Latepost exclusively learned that pinduoduo is preparing a cross-border e-commerce platform, and the application is expected to be launched in mid September. The first stop is the United States. The model will follow the example of China’s largest independent cross-border e-commerce station, Shein, which is attracting investment in all categories.
This is considered as one of the most important strategic projects of pinduoduo. Many first-level directors of pinduoduo’s most important strategic project, the community group purchase business “buy more vegetables”, have been transferred to take charge of the specific matters of the sea going project.
Although it is not explicitly stated, pinduoduo internally defaults that the leader of the sea going project is pinduoduo coo Gu Pingping (flower name: Abu). After pinduoduo’s first stop in the United States, it has been determined that Zhao Jiazhen (flower name: winter jujube) and grape (flower name) who were previously in charge of many provinces and regions of pinduoduo have been responsible for the investment promotion of the American market. The advertising promotion of new applications is still led by Wu Yao (flower name: Sakura), the growth leader of the main station, and Liu Xinqi (flower name: Zicheng) is responsible for the supply chain. This line-up is a collection of “vegetable buying heroes” and “company elders”.
Since May this year, nearly 80 supply chain employees of pinduoduo have moved to Panyu, Guangzhou, which is also the starting point for Shein to build a clothing procurement supply chain. Similar to Shein, the seller of pinduoduo cross-border platform only needs to be responsible for putting the goods on the shelf and delivering the goods to the domestic warehouse designated by pinduoduo, and the platform will select, price and perform the contract.
Similar to the way in which pinduoduo’s main station initially attracted small and medium-sized businesses, pinduoduo’s cross-border platform also offered merchants a discount of “0 yuan for settlement and 0 deduction”. A person close to Amazon’s seller said that the settlement cost and sales volume of Amazon’s platform were very high, and merchants using a full set of Amazon warehousing and logistics would be deducted 30% of their income.
In the past four quarters, pinduoduo has significantly reduced its domestic e-commerce business investment and continued to make profits. Entering the global market is the best choice for pinduoduo and almost all other Chinese Internet companies.
Pinduoduo, which was launched in 2015, relies on the logistics infrastructure of Alibaba Cainiao, the traffic of Tencent wechat, and the introduction of low-priced white brand products abandoned by Taobao tmall. It has met the consumption needs of hundreds of millions of people along the proven path, and has become an e-commerce giant with a commodity turnover of 2.4 trillion yuan in only six years.
Cross border e-commerce also has a ready-made target to follow. In the past decade, Shein, a women’s clothing maker, has gradually made consumers in Europe, the United States, the Middle East and other markets accept the consumption mode of buying cheap clothes across the country. Now it is transforming into a full category e-commerce.
Half a year secret preparation
Latepost previously reported that pinduoduo, which has set a record for the speed of listing,
Now, cross-border projects have become the new “touchstone” of pinduoduo. The heads of provinces and regions that encourage people to buy more vegetables sign up for cross-border projects. One provincial and regional head can take five employees with him. It is required that the employees should stay in Duoduo for a whole year. When the heads of provinces and regions officially enter the overseas market, the regions that buy more vegetables will be further merged.
In the cross-border projects, Zhao Jiazhen and grape (flower name), the two first-level directors in charge of the investment promotion in the US market, had taken over more than three provinces and regions in Duoduo shopping before, while Liu Xinqi, the head of the supply chain, was the head of the supply chain of the main station and shopping. On the day of the sixth anniversary of pinduoduo last year, although there was no celebration at the jinhongqiao center of pinduoduo headquarters, and Huang Zheng did not speak again, the company showed a short film to the employees of the vegetable buying business. The content was that the heads of the provinces and regions with outstanding performance shared their experiences. Zhao Jiazhen and grape (flower name) both spoke as the concluding remarks.
After Duoduo bought vegetables, pinduoduo has not launched any new business that inspires employees and the market. Cross border projects also made many employees excited again.
At present, only the employees at the supply chain end are fully engaged in the cross-border project, and the employees involved in the other main stations are equal to “working two jobs”.
The cross-border project is called “project X” internally, and the progress is highly confidential even internally. This is consistent with the consistent style of pinduoduo. The heads of each business line only need to focus on the business they are responsible for, and the grass-roots employees only need to complete the assigned work indicators. Few people can piece together the company’s business profile, thus making the business highly confidential.
The first stop is the United States
Why did pinduoduo choose the United States as the first stop? The United States has been the country with the largest total consumption in the world for more than 100 years, which has obvious attraction. There are trillion dollar consumer companies like Amazon in the United States, but only 14.2% of Americans’ consumption in 2021 was placed online, and 24.5% in China in 2021. In addition, latepost learned that Ping Ping Gu said internally that the e-commerce competition in the Southeast Asian market was too fierce.
In a research report in April this year, CICC cited emarket’s statistical caliber. The online consumption habits caused by the epidemic are extremely sticky. The sales scale and penetration rate of retail e-commerce in the world and the United States in 2020 have significantly increased year-on-year. By 2025, it will almost show a straight-line upward trend. Emarket estimates that the market scale of U.S. e-commerce in 2025 will reach $1.61 trillion, and the compound growth rate from 2020 to 2025 will exceed 15%, faster than the global market.
The U.S. e-commerce market is decentralized, with Amazon accounting for 41%, and Shopify accounting for 10.3%; The third place was Wal Mart, with 6.6%, the fourth place was eBay, with 4.2%, and the fifth place was apple, which basically only sold expensive own brand electronic products.
Amazon is the daily consumption of middle-class families in the United States. At present, nearly half of them are in the United States
The four major carriers, USPS, UPS, FedEx and Amazon logistics, accounted for 98% of the parcels in the United States. The cost of American express delivery is about US $12. In order to improve the unit price and control the logistics cost, Shein requires consumers to purchase more than US $49 before providing parcel service. If we also cut in with cheap goods, pinduoduo will also face the problem of how to increase the customer unit price and reduce the logistics cost.
At present, it is not clear which logistics parties pinduoduo will cooperate with in cross-border transportation. One fact is that on August 5, Jitu express announced that it signed a strategic cooperation framework agreement with HNA cargo, which has resource advantages in Southeast Asia, Europe and America and other international routes. Before this, Jitu has covered 13 countries and regions including Asia, Latin America and Africa with terminal express. The cooperation with HNA has made cross-border business in European and American markets possible. It took only two years for Jitu, which entered the Chinese market in March 2020, to enter the first echelon of private express delivery in China. 90% of its parcels once came from pinduoduo. The second cooperation between the two in the European and American markets is not unexpected.
In this trip to the United States, pinduoduo’s first investment category is also its best domestic and low-cost daily necessities, home textiles, etc. And Shein has already verified in the United States the attractiveness of these commodity features of “fast updating, low price and numerous choices” to consumers in mature markets.
Latepost learned that in 2021, the US market and the European market accounted for about 25% of Shein’s annual sales of US $20 billion. From the perspective of user base, customer unit price and re purchase rate, the European and American markets are the most important markets of Shein and the first markets covered by pinduoduo.
However, pinduoduo needs to build a large-scale e-commerce platform, and the investment is much larger than that of Shein.
There is no ready-made cheap traffic waiting to buy more. In 2011, Shein was the first company to use the social network KOL. In 2013, it became the first user of pinterest, which is also the initial stage of Facebook’s social marketing bonus period. Now, 70% of consumers spontaneously search Shein and enter the website.
In the US market, there are two main types of advertisers, one is Google keyword search, and the other is social media represented by Facebook. A cross-border practitioner said that taking the United States as an example, CPS (user cost per order) is about US $20, similar to that in Europe, and US $5-8 in Southeast Asia.
A person close to pinduoduo said that Huang Zheng’s way of thinking is to “dare to serve the world”. All businesses under pinduoduo – wechat community group buying small program, fast group learning is group connection, community group buying more food learning is Xingsheng optimization, and now the cross-border overseas project is learning Shein – “verify others run”
Pinduoduo launched its cross-border e-commerce platform in September, with its first stop in the United States
亚马逊是美国中产家庭日常消费所在，目前近半数美国家庭每年向亚马逊支付 139 美元成为 Prime 会员，享受商品隔日达。根据 Pitney Bowes 发布的数据，2021 年亚马逊在美国包裹量 84 亿个，其中 48 亿个包裹由亚马逊物流交付。
为了提供极速送达，亚马逊以至少 15 美元的时薪在美国雇用了上百万仓储、物流工人（若每周 40 小时不加班，工人月薪折合超过 1.7 万元人民币），这意味着亚马逊无法做到极致低价。根据 2021 年财报，亚马逊物流交付的商品中，物流成本占商品价格的 27%，而在国内提供类似物流体验的京东，其自营商品的物流成本占商品价格的 6%。
排名第二的 Shopify 同样偏向中产及以上人群的消费。不是一个电商平台，主业是为有品牌力和产品力的消费品牌建电商网站。美国消费者更注重差异化、定制化的产品，更看重品牌，有通过浏览器和搜索引擎访问网站的习惯。Shopify 为品牌提供了不同于淘宝、拼多多、亚马逊的购物体验，让品牌可以不被卷入亚马逊平台上的残酷价格战。新锐鞋服品牌 Allbirds 就一路使用 Shopify，目前已经上市，也从不在亚马逊卖任何商品。
更便宜的商品是显而易见的切入点，也是 SheIn 能在美国立足的原因。
SheIn 于 2012 年放弃婚纱业务，全力转做跨境女装，率先进入美国市场，主打价格低廉、上新快且量大的女装。目前该平台的主品牌 SheIn 每款价格在 10 美元 – 15 美元，旗下高端女装品牌 MOTF 则为 20 美元-40 美元，平台还有宠物品牌 PetsIn 等，SHEGLAM 则为其美妆独立站品牌。
eMarketer 今年年初公布的数据显示，SheIn 在美国市场的下载榜排名从 2020 年的第 7 名上升至第 2 位，下载量为 3200 万次，同比上涨 68%。研究机构 Earnest Research 的数据则显示 2021 年上半年 SheIn 在美国快时尚市场的份额占比已达 28%。
SheIn 卖到美国的商品发货周期为 8 天-12 天。SheIn 物流模式为国内直发，全部走空运，海外仓库不发货只允许退货，退货产品会进入二次销售。SheIn 在每个国家都有诸多物流合作方，合作模式为货代模式，物流费用合作商会出，合作商向 SheIn 通报海外通关等相关操作费用。
USPS、UPS、联邦快递和亚马逊物流这四大承运商揽下了美国 98% 的包裹。美国发快递每单成本约 12 美元，为提高客单价和控制物流成本，SheIn 要求消费者购物满 49 美元才提供包邮服务。倘若同样以廉价商品切入，拼多多也面临如何提高客单价、降低物流成本的问题。
目前尚不清楚拼多多会和哪些物流方合作跨境运输。一个事实是，8 月 5 日，极兔速递宣布与海航货运签署战略合作框架协议，后者在东南亚、欧美等国际航线具备资源优势。此前极兔已将末端快递覆盖亚洲、拉美和非洲在内的 13 个国家和地区，与海航的合作使得欧美市场的跨境业务有了可能性。2020 年 3 月才进入中国市场的极兔仅花了两年时间就踏进中国民营快递的第一梯队，它 90% 的包裹一度来自拼多多，两者在欧美市场二次合作也不意外。
此次出海美国，拼多多首先招商的品类也是其在国内最为擅长的、价格低廉的日用百货、家居家纺等。而 SheIn 也早已在美国验证了 “快速上新、价格低廉、选择众多” 这些商品特征对成熟市场消费者的吸引力。
《晚点 LatePost》了解到，2021 年 SheIn 全年 200 亿美元的销售额中，美国市场和欧洲市场各自占比约 25%。从用户基数、客单价和复购率来看，欧美市场都是 SheIn 最重要的市场，也是拼多多出海首先覆盖的市场。
只不过眼下拼多多要新建一个体量庞大的电商平台，投入要比曾经的 SheIn 大得多。
没有现成的便宜流量等着拼多多，SheIn 在 2011 年就是第一波使用社交网络 KOL 的公司，2013 年还成了 Pinterest 的首批用户，这也是 Facebook 社交营销红利期的起步阶段。现在，70% 的消费者是自发搜索 SheIn 并进入网站的。
在美国市场，广告主投放主要有两类，一是 Google 关键词搜索，二是 Facebook 为代表的社交媒体。一位跨境从业者表示，以美国为例，CPS（每订单用户成本）约 20 美元，欧洲情况近似，东南亚则为 5 美元-8 美元。
一位接近拼多多的人士表示，黄峥的思考方式是 “敢为天下后”，拼多多旗下的各业务 —— 微信社群团购小程序快团团学的是群接龙，社区团购多多买菜学的是兴盛优选，现在跨境出海项目学的是 SheIn —— “验证别人跑通过的，直接砸钱进去，还是有机会的。”