Temu is the #1 App in the App Store Right Now, What is it?
You might have seen a commercial during the Super Bowl that encouraged you to “shop like a billionaire.” That was Temu.
Temu is a Boston-based online retailer that shares the same owner as Pinduoduo, a Chinese e-commerce giant. Temu launched its online shopping site on Thursday and the corresponding app quickly became #1 in the app store.
Temu offers a wide variety of products including apparel, pet supplies, home goods, electronics and more. The idea of Temu is to “shop like a billionaire” without spending like one. A spokesperson from the online retailer told CNN, “Through the largest stage possible, we want to share with our consumers that they can shop with a sense of freedom because of the price we offer.”
Temu’s competitors are Shein, a Chinese fast-fashion, online retailer that has grown in popularity in the U.S., along with Wish and AliExpress, all of which offer large selections of clothing, accessories and home goods at very low prices.
Temu’s main drawback in competing with retailers like Amazon will be its shipping time, CNBC reported. Shipping to the U.S. could take 7-15 business days, Temu said, which is significantly longer than Amazon Prime’s convenient same-day or next-day shipping. Temu’s biggest advantage, and what might draw consumers away from retailers like Amazon, will be its extremely low prices.
