Chinese sellers on overseas shopping sites, from Temu to Amazon.com, are struggling to turn a profit during this year’s Black Friday sales, as fierce competition and narrowing margins take a toll on their earnings. A clothing factory owner in the southern trade hub of Guangzhou, surnamed Xie, said Black Friday sales at his Temu store … Read more
Amazon.com is inviting select Chinese merchants to join its newly launched “crazy low prices” platform, Haul, as the leading US online shopping platform competes with Temu and Shein to woo budget-conscious consumers. Recruitment is by invitation only for now, but the Chinese vendor community already appears excited about this new channel. A factory owner surnamed … Read more
A WOMAN was terrified to discover South America’s deadliest scorpion running along her skirting boards at home. Payge Aitchison spotted the Brazilian yellow scorpion in her hallway in Wokingham, Berkshire, but has no idea how it got there. 4 The Brazilian yellow scorpion is South America’s most deadly scorpionCredit: SWNS 4 Payge Aitchison discovered the … Read more
Chinese-founded fast-fashion giant Shein saw profits plunge over 70 per cent in the first half of 2024 due to fierce competition from rivals such as PDD Holdings’ Temu, according to a report by The Information. Revenue growth of the Singapore-registered company slowed to 23 per cent during the period, down from 40 per cent for … Read more
TikTok owner ByteDance has been losing momentum in 2024, with slower revenue growth and narrower profit margins for the first three quarters compared with last year, according to local media. Revenue growth “significantly” slowed for the first nine months of the year, while profit margins slimmed for the first time since 2022, Chinese tech media … Read more
Temu’s website in Vietnam, however, showed that the company’s foray into one of the fastest-growing economies in the region was apparently rushed. It currently supports only English as well as transactions made via credit card and Google Pay, while excluding leading Vietnamese mobile payment service Momo. In affluent Brunei, Temu is available in both English … Read more
The job cuts by online fast-fashion retailer Shein at its Singapore headquarters reflect how the Chinese-founded company is grappling with a series of challenges in the cross-border e-commerce business. Shein has laid off 17 employees as a result of restructuring of its global information technology research and development centre, the company said on Thursday. It … Read more
Chinese budget e-commerce platform Pinduoduo, run by Temu owner PDD Holdings, is offering partial refunds of service fees to merchants, after company executives promised to waive 10 billion yuan (US$1.4 billion) in charges. The main point of contention arose over so-called technical service fees, which are essentially sales commissions charged by Pinduoduo for merchants to … Read more
“We’re excited to collaborate with Amazon to offer a seamless and fun shopping experience,” TikTok wrote in a post on Thursday, which did not provide details on how many international markets are covered by this collaboration. TikTok users will see Amazon product recommendations on the app’s “For You” feed, according to the post. In the … Read more
Temu’s efforts to please consumers were borrowed from its Chinese sister platform Pinduoduo, known for cut-to-the-bone deals and easy-to-refund options. That policy has helped Temu grow overseas. Its gross merchandise value surged to about US$20 billion in the first half of this year, surpassing overall sales of US$18 billion in 2023, according to a report … Read more
