Temu Extends Lead Over Shein in US as Shoppers Embrace a Bargain
- Temu’s sales in US last month near three times those of Shein
- American shoppers still flock to cheap sites, discount stores
The Temu website.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
This year’s Black Friday sales may have disappointed a number of US retailers but for online marketplace Temu, November was another banner month.
Sales on the platform that’s backed by Chinese heavyweight PDD Holdings Inc. jumped 29% from a month ago to a new record, according to data from Bloomberg Second Measure, which analyzes consumers’ card transactions, extending Temu’s lead over fast-fashion rival Shein.