2021-03-02 05:22:30 PDD Pinduoduo
03/02/21 03/0205:22 03/02/2105:22 | Pinduoduo reports 2020 agricultural-related GMV over $42BPinduoduo doubled the value of agricultural orders it handled last year, exceeding the company's earlier estimate as the pandemic pushed more people to order food and groceries online. The company recorded more than $42B in agriculture-related GMV in 2020, up from 136 billion yuan in 2019. The firm had said last December it was on track to hit 250 billion yuan in GMV for the category. Sales were helped in part by the pandemic, which pushed more producers to seek alternatives to traditional wholesale channels. Lockdown restrictions pushed consumers to embrace digital offerings. |
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