| Since the 1990 s,with the gradual popularization of the Internet in the world,e-commerce industry has been booming.After more than 20 years of rapid development,China's e-commerce has been at the forefront of the world.Some giant firms have appeared such as Alibaba and JD.com.In the meantime,the innovation in e-commerce is far from over,and various new commercial forms are continuously emerging.One example is Pinduoduo platform,which rapidly rose by the business model of "social + e-commerce".Pinduoduo successfully went public in the United States just 28 months after its establishment.In 2017,the transaction amount of the firm reached 141.2 billion yuan,and the number of active users reached nearly 300.Since the 1990 s,with the gradual popularization of the internet in the world,e-commerce has been booming.After more than 20 years of rapid development,China's e-commerce has been at the forefront of the world.Some giant firms have appeared such as Alibaba and Jingdong.In the meantime,the innovation in e-commerce is far from over,and various new commercial forms are still continuously emerging.One example is Pinduoduo platform,which rapidly rose by the business model of "social + e-commerce".Pinduoduo successfully went public in the United States just 28 months after its establishment.In 2017,the transaction amount of the firm reached 141.2 billion yuan,and the number of active users reached nearly 300 million.From the perspective of transaction scale,Pinduoduo has become the third largest e-commerce platform in China after Alibaba and Jingdong.To this phenomenon,this thesis attempts to use the Alexander Osterwalder's and Yves Pigneur's business model canvas theory as a theoretical tool to analyze Pinduoduo's business model,and explore the advantages and disadvantages of its business model,so can get some beneficial enlightenment and lessons from that.Since the 1990 s,with the gradual popularization of the Internet in the world,e-commerce industry has been booming.After more than 20 years of rapid development,China's e-commerce has been at the forefront of the world.Some giant firms have appeared such as Alibaba and JD.com.In the meantime,the innovation in e-commerce is far from over,and various new commercial forms are continuously emerging.One example is Pinduoduo platform,which rapidly rose by the business model of "social + e-commerce".Pinduoduo successfully went public in the United States just 28 months after its establishment.In 2017,the transaction amount of the firm reached 141.2 billion yuan,and the number of active users reached nearly 300 million.From the perspective of transaction scale,Pinduoduo has become the third largest e-commerce platform in China after Alibaba and JD.com.To this phenomenon,this paper attempts to use the Alexander Osterwalder's and Yves Pigneur's business model canvas theory as a theoretical tool to analyze Pinduoduo's business model,and explore the advantages and disadvantages of its business model,in order to get some beneficial enlightenment and lessons.Since the 1990 s,the academic study on business model has gradually increased.Scholars build models from different perspectives to analyze and study the system and elements of the business model.The ‘business model canvas' proposed by Alexander Osterwalder and Yves Pigneur is one of the most practical and effective analysis models.Due to the fact that there is no business model could exist independently,it is always closely related to the external environment of the enterprise.Therefore,before the analysis of Pinduoduo's business model,this paper turns to discuss its external environment,and summarizes the industrial situation of the e-commerce industry and on this basis,using the Alexander Osterwalder's and Yves Pigneur's business model canvas theory to systematically sort out and examine the internal logic of the Pinduoduo's business model and demonstrate the internal logic of generating revenue.This paper indicates that the rapid growth of the number of active users and the transaction amount in a short time is mainly attributed to its profound understanding of the China's market,entering the market from the low-end consumer and low-end supplier,acquiring traffic from Wechat at a relatively low cost,with the dynamic shopping experience through "Pin",so Pinduoduo quickly won a large number of users.However,it is also found that with the further development of Pinduoduo,it may be difficult for each building blocks to develop cooperatively.Pinduoduo may face a game of prisoner's dilemma in the future,such as conflicts between value propositions and customers,between value propositions and key activities,between value propositions and key partnerships,and between customers and key partnerships.In addition,it is also found in the analysis that there are some problems that cannot be ignored in the platform,which will also affect the benign operation of the business model.For example,the platform absorbs a large number of low-end supplies,so Pinduoduo has a prominent problem of fake goods,which leads to customers' dissatisfaction or doubts about the platform;and the per capita annual consumption of customers is too low,which has a negative impact on the platform's profitability.Finally,according to the problems and the actual situation of Pinduoduo,this paper puts forward suggestions to enrich the value propositions,establish a new platform to meet the needs of medium and high-end value at the right time,optimize the industrial chain,ensure the products' low price and cost-effective commodities through the reformation of supply-side,and highlight the social attributes of the platform so to enhance the attraction to consumers. |
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