拼多多(PDD)在2024年12月10日周二盘前大幅下跌5.34%,引发了市场的广泛关注。从拼多多最新财报来看,其第三季度业绩增长明显放缓:营收同比增长44.33%,净利润同比增长60.78%,增速较上一季度大幅回落。
财报显示,拼多多第三季度佣金收入下滑,导致毛利率下降至60.03%,也是导致净利润增速放缓的主因。为扶持商家、拓展新兴市场,拼多多加大了各项补贴力度,付出了较大成本。
拼多多长期以来依靠"百亿补贴"和低价模式吸引流量,但这种模式也遭到了质疑。一方面,拼多多与中小商家的矛盾时有发生,其"挤压商家利润"的模式难以持续奏效;另一方面,行业竞争愈演愈烈,京东、天猫等电商巨头也纷纷推出低价活动,给拼多多带来较大压力。更有声音指出,拼多多等互联网平台的低价模式,可能会对中国品牌和产业造成伤害。
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