According to data company YipitData, the platform’s gross merchandise value (total sales minus expenses) increased from $3 million in September to $192 million in January.
Temu, a PDD Holdings (PDD.O)-owned ultra-cheap e-commerce platform, has begun to sell to European markets, including France, Germany, Italy, the Netherlands, Spain, and the United Kingdom.
In addition to the previously available markets of the United States, Canada, Australia, and New Zealand, the Temu.com website now displays all of these markets on its location drop-down menu.
A request for comment on the expansion from Reuters was not immediately answered by PDD Holdings. Since its September 2018 launch in the US, Temu, a sister site of the Chinese discount e-commerce platform Pinduoduo, has garnered a lot of attention for its incredibly low prices on shoes, jewellery, home goods, and accessories for the face and body.
It is a comparable cross-border business model to the one that helped Shein, which ships to more than 150 nations and has annual sales of more than $58.5 billion, become the largest fast-fashion company in the world.
According to mobile intelligence company Sensor Tower, which also ranks Temu as the most downloaded app on the Apple and Google Play stores in the United States, Temu, which has its headquarters in Boston, saw 19 million U.S. downloads in the first quarter of this year.
According to data company YipitData, the platform’s gross merchandise value (total sales minus expenses) increased from $3 million in September to $192 million in January.
PDD Holdings, the company that also owns Pinduoduo, a well-known social commerce platform in China, is the owner and operator of Temu. Temu’s headquarters are listed as being in Boston.
In September 2022, the platform first went live in the US. Temu enables Chinese vendors to reach US customers directly and conduct business without the need for US warehouses.
Some users who successfully recruit new users using affiliate codes, social media, and gamification receive free products from Temu. From September 2022 to the beginning of January 2023, Temu was the most downloaded app in the US.