"Boss Lee, you're amazing. You're not only giving away 100 million yuan, but you're also launching WeChat payments. You're stealing our e-commerce business."
"Huang Zheng, don't give me that. Pinduoduo isn't taking advantage of us for nothing."
"We're not taking advantage of you for nothing. Boss Lee, you extorted a lot of money from me when we first worked together."
"What extortion? Think about it. It's not easy for us to launch this campaign. 2 billion USD. Why don't you try spending 2 billion USD?"
"Fine, fine, fine. You're amazing. Next, it's up to us. "
After the launch of Huanyu Technology's instant messaging service, WeChat, their e-commerce business was on the right track.
Pinduoduo was an e-commerce platform launched by Huanyu Technologies.
Pinduoduo instantly gained popularity through WeChat's money-grabbing campaign.
Especially the series of coupons that were sent out crazily. With the intention of not using them, the entire e-commerce platform's turnover exceeded 2 billion USD as soon as Pinduoduo was launched. It could be said that the group of WeChat users spent their money the same way they snatched it.
Later on, the group of users realized that they were tricked by Huanyu Technologies.
But so what if they were tricked?
They did it willingly.
Although they spent their money, they had to admit that Pinduoduo's products were really cheap.
For example, clothes. Usually, they bought clothes for around 50 USD. On Amazon, it was 40 USD.
But on Pinduoduo, it was 20 USD. Some were only 10 USD, and some were even less than 10 USD.
As for daily necessities, they were even cheaper. Orange juice was 3 USD. On Pinduoduo, 2 USD was enough.
Eggs were 2 USD for 12. On Pinduoduo, it was 2 USD for 24.
Apples were 1 USD per kilogram. On Pinduoduo, it was 1 USD per kilogram.
Potatoes were 2 USD per kilogram. On Pinduoduo, it was 1 USD per kilogram.
Basically, as long as you bought it, Pinduoduo's price would be half of the real price. Some were even lower.
With this advantage and WeChat's popularity, Pinduoduo became a hit.
This also made Amazon's CEO and founder, Jeff Bezos, end his holiday and return to the company's headquarters immediately.
"Give me a detailed report on Pinduoduo."
Jeff Bezos was the founder of Amazon.
The Amazon here was not Amazon China.
Amazon's e-commerce business in China naturally could not compete with Huanyu Technologies.
But Amazon's position in the global e-commerce industry has always been number one.
Even though Huanyu Mall and Huanyu Department Store were doing well in China, Amazon was still the global leader in e-commerce.
In Feng Yu's previous life, the founder of Amazon, Jeff Bezos, was wealthier than Bill and Warren Buffett.
Even though he divorced his wife and took away more than 66 billion USD, Jeff Bezos was still the richest man in the world.
It had to be said that Amazon shares had a huge impact on Bezos' wealth.
In Feng Yu's previous life, Amazon's market value had exceeded 150 million USD, while Apple's market value was only around 2 trillion USD.
From this, one could see how terrifying the size of the Amazon was.
Although in 2006, the Amazon was not the Amazon of the future, and he did not appear to be so terrifying. However, as Yahoo and the US's e-commerce business declined, China's e-commerce business did not expand overseas, and they had recently left their main competitor, eBay, in the dust. It could be said that Amazon no longer had any rivals. Because of this, Jeff Bezos had the time to prepare for his vacation.
But he did not expect that halfway through his vacation, an e-commerce platform called Pinduoduo would suddenly rise.
In fact, Jeff Bezos already knew that Huanyu Technologies had plans to launch an e-commerce business overseas.
This was something that could be expected.
Huanyu Technologies created a video website, a portal, and instant messaging in North America.
Then, the next step would be e-commerce.
But a plan was one thing, and whether or not it could be carried out was another.
Plus, even if Huanyu Technologies wanted to launch an e-commerce business overseas, it would take at least a few years.
But reality gave Jeff Bezos a vivid lesson.
Their Pinduoduo was only online for less than a month, and the number of visitors had exceeded 100 million.
Although a considerable portion of the visitors were converted from WeChat.
Some of them did not buy anything, and some of them just clicked in by accident.
But this did not matter.
With a huge traffic entry point like WeChat, Pinduoduo had a chance to enter the market.
"Mr. Bezos, this is Pinduoduo's information. We've studied Pinduoduo. This e-commerce platform mainly uses WeChat as a traffic entry point to guide traffic. It's targeted at mid-to-low-end consumers. The products on their platform are generally cheaper, even half the price of real products. There are often many popular products, and some prices are even 50% off real products. "
"Well, they want to use low prices to retain consumers."
Jeff Bezos said disdainfully.
Although this strategy wasn't very smart, consumers were still very receptive to it.
In particular, some of the prices were ridiculously low, which attracted a lot of consumers' interest.
Then again, Bezos couldn't help but admire Huanyu Technology for being so accurate in their positioning.
Take the United States as an example. Although the United States was a developed country with high per capita consumption, it was still relative. However, no matter how high the per capita consumption was, it was still relative. Many users' daily expenses were also very high, and there were even many families that did not have a lot of money. And this group of people was not small. Huanyu Technologies directly connected the business to them, which directly pushed the entire market into a sinking market, and instantly gained the support of a group of mid-to-low-end consumers.
"Yes, Mr. Bezos, we also analyzed it this way. But there's a shortcoming in this way, that is, the price of the general products is low. Basically, the sellers can't make money, and some even lose money. From the looks of it, the sellers are still selling products. It should be Pinduoduo's official site that subsidizes these sellers. "
This was very common in the early stages of marketing. Amazon did this in the past.
They also used low prices to attract consumers.
But after they set up the market, the prices returned to the original.
"How long can they subsidize?"
"It's impossible to predict."
The assistant shook his head and then analyzed, "But judging from the $100 million, Pinduoduo should be prepared."
"Haha, looks like they're going to eat us."
Jeff Bezos sneered.
He naturally knew the scale of Huanyu Technologies. Under normal circumstances, he did not want to fight with Huanyu Technologies.
Fortunately, Huanyu Technologies and Amazon did not have much business competition before.
But since they had met today, Jeff Bezos was not a coward. After thinking about it, Jeff Bezos immediately said, "We'll set up a special price area for Pinduoduo's low prices. I want to see how much they can subsidize."
(End of Chapter)
You've already exceeded your reading limit for today. If you want to read more, please log in.
Login
Select text and click 'Report' to let us know about any bad translation.
