The value-oriented internet marketplace Temu, which debuted in the US two weeks ago, quickly rose to the top of the list of Android shopping apps.
On September 17, the app scored first among shopping applications on Google Play, ahead of Shein and Amazon, according to mobile data tracking company SensorTower. When Temu's marketplace debuts in September 2022, customers will have more options and access to higher-quality products at lower rates. The rating may provide insight into how customers see the discount store.
Among the 15 product categories available on the market are office supplies, pets, and fashion and beauty items. According to the firm, thousands of things are uploaded every day. A large product selection at competitive rates attracts more customers, according to Jacob Cooke, CEO of WPIC, an e-commerce technology and marketing company. To make Temu available to US customers, PDD must devise a creative strategy. By utilising Pinduoduo's network of suppliers and logistical partners, Temu, the first US e-commerce company, may try to set itself apart from other online players as well as traditional stores.
In 2021, Pinduoduo will have processed more than 61 billion orders after assembling a network of more than 11 million global merchants since 2011. It is renowned for marketing goods that provide customers value for their money. Due to its rapid user growth, Pinduoduo was designated the "fastest-growing internet firm in the world" by Goldman Sachs in 2018. Temu, although being a new company, has managed to negotiate the most advantageous conditions for customers thanks to Pinduduo's strong suppliers and fulfilment partners. With inflation reaching multi-year highs, increasing interest rates, and businesses warning of a recession, those elements might be key as the US retail industry gets ready for the holiday shopping season.
As a consequence, Temu may use its sister firm to access extensive knowledge in product procurement and execution. This, together with our dedication to providing excellent customer service, will allow us to give our consumers an unmatched purchasing experience. Temu is giving out free delivery on all orders and sitewide discounts in celebration of its launch. One of its first themed ads, The Halloween Special Countdown, offers inexpensive pet gowns, frightening costumes, and pumpkin lanterns.
According to a recent PYMNTS report, 70% of US consumers reduced their retail spending due to increased costs for basics like food and transportation. The purchasing power of US consumers has decreased by 12% over the past two years, and after paying for food, shelter, and gasoline, there isn't much left over for other expenses. Consumers are concerned about inflation and a recession, according to Joel Bines, the worldwide co-head of AlixPartners' retail business. Consumers will thus be on the lookout for discounts this year, despite merchants' own struggles with inflation and huge stockpiles.
On its website, Temu claims to have started an online store with unbeatable rates on everything from clothes to hair clips. It seeks to democratize shopping globally with its initial debut in the US. According to the Temu website, "Temu will supply everything you need to live your life the way you desire, no matter what the occasion."