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. 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. 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. Online grocery shopping has likewise seen a surge in demand in other countries since the pandemic, particularly in the U.S. FreshPlaza.com. Pinduoduo is an e-commerce platform allowing users to participate in group buying deals. Pinduoduo is an e-commerce platform but its not just any other platform. Please click one of the other regions below to switch to another edition. 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. 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 stock approached … It offers a wide range of products from daily groceries to home appliances but with an unusual addition – The integration of social media. Product/Service . LogisticsTo ensure that supply can keep up with this increased online demand requires a sophisticated supply chain. Community See All. 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. 742 likes. Other companies that have gone into the online grocery business include Alibaba, Meituan and Didi, the ride-hailing giant. Why online shopping will never be the same again after the pandemic ... Staff Writer. 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. Sensing a seismic shift in consumer preference, internet companies have poured resources into catering to this growing need. A Quick Glance at Pinduoduo’s history and milestones Read Now . 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, … 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. Pinduoduo (chinesisch: 拼 多多) ist eine E-Commerce-Plattform, über die Benutzer an Gruppenkäufen teilnehmen können. 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. 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 … The company has garnered 731.3 million active buyers in the space of five years, an unprecedented feat for an e-commerce company. Table of Contents . The platform has approximately 731 million annual users, compared with 757 million for Alibaba, China’s largest shopping platform, according to the FT. In the fast-changing consumer and e-commerce industries in China, companies must stay nimble and cater to their users to survive. But the two giants are now looking to fend off the challenge from PDD. The COVID-19 pandemic and resulting lockdowns has sped up the pace of online migration of services, including e-commerce, across the world. Pinduoduo benefits from the strong growth of the Chinese economy, whose GDP has grown more than 6% per year for more than a decade. Investors erased $16 billion in market value from the Chinese company as orders on its e-commerce app disappointed. The online grocery market is projected to reach 7 trillion yuan in five years, the bank said. Something went wrong with your message. Pinduoduo is the IBD Stock Of The Day, a unique Chinese e-commerce company that combines social networking with group shopping. 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. 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. Duo Duo Maicai is available as a mini-program and on the main Pinduoduo app. Pinduoduo has quickly risen to become the third-largest e-commerce player in China behind Alibaba and JD.com. 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… Sign up for the PYMNTS.com Newsletter to get updates on top stories and viral hits. Mobile shopping app market MAU totaled 1.02 billion in September 2020, up 4.7% YoY. 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. 8/10 (35 votes) - Download Pinduoduo Android Free. “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. Receive the daily newsletter in your email for free | Click here, << Back Pinduoduo beats revenue estimates as online shopping demand soars. 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.
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