— ByteDance and Pinduoduo are launching e-commerce websites to rival Amazon.
— ByteDance could leverage TikTok’s usership to boost If Yooou early users.
— Pinduoduo e-commerce experience could help Temu succeed in the US.
Chinese giants ByteDance and Pinduoduo are launching e-commerce websites to rival Amazon. According to CNBC, Pinduoduo already set up Temu, a shopping destination for fashion, sports and electronics lovers. Meanwhile, ByteDance unveiled If Yooou, targeting fashion shoppers.
Given ByteDance’s success with TikTok, Amazon would do well to be weary. While Pinduoduo has not demonstrated what it can do when facing opposition on foreign terrains, it has already made its name as an e-commerce service, so, the game is not so new.
Although Amazon still holds majority of the e-commerce market worldwide, and especially in the US, it has to sleep with one eye open. Already, foreign competitors like Alibaba, JD.com, and Shein have shown the stuff that they are made of.
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Yet, analysts still predict that it would be a long time before all the rivals can threaten Amazon’s place at the top. First, the newer brands will have to build trust.
Pinduoduo’s Temu will allegedly attempt to break into the market through direct links with suppliers and big discounts.
As for If Yooou, it has a massive advantage given sisterly relationship with the viral app TikTok. Experts believe that the new e-commerce site will use the customer behaviour that TikTok has gathered to undersstand its market. Additionally, ByteDance could marry If Yooou to TikTok’s shopping feature to help it quickly gain its first millions of customers.
The last thing that Amazon hoped for was a new competitor as its capitalisation took a dive in 2022 due to changing shopping behaviour, post-pandemic.
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