PINDUODUO. Wholesale in retail: Huge orders means extremely low prices for groups.
A Chinese e-commerce platform that allows users to participate in group buying deals. Pinduoduo’s twist lies in its integration of social components into the traditional online shopping process, which the company describes as the “team purchase” model.
By sharing product information on social networks such as WeChat and QQ, users can invite their contacts to form a shopping team to get a lower price for their purchase. The mechanism keeps the users motivated and better hooked for a more interactive and dynamic shopping experience.
Video from Fortune Magazine Youtube.