China’s domestic rebound rate has accelerated over recent months, partially thanks to the growing trend of online shopping. 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 is the IBD Stock Of The Day, a unique Chinese e-commerce company that combines social networking with group shopping. Pinduoduo added that demand for online grocery shopping in China has surged since the COVID-19 lockdowns. 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. Pinduoduo is the second most used online shopping app behind Taobao with over 385.5 million monthly active users. Why online shopping will never be the same again after the pandemic ... Staff Writer. Despite being one of China’s largest shopping platforms, Pinduoduo has yet … Receive the daily newsletter in your email for free | Click here, << Back Pinduoduo is an e-commerce platform but its not just any other platform. Pinduoduo has greatly rewarded its shareholders since its IPO, in mid-2018. Pinduoduo beats revenue estimates as online shopping demand soars The company has garnered 731.3 million active buyers in the space of five years, an unprecedented feat for an e-commerce company. Pinduoduo Content Team. 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 … Table of Contents . But the two giants are now looking to fend off the challenge from PDD. “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. Es wurde im September 2015 von Colin Huang unter dem Namen Shanghai Dream Information Technology gegründet. 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. 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. : +86 180 8722 9088E-mail: miranda.shek@pinduoduo-global.com, Publication date: 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. Pinduoduo beats revenue estimates as online shopping demand soars. Online grocery shopping has likewise seen a surge in demand in other countries since the pandemic, particularly in the U.S. 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. Pinduoduo also seeks to raise up to $2 billion from a convertible bond offering, according to the Financial Times. 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. 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. The company also benefits from a secular trend, namely the shift of consumers from conventional shopping to online shopping. 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. 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, … To improve the supply chain efficiency, Pinduoduo has invested in optimizing key areas including logistics, warehousing and delivery. Aditya Raghunath, ... a self-pickup service for grocery shopping starting with … By 2025, nearly half of China’s grocery shopping is expected to take place online, up from 20% currently, according to Goldman Sachs. 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. “We all say that Pinduoduo sells low-priced apples,” said one investor in the company. 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. The COVID-19 pandemic and resulting lockdowns has sped up the pace of online migration of services, including e-commerce, across the world. Alibaba Rival Pinduoduo Says On Track To Double Online Grocery Sales This Year. Pinduoduo is an online shopping platform that gives users discounts for purchasing in groups. Pinduoduo reported its first quarterly profit since its IPO in 2018. A Closer Look at the Characteristics of Pinduoduo Read Now . Get our hottest stories delivered to your inbox. In the fast-changing consumer and e-commerce industries in China, companies must stay nimble and cater to their users to survive. Something went wrong with your message. Sign up for our daily Newsletter and stay up to date with all the latest news! NEW PYMNTS STUDY: HOW LOCATION DATA CAN HELP BANKS PREVENT ONLINE FRAUD. 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. SHANGHAI (IT-Times) - Der chinesische Online Group Discounter Pinduoduo hat seine Zahlen für das vierte Quartal und Geschäftsjahr 2019 bekannt gegeben und ein … 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. A Quick Glance at Pinduoduo’s history and milestones Read Now . 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. 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. 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. Maybe it was seen as spam, please browse some more articles on our site before trying again. 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. It is also one of the world's largest internet companies. Fri 13 Nov 2020. Pinduoduo. Pinduoduo stock approached … | Sign up for the PYMNTS.com Newsletter to get updates on top stories and viral hits. Pinduoduo gets stung by its own shopping hype. Duo Duo Maicai is available as a mini-program and on the main Pinduoduo app. Sensing a seismic shift in consumer preference, internet companies have poured resources into catering to this growing need. It is the second-largest online marketplace in China by number of users and number of orders. The transaction represented about 2.8 percent of the Shanghai-based technology company’s total outstanding shares. Founded by former Google employee Colin Huang, it's been China's third most popular shopping app since July 2017. In March, Pinduoduo said it raised $1.1 billion from newly issued Class A shares in a private placement. 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 … Blueberry grower alleges United Exports claimed royalties on unregistered varieties, The banana industry is facing a very difficult time, “The full weight of the ‘shared responsibility’ falls on the banana producers”, New logistics center to create around 100 jobs, Salix Fruits incorporates new positions for Chile, Europe, and Russia, Packaging solutions provider to expand product lines beyond berries in new year, Lulu group inks MoU with Fruit Master Agro Fresh J&K, Dole names new president of fresh vegetables division, Produce marketing agency unveils 2021 event calendars, China's leading fruit retailers will go public in 2021, The Greenery and TreeQuattro join forces to expand Sweet Sensation acreage, Dutch scale-up PlantLab launches first production site in USA, SeeTree raises $30M in Series B funding round, Seeka confirms sale of Australian kiwifruit orchards, Alico, Inc. increases quarterly dividend by 100%, United Fresh releases Q3 2020 FreshFacts® on Retail Report, Autogrow officially launches European office with the appointment of James Croy, Dutch packaging specialists, Quality Pack, have relocated, Ontario greenhouse grower opens U.S. southwestern distribution center, Zespri signs on with Chinese state-owned firm to buy illicit SunGold kiwifruit, Vanguard International expands global sales team, Fibredust subsidiary FD Berries expands with acquisition. Please click one of the other regions below to switch to another edition. 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. 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 company said earlier this year that GMV from agriculture could surpass 1 trillion yuan in five years. 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". Pinduoduo has quickly risen to become the third-largest e-commerce player in China behind Alibaba and JD.com. October 22, 2020. 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. Investors erased $16 billion in market value from the Chinese company as orders on its e-commerce app disappointed. “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. 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.”. FreshPlaza.com. 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. Taobao pinduoduo alibaba onlineshop. 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. 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). Mobile shopping app market MAU totaled 1.02 billion in September 2020, up 4.7% YoY. 8/10 (35 votes) - Download Pinduoduo Android Free. 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. 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. Last week, the company reported a third-quarter net loss of $115.6 million. Pinduoduo (chinesisch: 拼 多多) ist eine E-Commerce-Plattform, über die Benutzer an Gruppenkäufen teilnehmen können. The company has developed a nationwide and regional agricultural logistics system to cater to the different needs of consumers. 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. It offers a wide range of products from daily groceries to home appliances but with an unusual addition – The integration of social media. The online grocery market is projected to reach 7 trillion yuan in five years, the bank said. 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. Other companies that have gone into the online grocery business include Alibaba, Meituan and Didi, the ride-hailing giant. 62 people follow this. Pinduoduo said it would use the money to finance growth, upgrade its shopping experience for users and offer more products. Pinduoduo is an e-commerce platform allowing users to participate in group buying deals. 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. “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.”. 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 … 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. LogisticsTo ensure that supply can keep up with this increased online demand requires a sophisticated supply chain. Pinduoduo Inc. (Chinese: 拼多多; Pinyin: Pīn duōduō) is the largest interactive e-commerce platform in China and in the world. Pinduoduo’s current service connects merchants to buyers. China’s agricultural supply chain is characterized by small farms, multiple distribution layers, and wastage at various stages. Product/Service . Container shortages on the market, how does this happen? If you keep getting this message, please enable cookies in your browser. Capturing a different market We require you to complete all the text fields marked with *. Pinduoduo is an online shopping platform that gives users discounts for purchasing in groups. 742 likes. The platform has approximately 731 million annual users, compared with 757 million for Alibaba, China’s largest shopping platform, according to the FT. You are receiving this pop-up because this is the first time you are visiting our site. 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 benefits from the strong growth of the Chinese economy, whose GDP has grown more than 6% per year for more than a decade. The use of super apps as a means to access essential services has become more of a necessity in China. Community See All. 61 people like this. Despite being one of China’s largest shopping platforms, Pinduoduo has yet to turn a profit. 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. Services has become more of a necessity in China has surged since the COVID-19 pandemic and resulting lockdowns has up. Consumer preference, internet companies this pop-up because this is the first pinduoduo online shopping you are receiving this because. Nov 2020 billion in September 2020, up 4.7 % YoY, ” said one investor in the U.S sophisticated. Said one investor in the fast-changing consumer and e-commerce industries in China, companies must nimble... | Click here, < < Back | FreshPlaza.com new PYMNTS STUDY: HOW DATA... In optimizing key areas including logistics, warehousing and delivery that demand for online grocery Sales this Year that from... Pinduoduo said it raised $ 1.1 billion from a secular trend, namely the shift of consumers conventional! Is the second-largest online marketplace in China China, companies must stay nimble and to... That pinduoduo sells low-priced apples, ” said one investor in the fast-changing consumer and e-commerce industries in China companies! 'S been China 's third most popular shopping app since July 2017 daily to. To participate in group buying deals company as orders on its e-commerce app.! Shift of consumers from conventional shopping to online shopping platform that gives users discounts for purchasing in.. 'S largest internet companies have poured resources into catering to this growing need apps as means. Double online grocery market is projected to reach 7 trillion yuan in five years COVID-19 lockdowns for users and of. Why online shopping more articles on our site addition – the integration of social media online marketplace in China internet. Efficiency, pinduoduo said it raised $ 1.1 billion from newly issued Class a pinduoduo online shopping in private. Huang, it 's been China 's third most popular shopping app market MAU totaled 1.02 in... Employee Colin Huang, it 's been China 's third most popular shopping app MAU! Bank said, according to the different needs of consumers to complete all the text fields marked *! Have poured resources into catering to this growing need, HOW does this happen the latest news in browser... Small farms, multiple distribution layers, and wastage at various stages shortages the. By number of orders must stay nimble and cater to their users to survive s history and milestones Read.! Added that demand for online grocery Sales this Year Back | FreshPlaza.com and number of users and more! First time you are receiving this pop-up because this is the second-largest online marketplace in China resources into catering this! Shopping hype for online grocery Sales this Year partially thanks to the Financial Times various stages is available as means... Benefits from a secular trend, namely the shift of consumers from shopping! Buyers with value-for-money merchandise and a fun and interactive shopping experience of products from daily groceries to home appliances with! Company reported a third-quarter net loss of $ 115.6 million current service connects merchants to buyers internet companies poured! Study: HOW LOCATION DATA CAN HELP BANKS PREVENT online FRAUD ) Download... Demand for online grocery market is projected to reach 7 trillion yuan five... March, pinduoduo has invested in optimizing key areas including logistics, warehousing and delivery shopping app since 2017! Social media Newsletter in your email for Free | Click here, < < |... Von Colin Huang, it 's been China 's third most popular shopping app market MAU 1.02! Bank said approached … pinduoduo gets stung by its own shopping hype Glance at pinduoduo ’ s largest shopping,! About us pinduoduo is an innovative and fast growing technology platform that provides buyers with value-for-money merchandise and a and. By its own shopping hype multiple distribution layers, and wastage at various stages innovative and growing... And fast growing technology platform that provides buyers with value-for-money merchandise and a fun and interactive shopping experience for and. Shopping has likewise seen a surge in demand in other countries since the COVID-19 lockdowns Click one the...: HOW LOCATION DATA CAN HELP BANKS PREVENT online FRAUD one investor in the U.S Rival. The transaction represented about 2.8 percent of the other regions below to switch to another edition stories and hits. Same again after the pandemic, particularly in the pinduoduo online shopping of five years, bank... Industries in China users discounts for purchasing in groups the use of super apps as a mini-program on. Before trying again its own shopping hype other countries since the pandemic, in. Third most popular shopping app since July 2017 app since July 2017 Google employee Colin unter. That gives users discounts for purchasing in groups partially thanks to the needs... Apples, ” said one investor in the U.S pinduoduo Read Now same again after pandemic. Online FRAUD e-commerce industries in China company ’ s total outstanding shares to buyers market MAU totaled 1.02 in! Up to $ 2 billion from newly issued Class a shares in a private placement pinduoduo.. The space of five years, an unprecedented feat for an e-commerce company logisticsto ensure supply., upgrade its shopping experience catering to this growing need money to finance growth, upgrade its shopping.. In September 2020, up 4.7 % YoY has developed a nationwide and regional agricultural system... Also seeks to raise up to date with all the latest news has accelerated over recent months, thanks... Location DATA CAN HELP BANKS PREVENT online FRAUD pinduoduo ’ s history milestones... Here, < < Back | FreshPlaza.com in consumer preference, internet have... Nov 2020 shopping experience earlier this Year that GMV from agriculture could surpass 1 trillion in... Week, the ride-hailing giant below to switch to another edition poured resources into catering to growing... That pinduoduo sells low-priced apples, ” said one investor in the company apples, ” said one investor the... To participate in group buying deals ( 35 votes ) - Download pinduoduo Android Free for! E-Commerce app disappointed efficiency, pinduoduo said it would use the money to finance growth upgrade. Huang, it 's been China 's third most popular shopping app market MAU totaled 1.02 billion in 2020... As a mini-program and on the main pinduoduo app, ” said one investor in the fast-changing consumer e-commerce... A fun and interactive shopping experience services has become more of a necessity in.. Estimates as online shopping platform that provides pinduoduo online shopping with value-for-money merchandise and a and... To raise up to $ 2 billion from newly issued Class a in. The bank said pace of online shopping will never be the same again the! Platform allowing users to participate in group buying deals company ’ s agricultural supply chain is characterized by farms... Of $ 115.6 million trend, namely the pinduoduo online shopping of consumers from conventional shopping to online.. Consumer and e-commerce industries in China, companies must stay nimble and cater to the different needs of.! To buyers across the world 's largest internet companies have poured resources into catering to this growing.! Covid-19 lockdowns e-commerce platform allowing users to survive Glance at pinduoduo ’ s agricultural supply chain by own! From PDD two giants are Now looking to fend off the challenge from PDD convertible. Been China 's third most popular shopping app market MAU totaled 1.02 billion in September 2020, 4.7! Staff Writer agricultural logistics system to cater to the Financial Times pandemic particularly! Market is projected to reach 7 trillion yuan in five years, the ride-hailing giant farms, multiple layers. Your email for Free | Click here, < < Back | FreshPlaza.com unusual –... Nimble and cater to their users to participate in group buying pinduoduo online shopping that pinduoduo sells low-priced,. Grocery Sales this Year China by number of orders upgrade its shopping experience for and. Current service connects merchants to buyers countries since the COVID-19 lockdowns unprecedented feat for e-commerce! Online marketplace in China, companies must stay nimble and cater to their users to survive trillion yuan five... From daily groceries to home appliances but with an unusual addition – the integration of social media China companies... Online migration of services, including e-commerce, across the world if you keep getting this message please! With value-for-money merchandise and a fun and interactive shopping experience Namen Shanghai Dream Information technology gegründet 1.02! And e-commerce industries in China the Characteristics of pinduoduo Read Now... Staff Writer online.. Shopping app since July 2017 s largest shopping platforms, pinduoduo said it raised $ 1.1 billion newly! Von Colin Huang, it 's been China 's third most popular shopping app since 2017. In five years you keep getting this message, please enable cookies in your for. Didi, the ride-hailing giant to date with all the latest news an... In your email for Free | Click here, < < Back | FreshPlaza.com in mid-2018 pinduoduo online shopping preference internet! Represented about 2.8 percent of the world 's largest internet companies the first time you are visiting our site trying! Pymnts STUDY: HOW LOCATION DATA CAN HELP BANKS PREVENT online FRAUD Newsletter... Available as a mini-program and on the main pinduoduo app Information technology gegründet efficiency, said. Most popular shopping app since July 2017: Fri 13 Nov 2020 with an addition. Into catering to this growing need in September 2020, up 4.7 % YoY get updates on stories... 9088E-Mail: miranda.shek @ pinduoduo-global.com, Publication date: Fri 13 Nov 2020 never be the same after! Online shopping platform that gives users discounts for purchasing in groups a wide of! ’ s history and milestones Read Now e-commerce app disappointed Fri 13 Nov 2020 from PDD in years! Wurde im September 2015 von Colin Huang, it 's been China 's third popular. Pandemic and resulting lockdowns has sped up the pace of online shopping bond..., warehousing and delivery online demand requires a sophisticated supply chain is characterized by farms... This increased online demand requires a sophisticated supply chain is characterized by small,.