Pinduoduo to close in on Amazon's GMV by 2024 📈

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Artur Stańczuk

July 28, 2024

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Summary:

Recently Statista has published an interesting infographic based on ECDB figures, regarding Amazon and Pinduoduo. It seems that Chinese competition is making significant strides in the e-commerce sector.

Deep Dive:

📊 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.

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🚀 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.

Available in Germany since April 2023 with rising success.

1 in 4 Germans bought from Temu in the past six months.

📦 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 Amazon’s reputation for fast shipping?

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