PDD posts higher revenue in Q3, says Temu will strive to create ‘unique value’

PDD Holdings, the owner of the Pinduoduo and Temu e-commerce platforms, reported higher revenue in the third quarter and said it will increase spending on research and development to enhance its core capabilities. The Nasdaq-listed company reported total quarterly revenues of RMB 35.5 billion ($4.99 billion), up 65% from last year, while operating profit was…

Chinese internet giants turn to philanthropy under economic downturn, but it’s not just a number’s game

Every September, Chinese tech majors kickstart a series of charity events, such as Alibaba’s Sept. 5 Charity Week and Tencent’s Sept. 9 Giving Day. Since this tradition of “charity month” in China was pioneered eight years ago by Tencent, these peer-to-peer fundraising campaigns have become the primary way that the general public in China gets…

How can brands use NFTs in marketing?

Editor’s note: Two years ago, the term “NFT” would have elicited a confused look from all but the most dedicated crypto or Web3 enthusiasts. Today, it is very much a part of the mainstream marketing lexicon, with everyone from Taco Bell to Tiffany jumping aboard the non-fungible token bandwagon. But in a world where The…

What can Europe learn from China’s live e-commerce boom?

Brands venturing into livestreaming at home need to be aware of cultural differences.

European brands jumped on China’s live e-commerce bandwagon early on back in 2016. Now, fueled by the pandemic, European companies are embracing livestreaming as they target online European shoppers.

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