People in this group may spend a lot of money to buy an expensive brand-name watch or 1.5 million yuan to buy a towel. Wang Li is one of the representatives. When Pinduoduo was first founded, data showed that about 90% of Chinese people had never drunk Starbucks, 100 million people had never been abroad, and 100 million people had never been on a plane. Low- and middle-income people still accounted for the majority. What Pinduoduo has to do is to match the right people to buy the right things in the right scene.
It can provide the right products for kenya telephone numbers consumers in the sinking market and provide matching product categories for consumers in first- and second-tier cities. This is not consumption downgrade but consumption stratification. Pinduoduo's approach also has its unique business logic. The founder of Pinduoduo once wrote an article called "Turning Capitalism Upside Down". The article mentioned that as the ultimate representative of capitalism, the essence of insurance is that the poor spend money to buy a product from the rich that "seeks stability in an uncertain future" to strengthen their own risk resistance. In the end, wealth continues to flow from the poor to the rich.
The article proposes a hypothesis: can the rich buy "insurance" from the poor, that is, buy a kind of stability to let wealth flow from the rich to the poor? "Everyone is often much clearer about their own wishes, needs and plans at a certain point in the future than others. Moreover, this kind of planning and willingness of each person and the certainty of an individual's behavior are often valuable to the supply side that meets the needs. It can reduce the uncertainty of organizational production and help achieve more efficient allocation of resources and capital.