A new shopping app linked to China’s top retailers has become the most downloaded app in the US, said media reports. The app has surpassed mighty brands like Amazon and Walmart.
Temu, a Boston-based online retailer that shares the same owner as Chinese social commerce giant Pinduoduo, made its Super Bowl debut Sunday.
Temu, which runs an online superstore for virtually everything — from home goods to apparel to electronics — unveiled a commercial during the game that encouraged consumers to “shop like a billionaire”.
The pitch? You don’t have to be one, CNN reported.
The surprisingly low prices — by Western standards, at least — have drawn comparisons to Shein, the Chinese fast fashion upstart that also offers a wide selection of inexpensive clothing and home goods, and has made significant inroads into markets including the United States.
Shein is considered one of Temu’s competitors, along with US-based discount retailer Wish and Alibaba’s AliExpress, according to Coresight Research, CNN reported.
Temu, pronounced “tee-moo”, was launched last year by PDD, its US-listed parent company formerly known as Pinduoduo. The company officially changed its name just this month.
PDD’s subsidiary Pinduoduo is one of China’s most popular e-commerce platforms with approximately 900 million users. It made its name with a group-buying business model, allowing people to save money by enlisting friends to buy the same item in bulk, CNN reported.
Since its rollout in September, the application has been downloaded 24 million times, racking up more than 11 million monthly active users, according to Sensor Tower.
(With inputs from agencies)
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