#财经新势力#
Pinduoduo, who punched Amazon in North America, finally extended his hand to his neighbors Japan and South Korea.
Last month, the overseas version of Pinduoduo Temu was launched in Japan and South Korea APP stores. But unlike the popularity in the North American market, Temu has a mediocre response in Japan and South Korea, relying on the "one trick fresh" Pinduoduo, "chopping a knife" does not work this time?
Conquering North America: "A knife" has attracted hand-to-hand combat from overseas e-commerce
Since landing in the North American market in September last year, Termu has become the first brother of APP stores, and overseas head e-commerce companies such as Amazon and Shein have been trampled underfoot. What is the magic of this mysterious force from the East?
The answer is still a knife, Temu's slogan is "Team Up, Price Down", which translates to more people, the cheaper, or a familiar recipe, a familiar taste.
However, foreigners who have never seen the big world are flocking to this, especially in the context of high inflation overseas, low prices have become the most attractive factor for customers.
Amazon, which caught fire in the backyard, quickly rolled up its sleeves and went down: first bayonet inward, large-scale layoffs to reduce costs and increase efficiency; Then cut the price, discount, find the same model and other tricks.
Merchants fight the method, consumers are naturally happy to see it, onlookers and shopping are not delayed, Termu follows the trend to expand the results again.
Another leading e-commerce company, Shein (also a Chinese company), chose to tear up with Temu in court: Shein sued Temu for using Internet celebrities to discredit himself, and Temu sued Shein for violating antitrust laws.
The two sides went back and forth, pulling their hair and tearing their heads in the mall, while sitting in front of the courtroom, indicating that they were victims.
Why are overseas e-commerce so nervous? Ostensibly frightened by Temu's speed, it is actually a fear of the "countryside encirclement of the city" model.
In the Chinese market, Pinduoduo's example of completing a counterattack by sinking the market can be replicated in North America.
If it is allowed to become bigger, then at the speed of Pinduoduo, it is not impossible to plant the big banner of North America as a rudder throughout the American continent within three or five years.
At present, Temu's hand-to-hand combat with the giants in North America is still continuing, and it will take time to test who will not be able to survive the first fall.
Entering Japan and South Korea, the recipe has not changed, but the taste has changed?
"Up to 1 fold!" "A coupon for 37,000 (won, about 200 yuan) for new members!" On the first day of landing, Temu gave enough sincerity, but lost money, but did not earn money.
Consumers in Japan and South Korea are surprisingly calm, is the people of Japan and South Korea too rich to look at these three melons and dates?
Not really, in the case of Japan, for a simple reason: too many offline stores are too cheap.
Similar to domestic family stores, 711 and other 24-hour supermarkets, convenience stores, you can meet one in Japan fifty or sixty meters. And the price is the same as online, and some are even cheaper.
In addition, a large number of 100 yen (yen) shops in Japan are completely offline versions of Pinduoduo, similar to snacks, daily groceries, etc., are 100 yen a piece, equivalent to six or seven yuan in China.
Therefore, Temu's low-price tactics seem sharp, but in the face of Japan's complete offline retail system, there is still a feeling of iron fists smashing on cotton.
Subsequently, Pinduoduo changed its previous high-profile style in Japan, and the usual fancy propaganda disappeared. At the operational level, there is not even a preparation for investment managers. This also left everyone in suspense: Is it to throw stones and ask for directions, and if you can't fight, retreat? Or quietly enter the village, don't shoot the one?
In South Korea, Pinduoduo's biggest rival is AliExpress, but it also has a vest: Alibaba's cross-border e-commerce.
After Jiang Fan led Alibaba's overseas e-commerce team in 2022, AliExpress made a heavy bet in South Korea. Pinduoduo came to South Korea to plant the flag at this time, and the other party was already waiting for it.
In terms of hardware, AliExpress has built preferred warehouses in Yantai, Weihai and other cities close to South Korea to ensure logistics speed; On the software, policies including 3-5 days delivery, free shipping, free returns and other policies have been launched, and the ultimate service has quickly occupied the market.
Alibaba's investment has also achieved good results: Koreans have used AliExpress for more time than South Korea's local e-commerce giant Coupang.
In addition to Alibaba, other overseas e-commerce giants such as Auction and eBay have long been king in South Korea.
Pinduoduo wants to roll with them, and it really needs to be done hard.
In addition to "slashing a knife", there are other tricks
In addition to the special situation of the Japanese and South Korean markets, the model that Pinduoduo relies on "subsidizing blood transfusion to create a low price - grabbing the market at a low price" is not a long-term solution after all.
In fact, while Temu's "chopping a knife" harvests traffic in the United States, it also has to face the embarrassment that the mid-to-high-end market is difficult to shake.
Amazon claims that the basic plate of its business, the mid-to-high-end group represented by the middle class in the United States, has not been greatly affected by Temu.
In North America, Temu has quietly changed its tagline to "Shop like a billionaire": buy like a tycoon.
Does this mean that Pinduoduo's strategy has changed? We don't know yet, but in the face of overseas giants such as Amazon, which has been deeply cultivated in the local area for many years and has taken advantage of the time and place, if you want to take root overseas, it is obviously not enough to walk on one leg at a low price.
In terms of technology, supply chain, logistics, consumer stickiness, etc., Pinduoduo still needs to do a lot of work, only in this way can it stand firm, otherwise the tide will recede, and naked swimmers will only be embarrassed.
In the face of the Japanese and South Korean markets, Pinduoduo obviously urgently needs to change its tactics, after all, e-commerce has become a general trend, one step behind others, may lag behind others every step.
Epilogue:
We have seen the great power of "chopping a knife" in the domestic and North American markets, but Pinduoduo's unsatisfactory water and soil in Japan and South Korea also shows that the business model is not simply copy and paste.
Even if you have achieved great success in the past, you should still do a good job of research before dealing with new markets.