According to reports, on November 28th, Pinduoduo released its financial report for the third quarter of 2023. The financial report showed that Pinduoduo Group’s revenue in the third quarter of this year was 68.84 billion yuan, an increase of 93.9% over the same period of last year. Among them, online marketing services and other income was 39.69 billion yuan, a year-on-year increase of 39%; Revenue from trading services was 29.15 billion yuan, up 315% year-on-year. It is reported that the important reason for the rapid growth of the group’s revenue in the third quarter is its cross-border e-commerce platform Temu.
Temu, a cross-border e-commerce platform owned by Pinduoduo Holding Co., Ltd., has a sales volume of over US$ 5 billion in the third quarter of 2023, and its GMV even reached US$ 80 million in a single day. At present, Temu has entered the e-commerce market in 47 countries, and occupied the first position of client downloads in many countries. According to the analysis of many media, Temu’s success overseas is mainly due to its huge marketing investment, such as the $7 million they spent on 30-second advertisements during the last Super Bowl. According to the latest news from Reuters, Temu plans to put another 30-second advertisement in the American Super Bowl on February 11th, 2024.
According to informed sources, e-commerce platform Temu has promised to buy multiple advertising units during the Super Bowl on February 11th. For the second year in a row, Super Bowl audiences will hear the voice of one of the fastest growing retail enterprises in China. This plan is a huge investment for Pinduo. Temu has covered online advertising channels this year, and now it is seeking to make a greater sensation in the traditional advertising field by purchasing commercial time during the Super Bowl again.
Post time: Dec-01-2023