Pinduoduo’s New Brand Initiatives Upgraded, Facilitating Brand Innovation with 5,000 Manufacturers and Driving RMB 1 Trillion Sales

Pinduoduo announced that it would upgrade its New brand Initiatives on Thursday.

The New Brand Initiative, launched at the end of 2018, aims to help the growth of China’s small, medium and micro manufacturing enterprises, according to Pinduoduo.

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Chen Qiu, vice president of Pinduoduo, said the purpose of this initiative upgrade is to further support Chinese manufacturing enterprises in “embracing new consumption, creating new brands and realizing new intelligent manufacturing.”

Chen Qiu, vice president of Pinduoduo, introduced the "New Brand Initiatives 2.0" (Photo by An Shun)
Chen Qiu, vice president of Pinduoduo, introduced the “New Brand Initiatives 2.0” (Photo by An Shun)

The upgraded initiative will increase efforts to support new brands in four aspects:

Throughout the past year and a half, over 1,500 enterprises have participated in the initiative, with a cumulative order volume of 460 million orders. The average daily sales volume of customized goods in the third quarter of this year exceeded 2 million, driven by strong domestic demand post Covid-19 and the country’s emphasis on dual circulation.

“The formation of enterprise brands can promote the linkage between upstream and downstream industries, and therefore form an entire industrial chain with enterprise brands as the core,” said Zhang Chunyu, a researcher at the Chinese Academy of Social Sciences, who believes the upgraded New Brand Initiatives will drive up the overall regional economy.