Beware of Pinduoduo: the popular group shopping app from China has found its way to profit. This way, it is firmly in the saddle to soon conquer Western markets as well – starting with the United States.
New sources of income
Pinduoduo, the app that made social e-commerce and group purchases big in China, is impressing with solid quarterly results. After a spring full of lockdowns and Covid restrictions in China, consumer confidence recovered in the second quarter and the shopping platform visibly benefited as a result.
