Low prices just a lure? Told what the real e-mail could be. the purpose of the Temu store | Business

How 15 minutes As previously announced, Temu is an ultra-low-cost online shopping platform from China. It is one of the largest e-commerce sites in China. the western arm of e-commerce platform Pinduoduo, which sells very cheap products such as sneakers, children’s toys and surveillance cameras, mostly shipped from China to western markets.

According to TVNET, the media is calling billionaire Colin Huang the real beneficiary of this platform. Although Huang is not well known outside of China, Forbes magazine lists him as the third richest person in China, with a fortune of 45.6 billion yuan. dollars.

Last year, this platform expanded its activities to Western countries, in 2022. starting operations in the United States in the fall, and in 2023 in April – in a dozen countries of the European Union, including Poland, Belgium, France and Germany. It is currently available in Lithuanian for Lithuanian buyers.

Temu belongs to the international trade group PDD Holdings. The company has moved its international operations office from Shanghai to Dublin, and Temu is promoting itself in several ways – through aggressive advertising on social media, as well as collaboration with opinion leaders.

The slogan of this platform – “Shop like a billionaire” assumes that the user will be able not to worry about the prices of goods.

The publication “Forbes” has published an article in which it analyzed why the platform “Temu” itself spends on advertising as if it were a billionaire.

The article noted that MediaRadar, a platform that tracks advertising campaigns and spending, found that Temu spent $505 million on advertising last year. dollars.

ALSO READ: Temu, a platform that offers extremely cheap goods, is taking an aggressive path to the hearts of consumers: what is the aim of this?

TVNET took a closer look at the arrival of this platform and its establishment in different markets.