Chinese social e-commerce firm Pinduoduo (NASDAQ: PDD) grew its active buyers’ count to 683.2 million as of June 30, 2020, that’s 41% higher than the 483.2 million in the twelve-month period ended June 30, 2019, said the Shanghai-based company’s 2020 Q2 earnings report that came out last Friday.
In comparison, Alibaba (NYSE: BABA; HKEX: 9988) e-commerce and JD.com (NASDAQ: JD, HKEX:9618), the two major players in the sector, respectively, have 742 million and 417.4 million annual active buyers at the end of June.
Pinduoduo added 55.1 million new active buyers quarter-on-quarter in Q2, hitting a historical high since it went public in July 2018. The amount is bigger than the new users Alibaba and JD.com added together during the same time frame.
However, annual spending per active buyer of the company, RMB1,857 (USD 262.8), was still the lowest among the three, as 36Kr reported. The average amount spent by users on JD was RMB 5,760 (USD 831) in 2019.
More on Pinduoduo’s quarterly report please read: Pinduoduo posts mixed earnings ahead of inclusion in Nasdaq 100
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.