Pinduoduo is once again on the hot search because of "slashing a knife".
On March 17, a game anchor of the Douyu platform, "Super Xiaojie", participated in the free mobile phone collection activity of Pinduoduo bargaining during the live broadcast, and the audience in the live broadcast room was quite powerful, and at the most, more than 60,000 people participated in the bargaining.
However, it is embarrassing that although 60,000 people participated in the bargaining, this time the "cutting mobile phone" still failed.
However, it is worth mentioning that after two hours of the next broadcast, the anchor "Super Xiaojie" received a coupon of 0.01 yuan for a mobile phone sent by Pinduoduo. But it is too late, from the perspective of the audience and the majority of consumers, this is more like the cover-up and rescue made by Pinduoduo for its own "slashing a knife" routine, and Pinduoduo has once again fallen into a crisis of trust.
In fact, this is not the first time that Pinduoduo has become the focus of public opinion because of "cutting orders". As early as April last year, a lawyer directly sued Pinduoduo for inviting multiple people to help "cut a single for free", but what people did not expect was that a year later, Pinduoduo was still doing its own thing on the road of "cutting a knife".
Let me ask you, if even 60,000 people can't cut down a mobile phone, then how many people do you need to really cut down the mobile phone of Pinduoduoduo? Behind the "slash a knife" activity of Pinduoduo, how deep is the routine?
The routine behind Pinduoduo's "slash a knife"
To analyze the routine behind Pinduoduo's "slashing a knife", it is necessary to start from the company of Pinduoduo.
Looking back at the development history of Pinduoduo's "slashing a knife", the earliest can be traced back to the "fruit group" activity of spelling goods in 2015.
At that time, the spelling goods will use some of the seasonal explosive fruits as the lottery target, users only need to invite new users to participate in the lottery, and later Pinduoduo's "slash a knife" routine is actually an upgrade in this game.
With the merger of Pinduoduo and Pinduoduo, the number of users of Pinduoduo has increased rapidly, and the volume has also expanded. At this time, Pinduoduo began to use the upgrade routine of "Fruit Puzzle" "slash a knife" to pull new ones.
What is a "slash"? Specifically, consumers usually first see the goods that can be obtained for free in the Mini Program or APP, and after a meal, the progress bar that is free to get will show that it reaches more than 90%. At this time, if you want to bargain again, you need to go to WeChat to invite friends to help. At this time, consumers need to send bargaining links to relatives and friends for help.
In the bargaining page shared with friends, there will also be a guide copy such as "I also want to take it for free", which will stimulate the user's friends to register and cycle the above operation again. At this time, many relatives and friends who helped bargaining also joined the camp of bargaining for free, and prompted new users to carry out a new round of dissemination and sharing.
From the perspective of the entire process of the activity, this "slash a knife" fission activity does not seem to be wrong, but there is a core behind it - how many times to cut to get this product. If you can get this commodity by cutting ten or dozens of times, then this "slashing knife" is naturally not too much of a problem; but if you have to cut thousands of times, tens of thousands of times to get this commodity, it is obvious that this is a pure "routine", because everyone can not get this commodity at all.
So, how many times do you have to cut in Pinduoduo to get a free product? The answer could be hundreds, if not thousands of times.
Last year, a lawyer was unsuccessful because of the "slash and slash" and eventually sued Pinduoduo in court.
In court, Pinduoduo defended itself: although the difference between the display is 0.99%, in fact, this number is 0.9996427%, but because the number of percentages displayed on the page is limited, it can only show 0.9%. In other words, you think that you can cut it with only 0.1% difference, but there are actually 4 decimal points behind it, even if you cut it to the end of the world, it is impossible to really cut successfully.
Many people hold the mentality of "cutting a knife" of wool, thinking that they can get wool; but in fact, for ordinary people, this "slashing a knife" is simply an impossible task, and you are just reduced to another new user of Pinduoduo.
Cheng also "slashes a knife", and defeat also "slashes a knife"
The reason why Pinduoduo can achieve rapid success is inseparable from this "slash a knife" routine.
According to media reports, in Huawei's app market alone, Pinduoduo has been shown to have installed 28.9 billion times, while our total population in China is about 1.4 billion. On average, each Chinese downloaded 20 times.
As for why the number of downloads and installations will be so many, it is behind this "slash a knife" routine. Although everyone knows that this is just a routine, but due to the request of relatives or friends, users who have deleted the software will download the software to help others "slash a knife", and eventually they will fall into the cycle of "downloading and deleting, deleting and downloading" to Pinduoduo.
From the perspective of the development history of Pinduoduo, it was established in 2015, it took only three years to ring the bell to go public, after a year of listing, Pinduoduo's active users surpassed Taobao and Jingdong, and the 12-month GMV was 1.46 trillion US dollars.
However, although Pinduoduo quickly succeeded by relying on the "slash a knife" routine, it also went into decline.
Judging from the data in the third quarter of last year, many of the core data of Pinduoduo are not as expected. Among them, the third quarter achieved revenue of 21.5058 billion yuan, an increase of 51% year-on-year, far lower than the market estimate of 26.47 billion yuan; as of September 30, Pinduoduo's annual active buyers were 867 million, and only 17.4 million were added in a single quarter, lower than market expectations.
In fact, for the decline of Pinduoduo's core data, it is more reasonable.
First of all, in the case of the Internet dividend peaking, the number of active buyers on Taobao and Jingdong is also declining, and the decline in the number of active buyers in Pinduoduo is the trend of the times; secondly, the previous high growth of Pinduoduo was originally exchanged for a variety of similar "slashing a knife" routine, when everyone slowly knows that this is a routine, the decline in the number of Pinduoduo buyers is really normal.
The stock price has plummeted, where will the "routine failure" Pinduoduo go?
In addition to the decline in core data, Pinduoduo has suffered a sharp decline in stock prices in the recent year.
According to statistics, on February 16 last year, after Pinduoduo hit an all-time high of $212.597, the stock price continued to fall. As of the close of trading on March 18 this year, Pinduoduo's stock price was only $42.6, down 73.09% from the highest point, and the market value had evaporated by $212.5 billion, equivalent to 1,351.6 billion yuan.
There is no doubt that with the gradual failure of various fission routines, Pinduoduo has fallen off the altar.
Of course, the top management of Pinduoduo is also aware of this problem - the previous routine of exchanging high user growth through "cutting a knife" has not worked, so in the third quarterly report last year, Pinduoduo announced that it will change its growth ideas, from the past model of relying on marketing and sales investment for growth, switching to relying on increasing technology and agricultural investment for growth.
Since the annual report data has not been released, we do not know whether the change of the model can bring Pinduoduo out of the quagmire.
However, no matter what changes, for an Internet e-commerce platform, the user is always the most important. If we cannot fundamentally change the idea of relying on the "slashing a knife" routine to obtain users, no matter how advanced the technology is and how close the relationship with agriculture is, it will be difficult to change the fate of being abandoned by users and consumers.