Do listen to this video first.
We discovered Pinduoduo just a few weeks back. Since then we have been buying quite a few of our regular items from Pinduoduo. Regular items means detergents, tissues, utensils, multi use plastic bags (with good quality tie string), aluminium foil, baking paper, Bluetooth ear piece for my phone, stainless steel pastry cutter, stainless steel pouring funnel, mops, phone charger, coat hangers, computer tablet stand, large glass jars, glass bottles and some more.
You will not believe this but most of these items cost below RM4.00 (FOUR RINGGIT). The phone charger was RM15.00. The Bluetooth phone ear piece was by Lenovo which they sold for RM1.00 (special discount).
Before this we used to buy stuff online from Lazada and Shoppee. Some things I still buy from Amazon. But now we buy from Taobao and Pinduoduo. As the video says the prices are super cheap.
Here is an example. I bought a glass food jar from Shoppee for about RM24.00. The price at the shops would be around RM100.00 but I could not find a shop selling the particular type jar. Now Pinduoduo sells the same item for RM6.50. One quarter the price at Shoppee. And maybe 1/15th the retail price at the shops.
So Lazada and Shoppee have been outselling the wholesale and retail shops for a few years already. Now Pinduoduo and TaoBao are causing another massive massacre in the retail and wholesale industry in Malaysia. Market talk says Pinduoduo brings in over 150 containers of goods each month. If you order via sea delivery there are no delivery charges.
TaoBao sells furniture sets like sofas for under RM50.00 a piece.
Not only Malaysian and Singaporean retailers but the global retail and wholesale industry is going to take a huge hit. It began with Amazon, Ali Baba, Shoppee, Lazada and now the new players are TaoBao and Pinduoduo.
The guy in the video says that after a year or two things will stabilise. It will. But online retail now saves the global consumer huge chunks of change in their pockets. Plus it is delivered directly to your home.
The world is changing. To the benefit of the consumers.
