Temu, owned by Pinduoduo, is one of the leaders in online retail that has been ruffling international competitors in the past year. Business analyst Shaun Rein looks for the BBC at the firm’s international expansion. “They’re proud that Chinese companies can slay the e-commerce dragons from the United States like Amazon,” he adds.
BBC:
Temu is owned by Chinese giant Pinduoduo – “a monster in Chinese e-commerce,” according to Shaun Rein, founder of the China Market Research Group.
“Throughout China, everyone buys products on Pinduoduo, from speakers to t-shirts or socks,” he says.
The company consistently trades places with rival Alibaba for the top spot of most valuable Chinese firm listed on a US stock exchange. Its current worth sits at just under $150bn (£117bn).
With the Chinese consumer market under its spell, Pinduoduo expanded overseas with Temu, using the same model that had ensured its previous success. According to Mr Rein, who is based in Shanghai, the firm has become a great source of pride and patriotism.
“They’re proud that Chinese companies can slay the e-commerce dragons from the United States like Amazon,” he adds.
A quick scroll through the Temu app or website will bring up anything from steel-toecap trainers to a device designed to help the elderly and pregnant women put on socks. A menagerie of manufactured goods, almost entirely produced in factories in China, Mr Rein explains.
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at our meeting or conference? Do get in touch or fill in our speakers’ request form.
Are you looking at more branding experts at the China Speakers Bureau? Do check out this list.
