Showing 12 of 26 posts with this tag
Temu has invested heavily to broadcast advertisements during the Super Bowl and provide millions of dollars' worth of giveaways, hoping to continue driving its sales growth in the US.
Pinduoduo's cross-border e-commerce platform, Temu, is set to introduce a semi-hosted model, targeting sellers who possess overseas warehouses and local dispatch capabilities.
More than half of the products offered by Temu, a shopping app owned by Shanghai-based internet giant PDD Holdings, have started internal testing in Canada.
Chinese logistics service provider J&T Express is currently negotiating a new collaboration with Temu, shifting its focus from providing an "end-to-end" full-chain solution to concentrating on last-mile delivery services.
Temu sprang onto the US e-commerce scene with a bold claim that it can deliver quality products at affordable prices for just about any budget. Yes, that’s right - "quality" and "affordability" in the same sentence.
TEMU is about to launch a semi-hosted service in Japan and South Korea soon.
On January 17th, Temu, a cross-border e-commerce platform under Pinduoduo, officially launched its South Africa site. This is also the 49th country that Temu has entered since its launch in September last year.
Temu's semi-hosted GMV in the US accounts for over 20% of the entire site.
PDD Holdings, the multinational commerce group that operates the Pinduoduo and Temu platforms, said that it’s unlikely to sustain current profitability with planned increases in technology investments amid intense industry competition.
Pinduoduo's cross-border e-commerce platform Temu has rapidly gained traction in the Japanese market since its launch in July 2023, boasting 15.5 million users by January 2024.
Pinduoduo's revenue reached 68.84 billion yuan in Q3, 2023, a 93.9% increase from the same period last year, nearly doubling, and a net increase of nearly 16.6 billion yuan from 52.281 billion yuan in the second quarter, far exceeding market expectations.
The number of registered users of Temu in South Korea has increased from 520,000 in August last year to 5.7 million in January this year, nearly tenfold in six months.