Tencent's new push in social e-commerce with the launch of its WeChat mini program "Xiao'e Pinpin"

May 12, 2020 PinDuoDuo JD.COM

On April 29, Tech Planet (ID: tech618) was exclusively informed that Tencent has rolled out Xiao'e Pinpin, a mini program for social commerce on WeChat. Xiao'e Pinpin's shopping mode is similar to Pinduoduo. It is an e-commerce platform with group-buying feature. 
According to the official introduction, Xiao'e Pinpin relies on the diversified scenes and huge user groups of Tencent's social ecosystem to connect consumers with various circles and diverse shopping scenes.

The WeChat mini-program information of Xiao'e Pinpin shows that its developer is Shenzhen Tencent Computer System Co., Ltd. It is worth noting that Tencent did not choose to build the Xiao'e Pinpin in the form of a website or App. Perhaps it is to first start a cold search with a mini program.
On the track of social e-commerce, Tencent has invested heavily in investment + WeChat traffic to support Pinduoduo. The current market value of Pinduoduo has reached a huge value of US $ 58.5 billion. Why does Tencent have to develop Xiao'e Pinpin after investing Pinduoduo, and what are the prospects for this product?

Group-buying + good recommendations model
Tech Planet (ID: tech618) discovered after the experience that the design of Xiao'e Pinpin is very simple. The function module only has a home page and a personal center. Its main function is group-buying, coupled with good recommendations.
The recommended product tops the homepage, recommending the current popular products. In each product display section of the home page, the top is a good product recommended by the buyer with a text picture, and the bottom will display the price of the product and the number of joint purchases. It adopts the core advantages of the Xiaohongshu and Pinduoduo.
However, the current Xiao'e Pinpin does not support product search and product category retrieval, which needs to be improved.
Xiao'e Pinpin personal center will display order details, product processing details and other services. It is worth noting that the products currently purchased in Xiao'e Pinpin are free shipping, and support 48-hour delivery and 7-day unreasonable return, which is still very favorable for consumers.
According to the introduction, the type of store, business mode and main category are different, and the amount of the deposit paid is also different. For example, all kinds of flagship stores, specialty stores, franchise stores have a deposit of 5,000 yuan, virtual goods are 10,000 yuan to release specific products. In addition to depositing the above deposit, the owner need to pay a special store deposit.
Furthermore, the platform has the right to adjust the basic deposit every month based on the sales of the store in the previous month. If the sales is greater than or equal to 500,000 yuan, the owner need to pay a deposit of 10,000 yuan. If not, they cannot enter the platform.
The manual also stipulates relevant processing rules for merchants' delayed shipments. If there is a delayed shipment, the consumer's compensation will be deducted from the merchant's account. It can be said that Xiao'e Pinpin has begun to design its rule, and what it lacks at present is an app product form and a more complete shopping system support. It is expected that if Xiao'e Pinpin continues to develop rapidly, the product and system upgrade will be on the agenda.

Tencent never stops the e-commerce dream
As a bonanza for the current Internet, Tencent has never achieved much success in e-commerce filed.
Combing Tencent's e-commerce road, we can find that from the early Tencent launched Paipai.com to the later Yixun.com, it tried to compete with Alibaba's 1688.com and Taobao. However, even through it had strong user base on QQ, it failed to let Paipai and Yixun.com achieved a breakthrough. Later, Tencent chose to invest in JD.com, the industry's second-largest company, to save its e-commerce business.
Next, on May 28, 2018, Tencent launched its own e-commerce platform "Emanu-pin" through QQ. This is an ecological platform for Tencent's core derivatives in the field of Pan quadratic culture, with QQ young users as the core. It has its own independent apps and mini programs. However, because it did not bring a good response, it finally went offline with a low profile on September 25 last year, and was incorporated into the QQ public account "look and buy", which became a shopping function, and the ending did not ideal.
After this incident, Tencent has made some changes in its e-commerce development strategy. On the one hand, it continues to cooperate with other e-commerce platforms, such as Pinduoduo. On the other hand, it is to derive e-commerce in the form of WeChat mini programs or embedded in other apps.
However, for Tencent itself, these are all small and noisy projects, which have not caused big splashes in the e-commerce field.
Social e-commerce has sprung up in recent years, and finally let Tencent find its own e-commerce path. Nowadays, the competition in the social e-commerce field is still fierce: Taobao integrated Tiantian special sales and Juhuasuan and fought with Pinduoduo through 10 billion subsidy palan; JD.com's platform "Jingxi" is officially connected to the WeChat first level entrance; Suning.com has also become the main force of the sinking market.