Relax, take a deep breath. The Chinese Communist Party Congress is over.
There are many significant things from the high-level political assembly to talk about, mostly about understanding what the new party leadership means for China's future, but I'll point you to political reporters who are real experts in all this.
If you missed it last week, there is a new Chinese e- commerce app that is quietly but rapidly growing. The name is Temu. It was the most downloaded shopping app in the US.
It is a big deal for Temu to beat Amazon, Walmart, and Shein, especially since your response is likely What? Temu has never been mentioned to me.
You are part of a good group. The app remains obscure among most people, but it marks another high-profile attempt by a Chinese tech giant to enter the American market.
There is no official guidance on how to say Temu, but I have been saying tee-moo. In 2020, it replaced Alibaba as the company with the most e- commerce customers in China, despite entering a market that had been dominated by the Chinese company for over a decade. Pinduoduo has more active users than the US population and is known for its cheap prices and innovative features.
Pinduoduo hasn't been well known outside the country. How did Temu make it to the top of the store?
According to Juozas Kaziuknas, founder of the e-commerce analyst firm Marketplace pulse, he believes it is driven almost exclusively by ads. That makes me think that there isn't a lot of organic recognition of the brand yet.
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