On March 8, Pinduoduo, a leading e-commerce platform in China with over 730 million users, established a partnership with Midea, the country’s largest consumer electronics brand.
Under the partnership agreement, Pinduoduo and Midea will jointly design customized washing machines to Pinduoduo’s consumers, with production estimates exceeding one million items.
According to public records, Pinduoduo and Midea initiated their collaboration last September through jointly staging a “Consumer Electronics Festival”. During the event, Pinduoduo helped Midea attract over 300,000 consumers. Midea has also joined Pinduoduo’s “10 Billion Subsidy Program” and provided industry leading customer services.
Pinduoduo’s user base has expanded rapidly, establishing the platform as a new incremental market for electronics brands. As of the third quarter of 2020, Pinduoduo’s annual active buyers had increased to 731 million users, representing a net rise of over 200 million users over the past year.
In April 2020, Pinduoduo announced a $200 million investment in convertible bonds and a strategic partnership with GOME. In August, Pinduoduo jointly offered a livestreaming event with GOME, bringing together a range of famous brands including Apple, Midea, Lenovo, and Dyson.
“Pinduoduo offers a gateway to a broad, diversified consumer base that is highly engaged and driving consumer spending patterns,” said a company spokesman. “We will work with Midea to bring more high-quality and value-for-money products that are relevant to the needs of our consumers.”