Checkout
A Once-Obscure Chinese Startup Overtakes Shein In US
- US spending on bargain app surpassed Shein in May: data
- Strategy sees questions over whether success is sustainable
This article is for subscribers only.
This time last year, hardly anyone in the US knew what Temu was. Now, as American consumers grapple with runaway inflation, the bargain shopping app backed by a Chinese tech company is on a tear, with sales exceeding rival Shein.
Spending on Temu — an e-commerce marketplace backed by China heavyweight PDD Holdings Inc. — was 20% higher than more established fast-fashion retailer Shein in the US in May, according to Bloomberg Second Measure, which analyzes billions of credit and debit card transactions.