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Unit 1 The Mass Media
单元话题阅读理解专项练习
(2023春·江苏无锡·高二校考期中)THE E-COMMERCE company that retailers talk about most these days is neither Amazon, the American juggernaut, nor Alibaba, China’s biggest. It is Pinduoduo (PDD), a Chinese firm that started in 2015 as an online food supplier, but whose success has driven its market value above $200bn. Last year it was China’s fastest-growing Internet stock, rising by 330%.
PDD attracts attention for two reasons. One is its business model. David Liu, vice-president of strategy, explains that it has drawn on the popularity of smart phone in China to create an e-commerce experience in which people club together to buy products from robot vacuum-cleaners (吸尘器) to bananas. During the pandemic this has expanded into a fast-growing business across thousands of towns and villages, in which PDD’s users gather to buy local farm produce at low prices. Some call this “community group-buy”. Mr. Liu calls it “interactive (互动的) commerce”. It is one of the hottest parts of the Chinese Internet.
The second is the way PDD has broken the record of giants of online shopping. Until a few years ago, China’s e-commerce market seemed a two-way competition between Alibaba and JD.com, a competitor platform. No longer. Elinor Leung of CLSA, a brokerage (经纪公司), expects PDD’s share of online retail in China to go beyond that of JD in 2021. She expects the number of users over Alibaba. And although PDD put a huge amount of money to lower the prices of goods, ensuring the customers from poorer parts of China easy access to its app, she thinks it may turn profitable this year.
Remarkably, the key to its success focused on parts of the market they have been unable to reach instead of defeating its bigger competitors. Although online sales of groceries have rocketed during the pandemic, less than a tenth of the 8.1tm yuan ($1.25trn) farm-produce market is bought and sold digitally, “We are continuing to grow the pie,” says Mr. Liu. That lesson applies elsew