Temu, Shein See US Sales Drop After Trump Targets China Trade
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Online shopping giants Temu and Shein have seen a sustained drop in sales in the week after US President Donald Trump scrapped a duty exemption that their small parcels benefit from, suggesting a chilling effect on American consumers who previously flocked to their ultra-cheap wares.
Shein’s US sales fell 16% to 41% for five days from Feb. 5 while PDD Holdings Inc.’s Temu notched a fall of as much as 32% during the period, according to Bloomberg Second Measure, which analyzes credit and debit card data.