A new cross-border trend is coming! We will further expand into the North American market

Recently, people in the cross-border circle have been paying attention to the news that Pinduoduo is developing cross-border business. Now Pinduoduo has officially announced this matter and started to attract investment from Chinese sellers!

It is reported that the first batch of Pinduoduo's cross-border platform investment plans involve a wide range of categories, such as clothing and shoes, luggage, maternal and child and children's clothing, sports and outdoor, 3C digital, small household appliances, etc., a total of 15 major categories of products can be settled in.

Moreover, Pinduoduo's current investment policy shows that merchants do not need to pay any settlement fees or sales commissions. However, considering the common practices of domestic e-commerce platforms, a deposit for opening a store is essential. If an order is refunded or compensated but the seller runs away, deductions must be made from the deposit to ensure that the platform does not lose too much due to the seller's running away. An amount ranging from one thousand to three thousand or even higher is possible. This part of the deposit must be determined based on the seller's situation.

Pinduoduo also has relatively high requirements for the first batch of sellers. Among the conditions disclosed to the public, there are the following:

1. Have a team and ability to develop, design, produce and shoot;

2. Source factories or traders that can guarantee production capacity, product quality, and stable production and inventory

3. Priority will be given to those who have experience in cross-border e-commerce platforms (such as Amazon, Walmart, AliExpress, SHEIN, Etsy, eBay, Shopee), and those who have experience in independent websites

4. Suppliers with experience in the North American market are preferred.

From the requirements, we can see that, unlike the previous media speculation that Jitu Logistics would deploy in Southeast Asia, this first wave of investment promotion is targeting developed markets such as North America. Qualified sellers can prepare their materials! (If you need to connect with the official investment promotion staff, you can add my WeChat ID: kuajingzheg1)

Pinduoduo is also developing cross-border business for its own reasons. In the Q1 financial report released by Pinduoduo in May this year, it showed that its monthly active users were 751 million, a year-on-year increase of 4%, and the number of annual active buyers reached 881.9 million, a year-on-year increase of 7%. For such a large scale, it is not easy for Pinduoduo, and it has clearly seen a downward trend. Liu Jun, vice president of finance of Pinduoduo, once publicly stated, "At the current scale, we will inevitably see a slowdown in growth." The cross-border North American market is the next bet for Pinduoduo's market growth.