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The Meteoric Rise of Temu and Pinduoduo—and What Might Finally Slow Them Down
The retail apps have exploded in China and internationally thanks to bargain-basement pricing. But a potential import crackdown from the US and other countries could slow the momentum.
Tsai didn’t mention Pinduoduo by name, but from its beginnings, the shopping platform has never made the merchant its focus like Alibaba did: It has always prioritized getting the user the lowest price online. The platform is also edging into territory traditionally occupied by its competitors by welcoming dealers for established brands like Apple and Louis Vuitton. In August, South Africa announced it would introduce a value-added tax on imported low-value goods, which had previously enjoyed a concession.
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