Pinduoduo Has Big Plans for Local Groceries
Pinduoduo (NASDAQ: PDD), China's third-largest e-commerce company after Alibaba (NYSE: BABA) and JD.com (NASDAQ: JD), launched a new service called Duo Duo Maicai ("More Grocery Shopping") in August. Maicai lets shoppers pre-order groceries online, then pick them up from local stores the next day or wait for door-to-door deliveries within three to five days.
Maicai might initially seem like a minor extension of Pinduoduo's core platform, which sells discount products and encourages shoppers to make group purchases, but the company's management mentioned the new platform dozens of times during its latest conference call.
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Source Fool.com
