Earbuds for $3.70, Dresses for $5 Key Shopping Site’s U.S. Launch

A retail website is counting on a tried and true strategy in its efforts to break into the U.S. market by offering highly discounted prices on a variety of consumer goods.

It usually takes a few years for apps and platform that are huge in China to conquer the Western market. This could be seen with social media platform TikTok, fast fashion retailer Shein and even retail platform Alibaba  (BABAF) .

Sometimes described as “China’s Amazon”  (AMZN) , Pinduoduo was launched in 2015 and rose to a revenue of 93.9 billion yuan ($14.7 billion USD) by the end of 2021.

Similarly to Shein, the e-commerce platform offers goods at the rock-bottom prices  — but, in addition to clothes that mirror the styles popular designers, Pinduoduo is used for groceries, everyday home goods and small electronics.

Founder Colin Huang, who spent a few years working at Google  (GOOGL)  before leaving to found Pinduoduo, had previously described his brainchild as a cross “between Costco  (COST)  and Disneyland  (DIS) .”  Another description might be as an online dollar store.

Source link Shopify Analytics

Post Author: Adam Jacob

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