After a year of massive growth in the U.S., bargain shopping app Temu passed rival Shein in sales. Temu had a 20% higher revenue in May than Shein, according to Bloomberg Second Measure. Temu is an e-commerce marketplace backed by Chinese company PDD Holdings Inc. - Temu has been the top iOS app for much of 2023, based on metrics including downloads, engagement, and retention.
- It had more global downloads in the six months after its launch than any other shopping app.
- It is projected to pass Shein in terms of gross merchandising value in a day by September 2023, which would be the year anniversary of its debut.
- Overall, Amazon is still the top shopping app in the U.S.
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