前段时间，我们办公室有个同事在拼多多上给孩子买了件衣服，花了十几块钱，转身又在淘宝上看了看同款，标价却是五六十块。她当时就纳闷了，难 道是品质完全不一样？我们几个人坐在一起讨论这个话题，发现不少人都有过类似的疑惑。看起来同样的商品，为什么拼多多就能卖得便宜那么多？这 背后到底是怎么回事？ 其实这个问题问得特别好，因为它反映了现在消费者心里的一个真实困惑。我们常常会在两个平台之间徘徊，一边想要便宜，一边又怕质量有问题。那 我们就来好好聊聊，这个看似简单的价格差异背后，究竟藏着什么样的商业逻辑。 拼多多能把价格压得那么低，根本上不是什么神奇的秘诀，而是它采用了完全不同的商业模式。淘宝这些年的运营方式，大家都不陌生。卖家要交店铺 保证金，要交各种服务费，还要根据销售额交佣金，平台还经常搞活动扶持，商家要参与就得交推广费。这一套流程下来，商家的成本已经相当高了。 然后商家为了能在淘宝上活得舒服点，得投入钱来优化店铺、提高销量、积累信誉。这些钱最后都会被分摊到商品价格里面。 淘宝这几年也发现了自己的问题。一个平台上的费用越来越多，商家的压力越来越大，结果就是消费者能感受到价格确实在上涨。淘宝有意识地在调整 自己的策略， ...

今天分享的是：电商运营：2025年Q4中国电商平台商家投诉数据报告 报告共计：26页 2025年Q4电商行业呈现经营旺季与商家投诉并存的态势，各大平台在推出扶持政策与节日促销活动的同时，也面临诸多商家权益相关问题。快手电商以"年 终购物狂欢节"为核心，围绕冬季保暖、节日礼赠等场景发力，销售与推广热度环比分别增长1.50%和5.62%，黄金、玉石、车厘子/樱桃、男士面部护肤等品 类热销，平台还升级生鲜返佣政策、发布年货节营销作战图等助力商家发展。而同期电商平台商家投诉情况突出，抖音电商（38.75%）和拼多多 （33.55%）的投诉占比位居前两位，投诉问题以任意仅退款（37.09%）、过度维护消费者（19.97%）、扣押保证金（9.99%）和任意罚款（9.73%）为主。 投诉商家主要集中在广东省、浙江省等地区，经营类目以服装服饰、3C数码、食品生鲜居多，投诉金额超九成集中在0-5万元。抖音电商的投诉问题中任意 仅退款占比达46.64%，淘宝平台则以任意仅退款和过度维护消费者为主要投诉点，十大典型案例还涉及随意封店、规则矛盾等问题。整体来看，电商平台 在推动销售增长、丰富营销场景的同时，仍需优化规则制定与执行，平 ...

近日，Similarweb2025年全球电商APP月活榜单出炉，Temu以2.464亿月活用户稳居第三，给全球电商行业投下了一颗"惊雷"。要知道，这个拼多多旗下的 跨境电商平台，2022年才在北美上线，仅用三年就走完了拼多多国内主站十年的发展路程，与亚马逊和Shopee共同构成全球电商"三强格局"。这份成绩单 背后，不只是一个平台的狂飙，更是中国供应链与数字技术协同出海的一次成功验证。 更深层来看，Temu的供应链体系并非单向输出，而是与中国产业带形成了"双向赋能"的闭环。在浙江平湖羽绒服产业带，Temu通过分析全球用户数据， 指导工厂改进面料与设计，推出的防风羽绒服在欧洲冬季销量暴涨200%；山西文水牛肉产业带则在Temu的建议下进行精细化加工，从散装肉升级为真空 包装的即食产品，溢价能力提升50%，成为平台爆款。这种"全球需求反馈 — 国内产业升级 — 全球市场输出"的逻辑，让中国供应链从"单纯生产"转 向"精准创新"，也让Temu的商品持续保持竞争力。正如拼多多联席董事长赵佳臻在2025 年股东大会上所言："Temu的规模跃迁，本质是中国供应链产业 红利的释放，而我们要做的，是把这种红利转化为长期竞争力 ...

Financial giants have made a conspicuous bearish move on PDD Holdings. Our analysis of options history for PDD Holdings (NASDAQ:PDD) revealed 28 unusual trades.Delving into the details, we found 17% of traders were bullish, while 82% showed bearish tendencies. Out of all the trades we spotted, 26 were puts, with a value of $6,564,377, and 2 were calls, valued at $148,058.Predicted Price RangeAnalyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price win ...

来源：市场资讯 （来源：科创100ETF基金） 美股三大指数集体低开，标普500指数跌0.1%，道指跌0.35%，纳指跌0.15%。大型科技股方面，谷歌A 涨1.43%，Meta跌1.01%，苹果跌1.33%，特斯拉跌1.37%。中概股方面，哔哩哔哩涨3.24%，携程涨 1.02%，理想汽车跌1.10%，京东跌1.14%，拼多多跌1.19%。 ...

当时，袁培杰的小家电工厂已经遇到利润瓶颈，他觉得应当立刻转型。 广东中山黄圃镇的大岑片区，四面环水，被当地称为"家电岛"——通过旧厂房改造升级，众多智能家电小型企业汇集 于此，形成了规模可观的家电产业园区。 智能化改造的确带动了一批小生意扩张成大产业，比如雪乐电器、昊森热能、威锦电器等多个项目，产值均超亿元。 但在小家电这一国内产能过剩、竞争激烈的赛道，更多不被看到的故事，是像袁培杰这样陷在内卷漩涡中的人。 袁培杰在中山经营着自己的小家电厂"卡屋"，前几年在古镇看到朋友的灯具厂后，他意识到到自己必须做出些改变 了。"他们几个人守着一张桌子，就能完成比我们几十人产线更多的销售额和利润。" "（那些成功的小家电企业）在上个时代已经抢到了这个产业的钥匙，我不能还在这个领域硬扛，而要用现在的工业能 力，延续到新的消费需求上。"袁培杰这样思考。 于是他的小家电，摇身一变成了宠物保温碗——由原产线里的酸奶机改造而成。 宠物保温碗是"卡屋"的第一件宠物赛道产品，但在拼多多一经上线便迅速起量。新产业意味着重回起点、从零开始， 短时间内能有可观成绩，袁培杰表示，拼多多平台帮了很大的忙。 像袁培杰这样的转型工厂，是当下火热的宠物 ...

A-share market liquidity and flows, continued below. January 7, 2026 09:00 PM GMT China Equity Strategy | Asia Pacific Positions of Active Long-only Managers in China/HK Foreign inflows into Chinese equities accelerate to US$3.5bn in December, driven by US$4.4bn of inflows from passive funds and US$0.9bn of outflows from active funds. Foreign funds added their UW to China slightly in November. Key Takeaways Foreign-domiciled long-only fund flows: | M | | | | --- | --- | --- | | | | Foundation | | January 7, ...

Core Insights - The article discusses a rural business experiment aimed at increasing farmers' income by extending the agricultural value chain, moving from merely producing crops to processing and selling them as higher-value products [1][2][11] Group 1: Agricultural Innovation - The Liu Zhuang Technology Courtyard in Hebei has shifted its focus from just increasing crop yields to enhancing the value of agricultural products through processing, such as turning wheat into flour and then into bread [1][2] - The courtyard has successfully sold over 3,000 bags of high-quality flour and more than 20,000 pieces of bread within six months of implementing this new model [1][12] Group 2: Educational and Community Engagement - Graduate students from agricultural programs across China are participating in this initiative, helping farmers increase both production and income through hands-on involvement [1][2] - The project emphasizes the importance of understanding market dynamics and consumer preferences to ensure that farmers benefit from their produce [11][12] Group 3: Market Challenges and Solutions - Initial attempts to sell flour faced challenges due to lack of market experience, leading to issues such as order confusion and product spoilage [9][10] - Collaboration with the Pinduoduo platform has provided essential support, including sales training and direct market access, which has significantly improved the project's viability [10][12] Group 4: Future Goals and Sustainability - The long-term objective is to create a replicable model that allows farmers to participate in the entire value chain, ensuring they benefit from both production and processing [12] - The courtyard aims to develop a standardized operational manual to facilitate the sharing of successful practices among farmers, promoting sustainable income growth [12]

Core Insights - The Asia-Pacific ecommerce market is projected to grow at a CAGR of 5.9%, reaching approximately US$4.83 trillion by 2029, up from US$3.58 trillion in 2024 [2][10] - The market is expected to grow by 7% annually, reaching US$3.83 trillion by 2025 [1][10] Market Growth - The ecommerce market in Asia-Pacific has experienced a robust growth rate of 9.7% from 2020 to 2024 [2] - The forecast indicates a continued upward trajectory with a CAGR of 5.9% from 2025 to 2029 [2] Competitive Landscape - Competitive intensity is increasing as short-video platforms integrate commerce in China and Southeast Asia, while cross-border entrants are reshaping price expectations in Australia and Japan [4] - India is witnessing stronger competition in grocery and FMCG sectors due to the expansion of quick-commerce into more categories [4] Current State of the Market - The ecommerce landscape in Asia-Pacific is characterized by high competitive intensity, with multinational platforms, domestic marketplaces, social-commerce players, and quick-commerce operators expanding their presence [5] - In China, Alibaba and JD.com are facing pressure from short-video ecosystem platforms like Douyin and Kuaishou [5] Key Players and New Entrants - Major players include Alibaba, JD.com, and Pinduoduo in China; Amazon, Flipkart, and Reliance in India; Shopee, Lazada, and Tokopedia in Southeast Asia; Rakuten and Yahoo! Shopping in Japan; and Coupang in South Korea [8] - New entrants are primarily cross-border Chinese platforms like Temu and Shein, which are gaining consumer adoption in Australia and Japan [8] Recent Developments - TikTok's integration with Tokopedia in Indonesia marks a significant restructuring, allowing it to resume ecommerce operations after regulatory restrictions [9] - In Australia, increased scrutiny of consumer protection is prompted by rising activity from Temu and Shein [9] - Reliance is actively acquiring and partnering with offline retail brands to enhance omnichannel capabilities [9]

One pundit tracking the company feels it's been rather adaptable given the challenges of China-U.S. trade these days.Chinese e-commerce stock PDD Holdings (PDD +3.05%) was a winner on Tuesday, rising to close the day 3% higher. That performance, inspired by an analyst's price target hike, was more than good enough to beat the 0.6% rise of the benchmark S&P 500 index. A 21% raiseThat morning, Freedom Capital Markets pundit Roman Lukianchikov pulled the switch on that price target move. He now feels PDD's Ame ...