Temu, a low-cost cross-border e-commerce site based in China, has continued to see rapid sales growth since launching its service in the United States in September 2022. According to a survey by 36kr, sales from January to June 2024 reached approximately 20 billion dollars (approximately 3.1 trillion yen), exceeding the company’s full-year sales of 2023 of 18 billion dollars (approximately 2.8 trillion yen). The first Chinese cross-border e-commerce companies to reach annual sales of $20 billion were Shein, a popular fast fashion company, in 2021, nine years after its launch, and TikTok Shop, the e-commerce feature of the video-sharing app TikTok, in 2023, three years after its launch. Temu has already expanded into more than 70 countries and regions, including North America, Europe, and Asia, and continues to grow rapidly in new markets it enters. For example, in Brazil, it became the most downloaded app just over a month after its launch, with over 5 million downloads in the last 30 days. Brazil is the market with the second highest number of Temu app downloads after the United States. Currently, TEMU’s largest market is the United States, but cross-border e-commerce is facing increasing pressure, including stricter screening for the “de minimis rule,” which exempts small imported packages from customs duties. Temu appears to be planning to reduce the weight of the U.S. market in order to move away from reliance on a single market. According to the American tech media The Information, TEMU wants to reduce the proportion of its U.S. business in its gross merchandise volume (GMV) from the current 60% to 30% by 2024. *Calculations are based on an exchange rate of 1 dollar = approximately 154 yen. (36kr Japan Editorial Department).
>>2 There are still people who say things like this. If something like this happens to you, all you have to do is apply for compensation from your card company. Shopping without tax is really the best.
Temu, Shein, Aliexpress, and other sites that accept credit cards have no security awareness. The recent problem of credit cards being used even after they have been cancelled due to fraudulent use must be the cause of shopping on Chinese e-commerce sites. That’s what it seemed like when I watched the news.
>>14 There’s a reason for this, or rather it’s because the majority of the shipping costs are borne by the postal service of the receiving country. The Universal Postal Convention requires that the receiving developed country bears most of the costs for international mail from a developing country to a developed country. The Chinese EC is also to blame for Japan Post’s huge deficit.
Ah, you probably already know the outcome even without reading the article. China is only interested in short-term profits and cannot manage with a long-term perspective, so it will definitely go bankrupt.
Will this cause Uniqlo’s stock price to fall? It’s just a matter of time before it catches up to Amazon The reign of Amazon and Apple seems to be coming to an end.
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