Some people say that Pinduoduo has replaced the position of the "e-commerce leader".
It is true that Pinduoduo has developed extremely rapidly in recent years. As of December 31, 2023Pinduoduo's market capitalization has grown by more than 91% annually, the market value reached 1,376.8 billion yuan, and the market value of Alibaba is only 19 billion yuan, which is four times the market value of JD.com.
But,Will Pinduoduo's growth continue?AnswerPerhapsNo
Internet companies use the A-B test as the basis for all product adjustments. And Pinduoduo goes one step furtherCriticality point testing is carried out on participants in every aspect of the businessto explore how fast a company can grow and how far the business rules can be bent.
For example:"Chop".is the limit of the means of user growth: Users pull people to place orders for discounts, receive money, receive airpods, and help Pinduoduo pull more than the number of users, until they enter the number game of six decimal places, and they can't cut the last knife.
For example:"Spell Single".It's the limit of sales efficiencyBusinesses and businesses cut prices and get tens of millions of orders with zero marketing expenses, until algorithm-driven advertising tools appear in front of them.
Another example"Duty".It is the limit of the employee's workPinduoduo employees are paid the best salaries of their peers and focus on doing things in a distraction-free environment until late-night overtime becomes the norm and options become increasingly difficult to cash.
For example:"Scale".It's the limit of the partner's **Promotion, logistics, all walks of life have seized the last high-growth company in China's Internet industry, breaking the long-fixed industry pattern, until the payment period in front of them is getting longer and longer.
There are many similar practices and transformations, and it can be said that at each stage, Pinduoduo starts with innovative practices to benefit all parties, and then gradually evolves into a limit test of participants' patience, so that Pinduoduo can achieve a rollercoaster of growth faster and lighter.
Until 2021, the GMV reached 2At 4 trillion, Pinduoduo still has fewer than 10,000 employees. You must know that when Ali has the same sales scale, the number of people is more than twice that of Pinduoduo.
Below the ultimate efficiency is the ultimate pressure. To this day,The consequences of the tipping point test will also be "fed back" to Pinduoduobody.
In the second half of 2023, there will be a lot on PinduoduoSmall and medium-sized businessesAs a consumer, he placed batch orders in Pinduoduo's self-operated stores in a short period of time, and quickly applied for refunds and "refunds only without returns" to vent his dissatisfaction.
At Pinduoduo's Golden Hongqiao headquarters, the working atmosphere is also changing. Some departments, youngEmployeesStarted to live a survival mode of clocking in at 10 a.m. every day and leaving work at 10 p.m. on time.
In other words, Pinduoduo's growth is also about to reach a critical point.
If no timely response is taken, it is likely to occurUsersEmployeesYesas a merchantThe domino effect of successive crashes
Reference**: Entrepreneur Information, Issue 9, 2023, 109-111, "Pinduoduo's Tipping Point Moment", Zhang Qin, Shen Fangwei