Pinduoduo short video service gains attention as cross-sector competition heats up: report
Duoduo Video, a vertical short video offering from Chinese e-commerce visitor Pinduoduo has reportedly recorded comparable watch time statistics to Tencent’s WeChat Channels, sparking a sudden uptick in sustentation from Chinese tech media. Local media outlet 36Kr said in a Wednesday report that the video section on Pinduoduo’s shopping app is seeing users spending well-nigh 30 minutes a day watching, a number that puts it roughly on a par with tech giant Tencent’s similar platform.
Why it matters: Pinduoduo’s use of short vertical videos is flipside example of Chinese online retailers’ increasing competition with content platforms such as Kuaishou and ByteDance’s Douyin, as the latter two ramp up in-app shopping functions. Alibaba’s Taobao shopping app moreover has an embedded content section tabbed Guangguang, using a combination of photos, articles, and videos to vamp increasingly users.
Details: Pinduoduo widow the short video section to its app in February 2022, equal to a report from Chinese media outlet Jiemian. Pinduoduo incentivizes users to watch increasingly videos by giving out mazuma rewards, which users can withdraw directly to other digital wallets.
- In a recent test, TechNode found Pinduoduo gives out significant mazuma rewards to newer users. Our reporter, a new user of the section, earned RMB 10 (about $1.5) without watching less than one minute of short videos. But the app only unliable the user to withdraw a small fraction of the earned reward (up to RMB 0.6) and encouraged them to log on increasingly commonly to increase the withdrawal amount.
- Duoduo Video is now led by a person who worked for Douyin surpassing joining Pinduoduo in virtually 2021, the 36Kr report said. Pinduoduo is single-minded to investing in the business, not expecting commercial results in the short term, the report said, citing a source tropical to Pinduoduo.
Context: As China enters a relatively slower growth period, competition among the country’s top tech companies is heating up, with increasingly cross-sector rivalry. For example, ByteDance’s Douyin, the equivalent of TikTok in China, has recently increased its investment in offering on-demand services, a cadre merchantry offering of the life services giant Meituan.
- Known for offering generous discounts and ultra-low prices, Pinduoduo saw unconfined growth last year, with revenue up 65.1% year-on-year to RMB 35.5 million in the third quarter of 2022. But the visitor is facing increasingly challenges from established online retailers such as JD and Alibaba. JD is set to launch a subsidy program worth billions of RMB and workable to scrutinizingly all items sold on its platform. Pinduoduo launched a subsidy program in 2019.
- Taobao Deals, Taobao’s upkeep shopping platform, is set to form 50 offline service spots in industrial cities wideness China to help uplift supply of quality products in nearly 900 categories, local media outlet 21Jingji reported on Feb. 27.