Pinduoduo has also begun to provide more traffic to brand merchants. Not only has it launched a new WeChat mini program to increase the exposure of brand merchants at a low price, but it has also directly made the "brand black card" that originally required friend invitations to be obtained. Put it in a prominent position on the home page.
On this WeChat applet called "Pinduoduo Welfare Coupon", the editor of Business News saw that users who jump can receive coupons of varying amounts. Compared with Pinduoduo’s official WeChat mini program, the same product under “Pinduoduo Welfare Coupon” is cheaper.
Taking the Jane Eyre children's yogurt of the same style and quantity as an example, the price of the "Pinduoduo Welfare Coupon" applet dropped by 43 yuan after the merchant offered profit, and the final price was 98.9 yuan. The price even after receiving the coupon on the Pinduoduo applet It’s also as high as 136.9 yuan.
Not only that, the editor found that the "Pinduoduo Welfare Coupon" applet also directly set the "Brand Black Card" as the channel entrance and placed it at the item location on the page.
You must know that in the past, if you wanted to obtain a "brand black card", the threshold was still relatively high. You needed to be invited by friends, and the black card amount was only valid for 2 hours.
However, Pinduoduo has now waived the invitation threshold for “Brand Black Card” on all Duoduo platforms, and the usage period of the amount has also been extended to 30 days.
Pinduoduo black card membership is divided into 6 levels. The membership level will increase with the user’s daily visits and orders. The higher the level of black card membership, the greater the discounts they can enjoy, and the maximum amount of a single transaction is also will rise. The highest level of Star member can enjoy a discount of up to 10%, with a single transaction limit of 40 yuan. In addition, you can also get discounts ranging from 5 to 30 yuan for every order you place.
It is obvious that Pinduoduo is building a user incentive mechanism that promotes brand traffic exposure and increases conversion rates.
The editor noticed that currently on the "Pinduoduo Welfare Coupon" mini-program, most of the brands participating in black card discounts are in the fast-moving consumer goods category, and there are relatively few well-known brands such as clothing and home appliances. This makes people think: Pinduoduo. Do you want to use a black card to build your own "Tmall"?
The relevant person in charge of Pinduoduo denied this, saying that there was no such plan.
However, in recent years, Pinduoduo has been trying to make up for the shortcomings of lack of branding, such as attracting more brands to settle in, marking brand flagship stores, and co-creating products with brands, etc., and the methods are almost the same. Cat” route.
This effort saw results on June 18 this year. Data shows that as of 24:00 on June 17, the number of official flagship stores of Pinduoduo home appliance brands has increased by 182% year-on-year, and the number of products has increased by 264% year-on-year.
It is worth noting that currently , Douyin, , and Kuaishou are also increasingly throwing olive branches to brands. During the Douyin 618 Goods Festival, there were 2,467 brand merchants with GMV (total transaction volume) exceeding one million in the apparel, shoe and bag industry alone. During the Kuaishou 6.16 event, brand merchants’ GMV increased by as much as 515% year-on-year.
Pinduoduo and Adidas jointly launched the Super Brand Day event
Pinduoduo will also join forces with brands to create new products in recent years
Why do e-commerce companies love brands? This is actually not difficult to understand.
Brand merchants not only have a more complete and mature product quality and contract fulfillment system, but are also superior to those so-called no-name merchants in terms of resource and financial strength, new product development, marketing capabilities and other dimensions.
There are many people who don’t like Pinduoduo.But when a brand you like and follow joins Pinduoduo, especially if it offers more discounts, will you not follow suit? As a result, Pinduoduo has gained a new user like you, and you are also a user with mid-to-high-end spending power. Why not?
According to Zhuang Shuai, an expert in the retail e-commerce industry and founder of Bailian Consulting, Pinduoduo’s transformation into “Tmall” is actually catering to the trend of consumption upgrading in the sinking market.
As the overall traffic growth slows down, the giants can only try to revitalize their inventory.
In fact, starting from 2021, Pinduoduo will face the dual pressure of weak growth in revenue and user activity.
In the second quarter of 2021, Pinduoduo’s revenue was 23.046 billion yuan, a year-on-year increase of 89%, and the average monthly active users reached 739 million, a year-on-year increase of 30%. Although it seems to be growing, this is already the peak. Since then, these two figures have been declining until the first quarter of 2022, when Pinduoduo's revenue growth rate has dropped to 7% year-on-year, and the growth rate of average monthly active users has dropped to 4%.
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text｜He Qian
audio｜Lin Yuwei
editor｜Kong Yaoyao
image source｜Screenshots of Pinduoduo Welfare Coupon Mini Program, Pinduoduo Official WeChat, Visual China
