ONLINE budget shopping app Temu, owned by Chinese e-commerce giant PDD Holdings, kept up its momentum in the US in the first quarter with downloads jumping 57 per cent as its cutthroat pricing buoys the app in a tough macroeconomic environment, reports Hong Kong's South China Morning Post.
Temu saw 19 million downloads in the first three months of the year, bringing its total to 33 million downloads since it launched in the US in September, according to mobile intelligence firm Sensor Tower.
Temu is currently the top-ranked free app in the US on both Apple's App Store and Google Play, a spot it has largely guarded since November.
Temu, like its rival Shein, has grown rapidly by targeting price-sensitive consumers in overseas markets with inexpensive, made-in-China goods across a variety of product categories, which has become a winning strategy since a spike in global inflation last year and growing macroeconomic pressure, according to Seema Shah, senior director of investor research at Sensor Tower.
SeaNews Turkey
Temu saw 19 million downloads in the first three months of the year, bringing its total to 33 million downloads since it launched in the US in September, according to mobile intelligence firm Sensor Tower.
Temu is currently the top-ranked free app in the US on both Apple's App Store and Google Play, a spot it has largely guarded since November.
Temu, like its rival Shein, has grown rapidly by targeting price-sensitive consumers in overseas markets with inexpensive, made-in-China goods across a variety of product categories, which has become a winning strategy since a spike in global inflation last year and growing macroeconomic pressure, according to Seema Shah, senior director of investor research at Sensor Tower.
SeaNews Turkey
