Temu’s monthly sales in the US nearly surpassed Shein’s in September,My Young Master (2019) Korean movie according to a Tuesday report by Chinese media outlet LatePost. The discount e-commerce platform has already expanded its presence to 47 countries worldwide since it launched in the US last September and has consistently taken the top spot in the Apple App Store and Google Play download charts. As the emerging business has experienced rapid growth, its marketing budget has seen a corresponding increase, with LatePost quoting an advertising agency representative who noted that Temu spent more than $300 million on advertising this August. The report also highlighted that the management team of PDD, Temu’s parent company, had planned for ongoing investment and prepared for a potential three-year period of losses when the Temu project was initially launched. [LatePost, in Chinese]
