In China, Pinduoduo overtakes Alibaba
The Nasdaq-listed online platform Pinduoduo (Tencent) is growing a competitive audience in China’s e-commerce market. The company reported 788.4 million annual active users in 2020, ahead of Alibaba (778 million) and JD.com (471 million). However, Alibaba remains number one in terms of monthly users. Still little known in Europe, Pinduoduo offers a shopping experience based on group buying plus social commerce. To get the best price, customers have to buy together as a group.