4A and 4X also cost 2,499 yuan. After the arrival of the goods, the logo on the front panel of the TV was impressively written with the words "Xiaomi New Products".
In addition to cheap products, there are also many pornographic, violent, and illegal products, including bladed knives, fake base station equipment, motorcycle license plates, and inflatable dolls. In fact, the ecology of Pinduoduo was the real demand of China's sinking market at that time.
commented, “China is so big that you think there are 985 and 211 everywhere. In fact, undergraduates only account for 4% of the country; China is really too big, so big that you think of entry-level hair dryers. It starts at 200 yuan, and the delicate ladies spend 2,000 yuan to buy Dyson. But in fact, more people are still using brand-name hair dryers for 20 yuan, and one use is 20 years."
July 31, 2018 On Japan, the Network Supervision Department of the State Administration for Market Regulation asked the Shanghai Municipal Administration for Industry and Commerce to interview platform operators regarding issues reported by the media regarding the sale of infringing and counterfeit goods on Pinduoduo. Shanghai, , Changning District, two-level Industrial and Commercial Bureau has asked Pinduoduo to immediately conduct self-examination and self-correction, and rectify the problems reported by the media and complaints and reports from trademark rights holders, so as to effectively protect the legality of consumers rights and interests.
is affected by this event,Pinduoduo's share price has fallen all the way, close to being cut in half.
Accurate spending money
In 2018, when Pinduoduo was listed, its marketing expenses were 13.4 billion yuan. A year later, this number became 27.1 billion yuan, more than doubled. And 2019 is the year when Pinduoduo fully launched the 10 billion subsidy.
At the end of March 2019, Pinduoduo’s annual active user growth rate dropped to 6% from the previous month, and the number of new users in a single quarter was only 24.8 million, a record low. In other words, the growth space of Pinduoduo in the old site has peaked.
So, in June 2019, Pinduoduo began to push tens of billions of subsidies, and directly used the money to hit users. The key category covered by the tens of billions of subsidies is the digital 3C products represented by Apple mobile phones, which are all products with high customer unit prices and attract first- and second-tier users.
As of the end of 2019,Pinduoduo's annual active users are 585 million, Ali is 711 million, and JD is 362 million. Among them, in the fourth quarter when the tens of billions of subsidies were fully applied, Pinduoduo added 48.9 million new users, far surpassing JD’s 27.6 million new users and Alibaba’s 18 million new users.
This year, Pinduoduo has completely stabilized its position as the second largest e-commerce company, and began to approach Ali as the boss. At the same time, the price per customer of Pinduoduo was also rapidly increased afterwards. Pinduoduo's per capita consumption of buyers in fiscal year 2020 was 1551 yuan, and at the end of 2020, it increased to 2115 yuan.
In this way, Pinduoduo took off the hat of "outside the five ring roads". It seems that from Pinduoduo's point of view, there is nothing that cannot be solved with money. If so, spend it again.
From the media YOUNG Finance reported that there is a large number of pirated books sold on the Pinduoduo platform. Among the 574 books purchased by YOUNG Finance on Pinduoduo, up to 507 books were identified as pirated by the publisher. In the product descriptions of these book products, most of them have copyright information, and some pirated books are marked with the "genuine insurance" logo on their promotional pages, and the word "genuine" is attached to the title.
China Medical Science and Technology Press has selected 23 shops on the Pinduoduo platform that sell " Pharmacopoeia of the People's Republic of China " and "Guide to the National Practicing Pharmacist Professional Qualification Examination 2020". After inspection, it was found that the above-mentioned books sold in these 23 stores were all pirated copies, of which 21 sold pirated paper books, while the other 2 sold electronically scanned copies.
this time,With the fermentation of public opinion, Pinduoduo once again started spending money to buy decent.
On March 31, Pinduoduo officially opened the Duoduo Book Month. According to the official description of Pinduoduo, this time Pinduoduo has united more than 30 publishing houses and book companies such as CITIC Publishing House, Knowledge Publishing Bureau, Qingdao Publishing House, etc., targeting social sciences, literature and art, teaching aids, etc. Ten billion subsidies will be given to more than 1,000 books in each category to promote the concept of "good books at affordable prices" and "pleasant reading for all".
The paradox is that Pinduoduo has also joined with Zheng Yuanjie to launch the Fairytale King flagship store, full-line Ppilu genuine books and parenting books signed by Zheng Yuanjie.
In fact, as early as 2018, fairy tale writer Zheng Yuanjie publicly reported that a certain merchant on the Pinduoduo platform sold pirated "Pipiru" series of books. Later, Pinduoduo once responded that the platform had closed stores, frozen funds and blacklisted the stores involved in accordance with Zheng Yuanjie's report.
gave up profit for the greater decent
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_pbr2p_p23p Revenue of RMB 100 million, a year-on-year increase of 89%. Under standard accounting standards (including various depreciation, amortization expenses and taxes),Pinduoduo achieved a net profit of 2.414 billion yuan.
This is Pinduoduo's first profit under standard accounting standards. Affected by this news, Pinduoduo's share price rose 18.96% that day, and its market value rose to above US$120 billion.
However, unexpectedly, Pinduoduo did not place too much emphasis on this profit. Pinduoduo’s CFO Ma Jing said, “Earnings performance has no reference to the future. Because the second quarter is a traditional off-season for Pinduoduo, marketing expenses have been reduced and profitability has been achieved.”
Announcing the "10 billion agricultural research project", saying that it will not promote the advancement of agricultural science and technology for the purpose of industry value and profitability, and give more motivation to agricultural science and technology practitioners and laborers.
In other words, "I am not interested in profitability. It is more important to give back to the society."
Pinduoduo chairman and CEO may have several future quarters and Chen Lei said Profits will be prioritized to be invested in the project until the total amount of 10 billion is met. As of now, the total amount of cash and cash equivalents on Pinduoduo's account is 19.15 billion yuan. But in fact, for the whole year of 2020, Pinduoduo's GMV will be 1.67 trillion yuan, of which the GMV of agricultural products will reach 27 million yuan, accounting for less than 20%.
This also means that Pinduoduo will continue to spend money for greater dignity. Decent is not enough, more money is spent.
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