In Chen Lei's view, empowering and supporting merchants is an important part of Pinduoduo's efforts to promote high-quality supply and build a high-quality platform ecology.
When it comes to Temu’s booming overseas business, “compliance” is another key word.
Entering 2024, due to policy changes in overseas markets, the country code philippines mobile gradual maturity of platform rules, and the gradual emergence of the drawbacks of the full-hosting model, domestic overseas platforms generally face compliance operation challenges in multiple markets around the world, and TEMU is no exception.
As early as May this year, the European Union regarded it as a "super-large online platform" and launched a key supervision and investigation on it. Almost in the same month, TEMU was quickly sued by the European Union consumer organization BEUC.
Currently, Temu has entered more than 70 countries and regions, and has also encountered regulatory issues in many countries and regions such as the European Union and South Korea.
In this regard, Chen Lei said, "In the process of global business iteration and exploration, we will always regard 'compliance' as an important prerequisite for development. In the past period of time, Pinduoduo has invested a lot of resources to build a safe shopping environment. We hope that more consumers around the world will enjoy the fruits of the digital economy. This original intention will not change."
For Pinduoduo, with the intensifying domestic e-commerce competition and overseas competition compliance challenges, the slowdown may just be the beginning.