Finance:Temu (website)

From HandWiki
Short description: Online marketplace
Temu
Temu logo.svg
Founded2022
Area served
  • Australia
  • Belgium
  • Canada
  • France
  • Germany
  • Italy
  • Mexico
  • Netherlands
  • New Zealand
  • Poland
  • Spain
  • United Kingdom
  • United States
IndustryE-commerce
ServicesOnline shopping
ParentPDD Holdings[1]
Website{{{1}}}

Temu is an online marketplace operated in a number of countries by the Chinese-based company PDD Holdings Inc.[1] It offers heavily discounted goods[2] which are mostly shipped to consumers directly from China.[3]

History and business model

Temu is owned and operated by the Chinese-based and Cayman Island registered[4] company PDD Holdings, which also owns Pinduoduo, a popular online commerce platform in China.[5] The Temu platform first went live in the United States in September 2022[1] In February 2023, Temu launched in Canada.[6] That same month, the company aired a Super Bowl ad.[7] In March 2023, Temu launched in Australia and New Zealand.[8] In the following month, Temu was launched in France, Italy, Germany, the Netherlands, Spain and the UK.[9]

Temu allows China-based vendors to sell and ship directly to customers without having to rely on warehouses in the destination country.[10] Online purchases on Temu can be made using an Internet browser or through a dedicated mobile app. In late 2022, the Temu app was the most frequently downloaded app in the United States.[11]

Temu offers free goods to some users who successfully encourage new users via affiliate codes, social media, and gamification.[2] It also uses online advertising on Facebook and Instagram. According to Sarah Perez writing for TechCrunch, "These ads appear to be working to boost Temu's installs. But dig into the app's reviews and you'll find similar complaints to Wish, including scammy listings, damaged and delayed deliveries, incorrect orders and lack of customer service."[11] According to Andrew Chow writing for Time (magazine) , Temu is also starting to develop a reputation for undelivered packages, mysterious charges, incorrect orders, and unresponsive customer service.[2]

In May 2023, concerns were raised about risks to users' personal data as the Pinduoduo shopping app was removed from Google Play Store after some of its versions were found to contain malware.[12]

On May 17, 2023, Montana governor Greg Gianforte banned Temu on government devices state-wide, along with ByteDance applications (including TikTok), Telegram, and WeChat.[13][14] The ban was criticized by the American Civil Liberties Union, which said it "trampled on the free speech of hundreds of thousands of Montanans ... in the name of anti-Chinese sentiment".[14]

See also

References

  1. ↑ 1.0 1.1 1.2 Murray, Conor (February 17, 2023). "What To Know About Temu: New Chinese-Owned Fast Fashion App Draws Comparisons (Good And Bad) To Shein". https://www.forbes.com/sites/conormurray/2023/02/17/what-to-know-about-temu-new-chinese-owned-fast-fashion-app-draws-comparisons-good-and-bad-to-shein/?sh=351587c23f14. 
  2. ↑ 2.0 2.1 2.2 Chow, Andrew R. (29 December 2022). "The Truth About Temu, the Most Downloaded New App in America" (in en). Time (magazine). https://time.com/6243738/temu-app-complaints/. Retrieved 8 March 2023. 
  3. ↑ Kharpal, Arjun. "China's e-commerce giant Pinduoduo quietly launches US shopping site in Amazon challenge" (in en). CNBC. https://www.cnbc.com/2022/09/02/chinas-e-commerce-giant-pinduoduo-launches-us-shopping-site-temu.html. 
  4. ↑ "PDD Holdings". https://www.sec.gov/Archives/edgar/data/1737806/000110465923049927/pdd-20221231x20f.htm. 
  5. ↑ Liao, Rita (November 22, 2022). "Pinduoduo's sister shopping app Temu tops US App Store". TechCrunch. https://techcrunch.com/2022/11/22/pinduoduos-sister-shopping-app-temu-tops-us-app-store/. 
  6. ↑ McLymore, Arriana; Hall, Casey (2023-03-10). "Shein, Temu in fierce fight over US market for $10 dresses" (in en). Reuters. https://www.reuters.com/business/retail-consumer/shein-temu-fierce-fight-over-us-market-10-dresses-2023-03-09/. 
  7. ↑ Morley, Olivia (February 12, 2023). "Ecommerce Startup Temu Airs First Super Bowl Spot—Twice". Adweek. https://www.adweek.com/brand-marketing/e-commerce-startup-temu-airs-its-first-super-bowl-spot-twice/. 
  8. ↑ "China-backed shopping app that could unseat Kmart, Big W". April 18, 2023. https://www.news.com.au/lifestyle/real-life/news-life/chinabacked-shopping-app-that-could-unseat-kmart-big-w/news-story/2d37619c6237afd46895ad004062f6c2. 
  9. ↑ Qu, Tracy (2023-04-24). "Chinese budget shopping app Temu opens in Europe amid rapid expansion" (in en). https://www.scmp.com/tech/big-tech/article/3218124/pdds-temu-opens-shop-europe-six-new-markets-it-rapidly-expands-take-rivals-shein-bytedance. 
  10. ↑ Conrad, Jennifer (October 26, 2022). "How Retail App Temu Lures US Shoppers With Mind-Bending Prices: The new ecommerce platform can beat Amazon on price by shipping direct from China. It's already racing up the charts.". Wired. https://www.wired.com/story/how-retail-app-temu-lures-us-shoppers-with-mind-bending-prices/. Retrieved February 11, 2023. 
  11. ↑ 11.0 11.1 Perez, Sarah (January 28, 2023). "This Week in Apps: Temu's hot streak, Walmart's m-commerce & an Apple XR App Store". https://techcrunch.com/2023/01/28/this-week-in-apps-temus-hot-streak-walmarts-m-commerce-an-apple-xr-app-store/. Retrieved February 11, 2023. 
  12. ↑ Chiang, Sheila (2023-05-17). "Temu accused of data risks after sister app was suspended for malware" (in en). https://www.cnbc.com/2023/05/17/temu-accused-of-data-risks-amid-tiktok-pinduoduo-fears.html. 
  13. ↑ Peters, Jay (2023-05-17). "Montana bans Telegram, WeChat, and Temu from government devices" (in en-US). https://www.theverge.com/2023/5/17/23727750/montana-bans-telegram-temu-wechat-other-bytedance-apps-government-devices-tiktok. 
  14. ↑ 14.0 14.1 Kern, Rebecca (17 May 2023). "Montana bans TikTok for all residents" (in en). Politico. https://www.politico.com/news/2023/05/17/montana-governor-signs-bill-banning-tiktok-00097540. 

External links




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