Online marketing mainly represents the domestic main site business, and the growth rate has dropped to 29.5%, which basically means that the growth rate of the domestic main site GMV is around 30%.
According to LatePost, the GMV growth rate of Pinduoduo's main country code philippines mobile e-commerce site was below 30% in each quarter in the first half of the year. Due to strong investment by competitors during major promotions such as 618, Pinduoduo's GMV growth rate in the second quarter was lower than that in the first quarter. Prior to this, Pinduoduo had maintained a GMV growth rate of more than 40% for a long time.
Combined with Alibaba's GMV growth rate of nearly 10% this quarter, it can be seen that as the price war among companies intensifies, Pinduoduo's leading advantage in domestic growth rate over other companies is gradually decreasing.
After Douyin made GMV growth the focus of its second half of the year and Taobao made GMV the most important business indicator, major platforms turned to pursue the strategic turning point of GMV, indicating that the retail industry has returned to the fundamental competition for market share.
Pinduoduo has also adjusted its business focus from pursuing commercialization and increasing profits to putting GMV back as the first goal. This means that Pinduoduo no longer pursues higher monetization rates brought by absolutely low prices.