真金白银扶持新质商家,拼多多在为下一个十年布局

Ofweek光电信息网
Jun 11, 2025

距离拼多多2025年Q1财报的发布已经过去了半个月,但坊间的各种讨论还在继续。其中最不被理解的是,拼多多在Q1财报电话会上再次重申要反哺和扶持商家,先后推出了百亿减免、新质商家扶持计划、千亿扶持等惠商举措,不惜牺牲短期利润帮助中小商家降佣减负。为什么拼多多要大力补贴商家,以至于让“激进”的营销支出摊薄了利润率?不少媒体、分析师从商业模式、经营战略、产业结构等维度进行了解读,给出了不同角度的结论。但...

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