Next came Temu. It is a division of PDD Holdings, a global business organization with broad supply chain management experience. Another of PDD Holdings ‘ companies, Pinduoduo, began as a platform to buy raw produce and broadened to another manufactured goods. Temu launched in the United States in September 2022 and in Europe in April 2023, while Pinduoduo operates in China.
Temu uses software to meet China’s production capacity to need in the United States and exceedingly the , rest of the world, in more than 250 item categories. Where Shein has 6, 000 strongly integrated manufacturers, Temu has more than 100, 000, offering a far wider range of goods at breathtakingly low prices. An electric eating dish sells for US$ 2.14 and a dress for US$ 6.18, with free shipping.
Temu attributes these prices to clear shipping through merchants and stores from the factory in China to the American consumer, bypassing both merchants and merchants.
TikTok Shop is another brand-new Chinese marketplace. TikTok Shop uses what it knows about its people ‘ choices to help Chinese companies find global areas by building on the largest market for short-form advertising in the world.
In terms of developing buyer brands, China used to trail behind Japan and South Korea. Many people speculated that China might not have developed the social detail that Japan and South Korea possess.
It turns out that techniques, running on software engineering, can do the job. At a strange rate, China is becoming a household name in both advertising and financial.