Going to the countryside to find users and growth points through the sinking offline market has become the core strategic goal of the three e-commerce giants such as Ali, JD.com, and Pinduoduo in recent years.
Recently, China’s e-commerce “big three” Alibaba, JD.com, and Pinduoduo have All the transcripts for the second quarter of 2020 will be submitted. In this quarter, Jingdong’s net revenue reached 2011 billion yuan, achieving a single-quarter revenue of over 200 billion yuan for the first time, ranking first among the”Big Three” with a year-on-year growth rate of 33.8%, the highest in nearly ten quarters. Alibaba’s revenue growth rate is”tacitly” with JD.com. Revenue this quarter was 153.751 billion yuan, a year-on-year increase of 34%. Comparing Alibaba’s revenue horizontally, although the growth rate continues to slow down, this quarter’s revenue increased by 38.8 billion yuan over the same period last year, a steady increase.
In contrast, Pinduoduo’s revenue this quarter was 12.193 billion yuan , A year-on-year increase of 67%-this is twice the growth rate of Alibaba and JD.com, but Pinduoduo’s revenue is still less than one-tenth of the latter two. In addition, the number of annual active users of Pinduoduo reached 683.2 million in this quarter, an increase of 41%from 483.2 million in the same period last year, and it is getting closer and closer to the goal of”Pinduoduo, which is used by 700 million people.”
Pinduoduo started from a sinking market, and most of its early user growth came from WeChat For groups that have a large scale within the ecology and have not been in contact with the e-commerce field, the”cutting a knife” is the beginning of most users and Pinduoduo”being connected”. Under this strategy, Pinduoduo’s new user growth rate far exceeds that of Alibaba and JD.com. Now, the number of annual active users of Alibaba’s retail market in China is 742 million, and that of JD.com is 417.4 million. Pinduoduo is still less than 60 million from the ceiling of Alibaba. The degree of overlap is getting higher and higher, and they must all face the new incremental market.
Therefore, the most critical goal for the sinking of major e-commerce platforms this year is User growth. Today, both Alibaba and JD.com are accelerating their sinking to acquire new users. Alibaba takes the Taobao special edition as an example. In June 2020, its mobile MAU is about 40 million. JD.com has continuously acquired new users from lower-tier cities by launching”Jingxi”, responding to the market sinking strategies of Pinduoduo and Ali.
Therefore, compared with Ali and JD, Pinduoduo is more urgently needed There are three problems to be solved:first, how to maintain a user growth of more than 40%after the base becomes larger; second, how to increase the frequency of consumption for new users attracted by the tens of billions of subsidies; third, they have already registered With the advent of Taobao Special Edition and Jingxi, how to maintain their stickiness for user retention.
However, from the perspective of profitability, Pinduoduo, whose losses are normal In other words, the relatively good news is that losses this quarter have narrowed. However, the profitability is obviously not at the same level as Ali and JD. According to the financial report, the net loss attributable to Pinduoduo common shareholders under non-US GAAP was 77.2 million yuan, compared with 411.3 million yuan in the same period last year. Alibaba’s net profit for the quarter reached 39.47 billion yuan, a year-on-year increase of 28%. Jingdong’s net profit attributable to ordinary shareholders was 5.9 billion yuan, an increase of 66.1%from 3.6 billion yuan in the same period last year.
In short, whether it is revenue, profit, or user growth, Ali, Both Jingdong and Pinduoduo have their own advantages and disadvantages. But on the whole, Pinduoduo’s desire to be called the”big three” alongside Ali and JD is still an exaggeration. Although the performance is remarkable, the base and volume are relatively small, and the gap is relatively large in terms of cost control and profit level. Obviously, in the short term, Pinduoduo has little chance of winning.
As the penetration rate of e-commerce in the offline market further increases, regardless of Whether it is sinking the market or the logistics layout, the”hand-to-hand combat” of Alibaba, JD.com, and Pinduoduo may be more intense, and the three parties have the opportunity to achieve greater breakthroughs in performance. As for who can grab more users on the new battlefield And share, let’s wait and see!
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