Source and analysis: PDD-owned Temu is losing an average of $30 per order and between $588M to $954M per year, as it tries to break into the US market
The Chinese shopping app is topping app stores in the US. But it's burning money and squeezing its suppliers to a breaking point in a bid to take on Amazon.
Prices on Temu, the Chinese shopping app, seem too good to be true. They are. The company is burning millions of dollars in subsidies, and squeezing its suppliers to breaking point, to crack the American market. Superb by @Tracy_Wen_Liu in @WIRED. https://www.wired.com/...
This is an amazing advertisement for the product, and a big THANK YOU to all companies that are fighting inflation by selling below their costs. https://twitter.com/...
For @WIRED , I wrote about Temu, the app that exploded onto the top of US app stores since it launched last September, targeting cash-strapped Americans with cheap unbranded products shipped directly from Guangzhou, China. https://www.wired.com/... via @wired