Douyin, Pinduoduo Rival China’s E-commerce Giants
Data Snapshot China’s e-commerce sector is undergoing a transformation, with emerging platforms such as Douyin and Pinduoduo rapidly outpacing traditional giants like Tmall and JD.com. While traditional platforms registered a modest growth of only 5% in gross merchandise value (GMV) in 2023, according to Oliver Wyman, emerging platforms surged ahead with a striking 30% growth. This … Read more