š Pinduoduo's Rapid Growth
In 2019, Amazon's GMV was over twice that of Pinduoduo.
By 2024, Pinduoduo will be just 13% behind Amazon.
Shortly after the release of the shopping app Temu in autumn 2022, Pinduoduo renamed itself PDD Holding
PDD Holdings (Pinduoduo) saw record sales of $34.9B in 2023, 90% growth from the previous year.
ā
š Temu's Impact
Temu app launched in the USA in autumn 2022, topping download charts.
Temu's global GMV is $30B vs. Amazon's $389B. Ā
Available in Germany since April 2023 with rising success.
1 in 4 Germans bought from Temu in the past six months.
š¦ Amazon's New Strategy
Amazon plans a discount segment to compete with Temu.
Direct shipping from manufacturers to cut costs.
Potential longer shipping times from China.
Will this hurt Amazonās reputation for fast shipping?
