In the past ten years, with the rapid development of society, major e-commerce platforms have sprung up like mushrooms after a rain, giving consumers a diversified choice and increasing the vitality of the market.
There is one of the most special existences, that is, "fight to buy, cheaper" Pinduoduo, it is a paradise for the poor, things are much cheaper than other platforms, so it is very popular, and the development prospects seem to be very good, but in the past three months, its market value has evaporated more than 300 billion, what is going on?
broke out of the glorious first half of life
In the era when mainstream e-commerce platforms such as Jingdong, Taobao, and Suning Tesco were in power, Huang Zheng was born with his Pinduoduo, squeezed out many platforms, and became the biggest dark horse in the e-commerce field at that time.
The founder of Pinduoduo is a real high-achieving student, who was sent to Zhejiang University, a top university, to study computer science without taking the college entrance examination, which laid a solid foundation for future entrepreneurship.
During Huang Zheng's college years, because of his super computer skills, he often helped major companies or individuals solve various problems, including NetEase.
At that time, NetEase was still a start-up company, and its founder Ding Lei was also a very enthusiastic and ambitious young man who admired Huang Zheng's talent.
After finding Huang Zheng many times to solve their technical problems, the two gradually became good friends who talked about everything, and Huang Zheng ushered in an important turning point in his life.
Huang Zheng has met many successful people in the business world with Ding Lei, learned a lot of entrepreneurial ways and accumulated a lot of contacts, and he also planted a seed of entrepreneurship in his heart.
But Huang Zheng did not start a business during college, but improved his skills step by step, and did what he should do first, otherwise he didn't graduate from college and didn't have excellent technology, so how could he be qualified to talk about entrepreneurship?
He has always been invincible in his studies, and later worked for the world's top Google company, and his future is bright. Huang Zheng was also highly regarded, and was later sent back to China as the head of Google's China office.
But a dinner completely changed him, that is, under the arrangement of his network Duan Yongping, Huang Zheng and the world-famous entrepreneur Buffett had dinner together and talked a lot, Huang Zheng was deeply infected by Buffett, and he also wanted to become a successful entrepreneur like him and Duan Yongping.
So Huang Zheng finally went to the entrepreneurial road in his heart, but everything was difficult at the beginning, Huang Zheng founded "Ouku", Leqi and other e-commerce websites in the early days of entrepreneurship, and also developed many game operation websites, but the results are far less than mainstream websites.
Huang Zheng suffered a great setback, so he sold most of the results, but this does not mean that he has withdrawn from the stage of entrepreneurship since then, but chose to make persistent efforts.
Finally in 2015, the prototype of Pinduoduo "spell good goods" appeared, it broke the business concept of the traditional e-commerce platform, and adopted the integration of entertainment and consumption, so that everyone can choose the group they want to buy things together, the more people, the cheaper the price, and you can also invite others to help you bargain together, just like playing a game.
When people first came into contact with this new shopping experience, they were immediately attracted by Yiying, and their attention shifted from other e-commerce platforms to the Pinhaohao platform.
Later, the merger was renamed Pinduoduo, and in the process, Pinduoduo's users have been soaring, from 300 million in 2018 to 780 million in 2023, and the future can be described as very good.
Pinduoduo has become the third largest e-commerce platform in addition to Taobao Jingdong, Huang Zheng has also become a new rich man, his entrepreneurial dream has finally met his expectations, and he has great ambitions to develop Pinduoduo very well.
Pinduoduo's stock price fell one after another
Unlike Huang Zheng's expectations, Pinduoduo did not continue to move forward in a sweeping trend, but unexpectedly broke up, and since 2024, the stock price has fallen one after another, showing a sharp contrast with the previous prosperity.
In fact, the decline in Pinduoduo's stock price is also expected, but everyone didn't expect it to be so fast, so what is the reason for Pinduoduo?
As early as the first two years, Pinduoduo was successively exposed to stealing personal information, and many users reported that Pinduoduo often opened the auto-start without consent, and also checked their own photo albums, which really makes people shudder to think about it.
And after a lot of comments on Pinduoduo on the Internet, people gradually began to be suspicious, and some unbelievers were determined to leak a lot of their privacy after experimenting with Pinduoduo.
But when I was going to uninstall it, the problem came again, I couldn't uninstall it, and Pinduoduo was forced to install it on my mobile phone, which made many consumers more suspicious of Pinduoduo's misbehavior.
And in recent years, Pinduoduo likes to engage in cash carousel activities during the New Year's holidays, and every time everyone spends a lot of effort and a lot of time, they still get nothing, which is really enough false marketing and enough "lure" people.
At first, people may still be surprised, playful, and full of anticipation, but after each joy is finally disappointed, everyone's hearts no longer have expectations, and even turn into disgust.
And Pinduoduo's jump command is more deadly and annoying than Taobao's, it always pops up a message coldly at every turn, and then you touch somewhere else for it will still bounce to Pinduoduo, often without people's consent on the mobile phone to pop up commodity price reduction, cash red envelopes and other messages.
People may think Pinduoduo is quite new at first, and the price is also the lowest on the whole platform, but a penny for a penny is always the truth, and spending money on ten things in Pinduoduo is not as good as spending ten pieces on other places.
People are also gradually ridiculing Pinduoduo as "Pinduoduo", specializing in counterfeit and shoddy products, and now young people have a good face, and they feel more and more that Pinduoduo can't do it, so even if it is to fight for breath and face, many people don't need to fight for more.
Unless it is to buy some gadgets, such as headbands, socks and other fast-moving consumer goods, the others dare not and do not want to buy on Pinduoduo.
As the saying goes, the fragrance of this wine is not afraid of deep alleys, and in the final analysis, the quality of doing business must be passed, even if others think your price is expensive at the beginning, but after buying it back and feeling the quality in person, people will recognize you, which is why good things have to become brands.
Although small profits and quick turnover is a good marketing idea, but it must not go far, consumer goods still have to rely on quality to win, if a thing is always bought back not long after it is broken, then consumers will not buy things on this platform again.
Therefore, Pinduoduo's stock price has fallen repeatedly, and it is not a sudden upset for no reason.
continued to be in trouble, but netizens said they deserved it
Before the stock fell one after another, Pinduoduo's revenue has always been the leader of major e-commerce platforms, and even in the closing battle of 2023, the revenue has doubled that of 2022, making a lot of money.
Pinduoduo has been driving straight into the market, and its market value even surpassed that of Alibaba, a leading e-commerce company, and has become a frequent visitor to major financial pages.
But the good times don't last long is that after entering 2024, Pinduoduo's stock price has been falling, evaporating 317.5 billion in three months, and the average market value of billions will evaporate every day.
But when netizens saw these huge losses, they all said that this was all Pinduoduo's own doing, and they really deserved it, how could they go far by dumping irregular low-priced goods?
It does not innovate, nor does it effectively protect the legitimate rights and interests of consumers, and in the face of many product quality problems, consumers themselves feel that there is no need to pursue them, after all, the price is there.
But this kind of inactive behavior is a big break in the hearts of consumers, they will not buy Pinduoduo in the future, here nine nine there a few together can also buy a good quality thing, there is no need to buy a bunch of fleeting things for the so-called saving money.
At present, major platforms have added their own shopping functions, such as Xiaohongshu, which can also be shopped, and people have more choices, and the heart of Pinduoduo is made up for in other places.
In particular, Douyin is very popular, many people watch the live broadcast room every day, and buy the corresponding goods, although it was a lively watch at the beginning, but after the introduction of the anchor's passion, they were also infected, and then placed an order with passion.
Although many top anchors have overturned in recent years, people still have not lost confidence in live broadcasting, and still regard buying things in the live broadcast room as a consumption habit.
So Pinduoduo is even more dispensable, unless Pinduoduo makes something more beneficial to the people and a major rectification of commodity quality, otherwise it is difficult to return to the peak, and it can only continue to fall like this.
epilogue
Things must be reversed, this is the truth that countless ancestors have tried for us since ancient times, Pinduoduo from the birth to the later can briefly surpass Alibaba, in the eyes of everyone is a good future, but the business problems are only its own clearest, sooner or later it will become a big thunder that detonates their future, a company wants to be evergreen, it must adapt to the market, adapt to consumers, can not insist on walking the right road.
There will be thousands of e-commerce platforms without one e-commerce platform in society, so people don't have much feeling about the decline in Pinduoduo's stock price, and Pinduoduo must find the root cause of the problem and solve it in order to stop the crisis.