You must be aware about a report we published a few weeks ago where we revealed that people were searching about a new app or e-commerce platform named Temu all over the US and the reason was that they played it at the SuperBowl which is considered to be one of the best platforms to advertise your business to the world (as long as you have that kind of money). Talking about Temu, it is an e-commerce platform that sells products at a heavily discounted price which makes it attractive for people to shop as much as they want while staying in a budget.
The Temu app was available in the US and Canada as well as Australia and New Zealand right now but the PDD Holdings-owned app has now expanded to Europe as well. It is reported that Temu is now available in various parts of Europe such as France, Germany, Italy, Netherlands, Spain and the UK. Temu is owned by Chinese e-commerce platform Pinduoduo which is also known for its heavy discounts in the China region.
It is worth noting that Temu is headquartered in Boston, USA but the fact that it is a Chinese-owned app still remains in tact as its ownership has not changed. Apart from that, it is worth noting that Temu was getting just a gross merchandise value of $3 million per month till September which grew to $192 million in January all thanks to its ad spend on the SuperBowl and other campaigns released after that.
Reports from the Sensor Tower reveal that the Temu app became the most downloaded app across the Google Play Store as well as Apple App Store in the US and still is the most downloaded app on both the platforms. Sensor Tower reports that the app was downloaded 19 million times in just the first quarter of this year and this figure is for the US region alone. Temu is walking on the same path as followed by Shein to ship to more than 150 countries and expand its reach as well as revenue. Right now, Temu sells shoes, jewelry, beauty accessories, and home goods on its platform.