On April 27th, Fan Jiezhen, co-founder of Pinduoduo, announced that Pinduoduo will invest a total of 4.5 billion yuan in consumer subsidies this year to help promote consumption activities during the 5th Shanghai May 5th Shopping Festival. Data shows that in the past three years, Pinduoduo has cumulatively invested over 12 billion yuan in consumer subsidies for the May 5th Shopping Festival.
It is reported that this year is the fifth consecutive year that Pinduoduo has participated in the Shanghai "55 Shopping Festival", and its investment has been increasing year by year. To help the "May 5th Shopping Festival" gain popularity, this year Pinduoduo will not only set up an activity zone and collaborate with the Central Radio and Television Station to carry out a special live broadcast, but also launch the platform's first "New Product Launch Season" activity, working together with well-known brands in categories such as home appliances, beauty, sports, stationery, food, etc., and striving to create a platform characteristic of the launch economy.
"The 'May 5th Shopping Festival' is not only for Shanghai, but also for the whole country," Fan Jiezhen said. "We hope to establish ourselves in Shanghai and radiate to the whole country, so that consumers from all over the country can participate in this wonderful consumption feast."
It is reported that high-quality consumption is also one of Pinduoduo's key tasks this year. Previously, Zhao Jiazhen, Co CEO of Pinduoduo, stated, "2024 is the Year of Consumer Promotion. We will continue to focus on serving consumer needs, enriching product types and service forms, improving quality to price ratio, optimizing shopping experience, strengthening user engagement, and providing more opportunities for high-quality businesses to be seen and recognized by consumers, consolidating the positive cycle of the platform ecosystem."