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EU takes aim at China's Temu and Shein with proposed import duty
Economic Times
·
1y ago
Medial
The European Union is considering implementing customs duties on inexpensive products purchased from Chinese online retailers like AliExpress, Shein, and Temu. The European Commission is set to propose eliminating the current duty-free threshold of 150 euros for online purchases from non-EU countries. This move comes as the EU faces significant challenges in dealing with the high volume of e-commerce and aims to counter the influx of cheap imports. The proposal could accelerate the adoption of new customs reform measures. Neither the EU nor the companies mentioned have provided any official comments on the matter.
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Congressional report says there’s an extremely high risk Temu’s supply chains have forced labor
Apnews
·
1y ago
Medial
A Congressional report criticizes Chinese retailers Shein and Temu for allegedly failing to comply with U.S. laws banning goods made with forced labor. The report accuses Temu, owned by Pinduoduo Inc., of avoiding responsibility and reveals a high risk of forced labor in its supply chains. Shein is also criticized for relying on a trade rule loophole to dodge import taxes and evade scrutiny. Lawmakers are urging increased scrutiny on these retailers and considering changes to the trade rule. Both companies have denied involvement in forced labor and emphasized compliance with laws.
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Temu ditches Chinese imports model to avoid Trump’s tariffs
Economic Times
·
3m ago
Medial
Temu is shifting from a model based on cheap Chinese imports to focusing on local U.S. merchants to avoid tariffs imposed by the Trump administration. This move to a "local fulfillment" model aims to maintain competitive prices for American consumers while circumventing high import taxes. The strategy aligns with improving service levels and supporting local businesses. This shift reflects broader challenges faced by retailers like Shein and Alibaba with soaring import taxes and tariff changes.
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Low-cost ecommerce rivals Shein and Temu shelve US court cases
Economic Times
·
1y ago
Medial
Online low-priced fashion rivals Shein and Temu have filed joint declarations in U.S. courts to end their legal battles with each other. Both companies have been engaged in a global market share battle. The filings did not disclose the reasons for dropping the complaints or if a settlement was reached. Shein had accused Temu of using influencers to make false remarks about the retailer, while Temu alleged that Shein violated U.S. antitrust law. Both companies have disrupted the retail industry with their ultra-fast fashion and low-price shopping models.
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Temu, Shein far lag Amazon as online holiday shopping ramps up
Economic Times
·
1y ago
Medial
Upstart online retailers Temu and Shein are struggling to convert website visitors into actual sales, lagging behind market leader Amazon. While Shein saw a 7.25% increase in monthly visitors to its website, the percentage of visits resulting in transactions declined. Temu, which launched in the US in 2022, experienced a significant increase in visitors, but only 4.5% of those resulted in purchases. In comparison, Amazon had 56% of its monthly visits resulting in purchases. Shein and Temu are aggressively marketing their platforms, but face tough competition from Amazon's established reputation and customer trust.
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Amazon’s newest competitors are stepping into its territory
Livemint
·
1y ago
Medial
Fast-fashion company Shein and TikTok's shopping unit are expanding in Amazon's territory, seeking to recruit Amazon employees and set up workspaces in the same office tower in Seattle. Both companies are bolstering their staff and operations in the US logistics and supply-chain industry. Shein, TikTok, and e-commerce company Temu, all with Chinese roots, are investing heavily in the US online shopping market. This move represents a new threat to Amazon, as these companies aim to replicate its success and challenge its dominance.
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Temu, Shein suspend Vietnam operations amid crackdown on ecommerce platforms
Economic Times
·
8m ago
Medial
Chinese online retailers Temu and Shein have suspended their operations in Vietnam in order to register their ecommerce services with the government. The Vietnamese authorities and domestic businesses were concerned about deep discounting by Chinese platforms and the potential sale of counterfeits. Vietnam demanded that Shein and Temu register by the end of November, or face blocked internet domains and app usage. Temu missed the registration deadline and will have its operations temporarily suspended. Shein's status is unclear, but its Vietnamese website is currently unavailable. The Vietnamese government recently approved legal changes regarding VAT and tax exemptions for foreign ecommerce platforms.
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Amazon’s new focus: Fending off rivals Temu and Shein
Livemint
·
1y ago
Medial
Amazon has identified Temu and Shein as major threats to its e-commerce dominance and is closely monitoring their growth. While Amazon believes its logistics and quick delivery remain advantages, Temu and Shein are expanding in the US and targeting Amazon customers. Temu has become the top advertiser on Meta Platforms in 2023, spending billions of dollars on advertisements. While Amazon can leverage its warehouse network and Prime subscribers as a barrier in the US, defending against competition overseas may be more challenging. Customer trust and speed of delivery remain key focuses for Amazon.
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Behind cheap stuff from Shein and Temu: A hard bargain with suppliers
Livemint
·
1y ago
Medial
Chinese e-commerce platforms Shein and Temu have become popular among small suppliers in China, offering them access to a global market. However, suppliers are facing challenges such as razor-thin profit margins, pressure to cut prices, and high inventory risks. Some suppliers are struggling with unsold inventory and questioning the long-term sustainability of working with Shein and Temu. While the platforms offer opportunities for manufacturers to reach a wider audience, suppliers are grappling with various costs and restrictions imposed by the platforms.
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Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows
Economic Times
·
8m ago
Medial
Walmart, Amazon, Shein, and PDD Holding's Temu had a successful Black Friday and Cyber Monday sales period, outperforming retailers like Target and Best Buy. Walmart saw an increase in sales, with top-selling items including pre-owned Rolex watches and singer Sabrina Carpenter's perfumes. Amazon, Walmart, Temu, and Shein experienced growth in sales during this period, while Best Buy struggled. Despite exclusive merchandise partnerships, Target's sales performance was muted. Overall, ecommerce sites performed well during the holiday season, with record-breaking sales recorded by key players.
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Temu Is Burning Cash to Challenge Shein and Amazon on Black Friday
Wired
·
1y ago
Medial
Temu, a cut-price ecommerce app owned by Chinese giant PDD Holdings, has gained popularity in the US, attracting customers with heavily discounted prices. However, its rapid growth has come at a cost, with sellers reporting warehouse capacity issues and the company struggling financially. Temu is projected to make a loss of around 30-40% per order and has increased its net loss budget to $3.17 billion for 2023. While Temu has been investing heavily in advertising and promotions to compete with rivals Shein and Amazon, analysts are concerned about its ability to turn a profit with its current spending habits.
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