Pinduoduo, one of China’s biggest e-commerce operators, is preparing to enter the North American market in its first cross-border expansion, according to people familiar with its plans, reports Bloomberg.
The Shanghai-based company is looking for new growth avenues at a time when its domestic economy is sputtering, and will follow in the footsteps of successful international ventures like Shein and AliExpress. It’s currently preparing its merchant partners for the move, the people said, asking not to be named as the matter is not yet public.
US-traded PDD holds roughly a 13% share of Chinese online retail, according to industry intelligence firm EMarketer, and has in recent times curtailed its heavy investment in online groceries, which were seen as the most promising new outlet for growth in the country. As it adopts more cost-control measures, the US market offers an enticing outlet to use its existing infrastructure and merchant network internationally.