Pinduoduo

Nine dimensions merchants should review before joining:

Merchant snapshot

Kufanelekile kubathengisi bochungechunge lokuhlinzekwa bamanani aphansi kakhulu (imikhiqizo engenabrendi/imikhiqizo yezolimo/izifunda zemboni): abathengi abangaphezu kwezigidi eziyisishiyagalolunye (9亿+) abasezindaweni ezingaphansi, izindleko zethrafikhi ziphansi, kodwa imithetho ye-refund-only nezinhlawulo inezingxabano ezinkulu, imarjini yenzuzo iyacindezelwa.

Entry requirements

Bonke abantu/amabhizinisi amancane/izinkampani bangavula izitolo, isitolo somuntu sinesithiyo esiphansi, ukujoyina kumahhala, inqubo yenziwa ku-inthanethi; isitolo senkampani sidinga ilayisensi yebhizinisi nezimfanelo zezigaba; abathengisi bezolimo nezifunda zemboni banomzila wokusekelwa. Umbono wangaphandle: ukuwela imingcele kwenziwa ngesiteshi se-Temu (izinhlobo ze-full-managed/semi-managed, umthengisi uhlinzeka, inkundla ibeka amanani futhi iyagcwalisa), ngo-2025 ukukhula nenzuzo zacindezelwa ingcindezi yentela yase-US (isilinganiso se-GMV $35–50B+, kukhona ukungqubuzana kokubalwa). Ulimi luyisi-Chinese ikakhulukazi.

Fee structure

Ikhomishini yensiza yobuchwepheshe eyisisekelo emikhakheni eminingi icishe ibe ngu-1% (eminye imikhakha ngu-0.6%, ngokohlelo lwemali olusemthethweni); imali yensiza yobuchwepheshe ye-Billion Subsidy kusukela ngo-September 2025 eminye imikhakha ikhushulwe kusuka ku-1.9% kuya ku-4.4% (isib. ama-water flosser; izimonyo zezinwele kusuka ku-1.9% kuya ku-3.4%) [亿邦动力]; ukuthola imali kuncike ezinsizeni zokumaketha ku-inthanethi (多多搜索/izimo/ukukhushulwa kwesayithi lonke) + imali yensiza yokuthengiselana; izindleko ezicashile yimithetho yezinhlawulo/ukuxhaswa (abathengisi bakhala ukuthi izinhlawulo ziqala ku-¥3, azinamkhawulo, izikhalazo azisebenzi).

Getting traffic

Ithrafikhi yemvelo ihlobene kakhulu nentengo — amanani aphansi + isisindo sokuthengiswayo kunquma ukuhlelwa ekusesheni; i-Billion Subsidy iyisango lethrafikhi lezinga lenkundla; ukuthenga ngamaqembu nokusabalala kwezenhlalo kulethela amakhasimende ngezindleko eziphansi; izikhangiso ziyinhlelo yokukhushulwa kwe-Duoduo (ukusesha/izimo/isayithi lonke). Abathengi abasebenzayo ngonyaka abangaphezu kwezigidi eziyisishiyagalolunye, i-DAU ye-Double 11 '25 yaba ngu-414 million, iyeyesibili.

Fulfilment & logistics

Kugxilwe ekuzithumeleni komthengisi, inkundla ihlola ngokuqinile isikhathi sokuthumela nokulandelwa kwezokuthutha; imikhiqizo yezolimo ithunyelwa ngqo kusuka lapho ikhiqizwa khona; izifunda ezikude zinezinqubomgomo zokuthunyelwa kwamahhala; inkundla ayinayo indawo yokugcina nokuletha ezisebenzelayo, izindleko zokugcwaliseka zithwalwa ngumthengisi.

Payments & settlement

I-WeChat Pay/Alipay/Duoduo Pay, ikhokhelwa nge-yuan; imali yokuthengiswayo ikhokhelwa ngemuva kokuqinisekiswa kokuthola ngokwesikhathi senkundla (ngemithetho yenkundla); kusekelwa ukukhokha ngesikweletu okufana nokuthenga kuqala ukhokhe kamuva.

Compliance

Kudingeka ilayisensi yebhizinisi nezimfanelo zezigaba; i-e-commerce yasekhaya ikhokha intela; umthetho we-refund-only/ukubuyiselwa kwemali ngaphandle kokubuyiswa kwempahla unzima futhi usugxekiwe iziphathimandla (ubungozi bokuqiniswa); ngo-2025 imithetho emisha yaqinisa izibopho zensiza yangemva kokuthenga zomthengisi (isib. ukucubungula ukushintshwa kwempahla emahoreni angu-24); izigaba ezifana ne-3C zidinga ukuqinisekiswa okuphoqelekile.

Key risks

(1) Umthetho we-refund-only + izinhlawulo ubangela ukugomela okuhlelekile kwabathengisi (ingxabano yezinhlawulo eziphindwe kahlanu, ukuvinjezelwa kwekomkhulu le-Temu, izono eziyishumi ze-Pinduoduo); (2) ukubuyiselwa kwemali ngaphandle kokubuyisa impahla ngobubi kudla ukwethenjwa kwe-ecosystem yabathengisi, uma umthetho we-refund-only uqiniswa iziphathimandla kuba ubungozi bokuthobela imithetho; (3) umncintiswano onzima wamanani aphansi ucindezela imarjini, i-Billion Subsidy iqhathaniswa ngokuphelele yi-JD.com/Taobao/Douyin, umgodla wokuzivikela uyancipha; (4) inkundla ikhulisa imali engenayo kodwa hhayi inzuzo — i-Q4'25 imali engenayo +12% kodwa inzuzo emsulwa elungisiwe -12%, izinqubomgomo zezimali zingase zidluliselwe kubathengisi.

Best-fit sellers

Kufanelekile kakhulu kubathengisi bochungechunge lokuhlinzekwa lwezindleko eziphansi kakhulu abanjengemikhiqizo engenabrendi, imikhiqizo yezolimo, izinto zansuku zonke ezithengwa ngokushesha nemifektri yezifunda zemboni; akufanelekile kubathengisi ababeka phambili ukukhokhiswa okwengeziwe kwebrendi, abanamarjini aphezulu (kunzima ukusinda ngaphansi komncintiswano wamanani nemithetho yezinhlawulo).

Sources

research/sections/cn_platforms.md §4.2.2; research/China_ecommerce_top5_research.md §2#2; https://www.ebrun.com/20250925/606044.shtml; https://m.ebrun.com/579080.html; https://www.sohu.com/a/938664078_120287836; https://m.toutiao.com/w/1864682598349836/; https://m.thepaper.cn/baijiahao_30439429

I-Pinduoduo ivela ohlwini lwe-Top-5 lwezifunda ezingu-1: i-China.

• i-China（#2）：Amanani aphansi kakhulu + ukuthengwa kweqembu + Imixhaso Yezigidigidi Eziyikhulu; izimakethe ezisezingeni eliphansi kanye nemikhiqizo yezolimo; Temu phesheya

Inombolo ngayinye ithathwe embikweni we-Top-5 nasekuHlolweni kwemithombo yaleso sifunda. Akukho ukuguqulwa kwezifunda noma izilinganiso ezintsha: