Amazon may be the e-commerce leader in Europe, but Chinese companies like Pinduoduo and Temu are rapidly closing the gap. By 2024, Pinduoduo is projected to be just 13% behind Amazon in gross merchandise volume, a significant shift from 2019 when Amazon's volume was more than double that of Pinduoduo. The Temu app, launched in the U.S. in 2022, quickly rose to the top of the download charts, and PDD Holdings, which oversees both platforms, reported a staggering 90% sales growth in 2023. As these competitors surge, the future of e-commerce could look very different.
Amazon leads the European e-commerce market, but Chinese companies entering the global e-commerce space, including AliExpress and, more recently, Temu, have gained traction.
The infographic that follows, courtesy of Statista's Anna Fleck, examines the Chinese startup Pinduoduo in particular and uses data from the eCommerceDB.
Based on these statistics, Pinduoduo's gross merchandise volume in 2024 will only ...
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