Abstract: Pinduoduo is a very popular group-building software in recent years. Its main marketing method is group-building. It earns more traffic through group-building with multiple people. Many entrepreneurs noticed Pinduoduo’s marketing model during their entrepreneurial journey, and they all wanted to try to open a store on Pinduoduo. So, how to open a store on Pinduoduo? What are the steps to open a store on Pinduoduo? Let’s learn about it with the editor below. Advantages and Disadvantages of Opening a Pinduoduo Store

Advantages:

1. One ID card can open multiple Pinduoduo stores

One ID card can only open a store on Taobao. You can open a store, but once the store is closed, the merchant cannot continue to open a store. In Pinduoduo, you can use one ID card to open multiple personal stores or five corporate stores. However, each store requires a registered mobile phone number, which allows merchants with multiple resources to open multiple stores and make better profits.

2. Pinduoduo has relatively few rules

Compared with Taobao’s complete rules, Pinduoduo’s rules are relatively few. Although there are few rules, the penalties are relatively strong, so Pinduoduo merchants should not underestimate Pinduoduo’s rules. A small mistake on your part may cause you to receive a secondary penalty or a large fine, and all your efforts will be wasted. And now Pinduoduo’s rules are constantly improving, and merchants must strictly abide by them.

3. Gain more sales through group sales

Pinduoduoduo focuses on low-priced products, but buyers mainly purchase in the form of group sales, so whether the unit price is low or slightly high A little, there will be a good sales volume, and the accumulated profits will be relatively large. Moreover, the group format also encourages buyers to share links, which means it can attract more traffic.

Disadvantages:

1. There is no shopping cart function

Pinduoduo does not have a shopping cart function, which is considered a disadvantage compared to e-commerce platforms. special. You may ask, if buyers want to buy different products in the store, they have to place separate orders. The profit is not much, and they have to pay two freight charges. Doesn’t this increase their operating costs? There is no need to worry about this. Pinduoduo supports combined shipping of orders from the same customers. There is also an advantage of not having a shopping cart, which can speed up the buyer's shopping decision, but the disadvantage is that if the customer needs to think again and then leave the page, it may be difficult to find the product if he wants to buy again, and there will be no further information.

2. The store cannot be found through search

Pinduoduo cannot find the store through search, so buyers can only enter the store through products or shared links; if they want to search for the store directly It is impossible to enter the store to buy. So what you have to do is to improve the ranking of your products so that buyers can find your products and enter the store to view more. The impact of sales volume on Pinduoduo’s product rankings is not the main one, but the overall score.

3. Pinduoduo’s punishments are very severe

Everyone may have heard of Pinduoduo’s punishments, which are very severe. For example, if there is diversion, you will either close the store or pay a 100,000 deposit; if you sell fakes, you will need to be fined 10 times the total turnover of the store; if the product is out of stock, it will be 5 yuan/order, and if the shipment is delayed, it will be 3 yuan/ The order will be issued as a non-threshold coupon with a validity period of 50 years; if the goods are shipped falsely, the sale of the product will be banned or the store will be closed; if you use the coupon package, you need to pay the coupon amount * 10, etc. So be careful

Entry requirements

Pinduoduo’s merchant platform is divided into four types of stores: flagship stores, specialty stores, and ordinary stores. Among them, the basic conditions for entering Pinduoduo flagship stores and specialty stores are:

1. A complete set of company business license information (original and duplicate business license, tax registration certificate, organization code certificate);

2 , Public account opening license and deposit;

3. Brand and trademark registration certificate or trademark acceptance letter (TM mark).

Basic conditions for entering a Pinduoduo store:

1. A complete set of company business license information (original and duplicate business license, tax registration certificate, organization code certificate);

2. Public account opening license and deposit (Pinduoduo deposit depends on the category);

For ordinary stores, if you are an individual, you need to upload the front and back of the original ID card, a recent personal photo and a handheld A recent photo of your ID card.

Pinduoduo special event categories: 1. Value-for-money card games; 2. Global overseas shopping; 3. Limited-time flash sales; 4. 9.9 special sales.

Setting-in process

The first step is to open Pinduoduo’s official website and directly search Pinduoduo on Baidu. The first one is;

The second step is to enter the website. After the homepage, find "Merchant Settlement" and click on it;

The third step, click on "Merchant Settlement" and enter the picture interface, click "I want to settle in";

The fourth step , after clicking "I want to sign in", register a Pinduoduo account;

The fifth step, select the corresponding sign-in method, click "Sign in now", fill in the merchant's personal information, and click Next;

The sixth step is to fill in the merchant’s Pinduoduo store information and click Submit. After the submission is completed, a qualification review will be conducted and a business license will be submitted. Then make the payment and the store can be officially opened.

Do I need a deposit?

Pinduoduo is a mainstream mobile shopping APP in China. It was established in September 2015. Users can purchase more products by initiating group bookings with friends, family, neighbors, etc. Low prices, buy goods in groups. It aims to gather the power of more people, buy better things at lower prices, and experience more benefits and fun. In fact, you can open a store with 0 yuan on Pinduoduo without paying a deposit, but you need to pay a deposit when withdrawing cash.

What to sell?

1. Taobao hot-selling items can still be made. No matter how many people sell, there will be people who will buy. So the key is how to sell. To sell, it is own characteristics. Don’t just believe that clothes are cheap and just sell them to attract people. You have to know that there are too many cheap clothes on Taobao. There is no cheapest, only cheaper. Therefore, in the grocery market, the right way out is to develop your own brand stores and operate your own specialty clothing.

2. Don’t focus on hot-selling categories, but develop “special” products around you. This is the center we have always adhered to. Some villages are selling dried sweet potatoes like crazy, and it has developed to the point where the entire village is drying dried sweet potatoes, and Pinduoduo is opening a store to sell dried sweet potatoes. Since others can sell fire, why can’t we sell some local specialties? Think about what you have around you?

We have shepherd’s purse, Yantai apples, cherries, mulberries, soft dates, wild cherries, etc. All kinds of wild fruits were picked in the mountains when I was a child; but they had never been grown on a large scale, let alone sold; This is an industry, just like pecans in Yunnan. Every place has local specialty snacks, wild fruits, and delicacies;

3. If you don’t have special products around you, you won’t be good at or dare not use them. Go try special products. After all, your ability is limited and you cannot develop a new product; - Then make your store "special"! Pinduoduo stores are popular in some special ways. Some are popular because of special reviews, and some are popular because of their special features. Some are popular because of their decoration, and some are popular because of their unique services; no matter what products are sold in 2014, a special feature must be highlighted.

Pinduoduo online store operation methods

1. Before entering the Pinduoduo platform, you need to understand the market macro situation and analyze market data

Understand the market of your own category To investigate and analyze whether it is competitive from several dimensions, you first need to understand the market capacity of your own category. Including: the monthly number of industry sellers and sales amount; then understand the price structure and unit price of products in your own category; secondly, understand the trend of this category. Including: search index, search popularity; the last step is to analyze the specific data of competitors (such as the cost of competing products, activity price and daily sales price), compare the own resources to evaluate the survival space, and then formulate a rough target plan based on the size of the investment.

2. Do a good job in store planning and shelf optimization according to the goals

To do a good job in store planning, you need to determine what the product is and what price the product is positioned at.

Store products must include traffic-driving products and profit-making products. This needs to be analyzed in conjunction with other shopping platforms and existing products. Determine the price of the product, which is generally divided into three dimensions: pre, mid and late pricing. In the early stage, it is confirmed that the price is in line with the purchasing crowd. In the mid-term, when the product is promoted, it needs to be more favorable than the original price. In the later stage, the added value of the product needs to be increased based on consumer psychology.

The specific content of internal strength includes the title of the product, refining the selling points of the details, price positioning, related products, etc. The title represents the attributes of the product and is the key to matching search traffic; when optimizing product details, you must clearly understand your own customer base, and then consider where to recommend the selling points of the product. Try to refer to peers for price positioning, and analyze your own products. Features to avoid overpricing and no conversion. Standard products require SKU planning, such as attracting traffic to Class A SKUs, converting Class B SKUs, and controlling the unit price of single products.

3. Promotional traffic (paid)/activities to attract traffic (the most important thing in operating a store)

In addition to activity traffic, paid traffic is indispensable for sellers . In addition to off-site advertising, there is also a click-through deduction advertising method on the site.

For example, use search promotion to attract traffic, analyze the click-through rate of products on keywords and compare it with industry data to analyze style potential (search promotion test); or use A-type models to quickly increase GMV in activities and detonate searches and categories. After the event, the traffic will be converted into Category B models, and search promotion will be used to supplement the traffic to allow the product to develop stably and reap profits. The operation of each activity to promote popular products is different, but the idea is the same. Compete for resource positions through small losses in the early stage or even event prices. After achieving performance, you can obtain secondary resource positions and then increase the price to gain profits.

4. Record the completion of the goal of the data analysis stage of product feedback

Data analysis must analyze the product click-through rate, conversion rate, and production ratio analysis. The highest click-through rate is higher than the industry average. , the conversion rate also needs to ensure a high conversion rate. According to the time nodes, based on the existing data analysis plan completion progress, adjustments are made compared with the real-time situation. Whether it is product data or promotion data, it must be kept completely. For example, the daily data of the product must be registered and compiled every day. Monitor the output value of the entire store to keep the store in a virtuous cycle.

5. Do a good job in pre-sales/after-sales

Actively receive and respond to customer conversations. If the reply exceeds 5 minutes, the reply will be delayed. The daily reply rate must be at least 80; order status Different customers are prioritized and dealt with in the order of quality issues - wrong shipments - inspections. Know how to maintain good product reviews, especially after events. For example, when old customers make a purchase, ask them to write as many positive reviews as possible and attach a buyer's presentation. Improve the stickiness of old customers and reduce the advertising costs of promoting and attracting new customers.