Chinese e-commerce platforms Shein and Temu have seen significant growth in global users, with Shein's revenue surging over 40% to $24 billion in the first three quarters of 2023. The combined user base of Temu and Shein has surpassed Amazon's user proportion globally, with Temu at 41% and Shein at 18%, exceeding Amazon's 15%. These platforms are reshaping the global online shopping sphere, offering lower prices and new ways to shop. Livestream shopping, a $500 billion industry in China, is also gaining ground in Asia through platforms like TikTok Shop. Chinese e-commerce is expanding overseas, with Shein and Temu becoming global forces, marking a new era for Chinese companies in both manufacturing and selling products.
Sources: Shein's revenue grew 40%+ YoY to $24B between January and September and is likely on track to reach Shein's goal of $32B-$33B for all of 2023, up 40% (@jingyanghk / The Information) https://t.co/AKFKGE69Ul 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/zygX2z8ysj
Despite years of legal wrestling, promises of crackdowns, and anti-counterfeiting tools, Chinese e-commerce sites are rife with imitations of global fashion brands. We followed these counterfeits’ journey from Chinese factories to the streets of Nigeria https://t.co/fRqHo5N75p
News: Two large Chinese internet firms are crushing it in the U.S. @SHEIN_Official is one of them, and unlike ByteDance/TikTok it has a clearer road to IPO. https://t.co/ANKDZ6pkLd @jingyanghk https://t.co/nPlbG5rf4t
Exclusive: Shein’s revenue surged more than 40% to $24 billion in the first three quarters of 2023, highlighting its growing threat to Amazon. https://t.co/KNSx6Mioyb By @jingyanghk
For our new series China: The World’s Shopping Cart, we spoke with factory owners, visited a sorting center in Pakistan, toured a market full of Nigerian counterfeit merchants, and reviewed the weirdest items sold on Temu. Read, watch, and take the quiz https://t.co/wNx8yBzN0l
For decades, China has been the world’s factory. Now it’s the world’s mall, too https://t.co/Ss534ArMYa
🌐 Affiliated with Pinduoduo, Temu shakes up Shopee and Lazada in the Philippines and Malaysia. 🌍 Different model: Cross-border e-commerce on consignment basis with Chinese merchants. 🚢 Longer shipping times but highly affordable products https://t.co/yynAq5BMt4
How China took over the world’s online shopping carts https://t.co/R70YoaySYf
An in-depth look at how platforms like Shein, Pinduoduo-owned Temu, and TikTok Shop are heralding a new era for Chinese e-commerce by expanding overseas (Rest of World) https://t.co/TM8DHLZHkY 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/XVgImcHBHe
Read our new collection of stories about the meteoric rise of Chinese e-commerce China: The world’s shopping cart https://t.co/wNx8yBzfaN
As China’s e-commerce boom ran out of steam at home, companies began looking abroad for customers. Now platforms like Shein and Temu are becoming global forces https://t.co/mVxQqeEl7C https://t.co/h8zNfNEmMN
China has been “the world’s factory” for decades, with made-in-China goods reaching consumers through foreign brands and sites like Amazon. The rise of companies like Temu and Shein signifies a new era of Chinese companies both making stuff and selling it https://t.co/mVxQqeDNi4
Livestream shopping is a $500 billion business in China. Attempts to popularize the format in the West have largely fallen flat, but across Asia there are millions of sellers on platforms like TikTok Shop and Shopee. Watch our new video about the industry https://t.co/uuWFUQcyCe
From wildly popular apps like Shein to counterfeit goods to the rise of livestream selling, China is changing the way the world buys things online. This week we’re sharing a new series of stories, China: The World’s Shopping Cart https://t.co/wNx8yBzN0l https://t.co/kT773DMMYw
Online shopping is changing fast. Chinese platforms like Shein, Temu, and TikTok Shop are gaining ground around the world, bringing lower prices and new ways to shop. Here’s how 🧵 https://t.co/Ss534ArMYa
Livestream shopping is a $500 billion industry in China. As the format spreads across Asia, influencers are forging careers as sellers on platforms like TikTok Shop. For our new video, we traveled to Vietnam, Pakistan, and Indonesia to meet the influencers https://t.co/uuWFUQcyCe
In the last few years, Chinese brands like Shein and Temu have taken over the global online shopping sphere. Our new feature explains how they did it https://t.co/mVxQqeDNi4
💥 In October, Amazon saw 4% YoY growth in global users, while Temu and SHEIN's combined user base skyrocketed to 2.6 times its previous size. U.S. user proportions globally: Temu 41%, SHEIN 18%, surpassing Amazon's 15%. #china #technology #ECommerce #GlobalMarketInsights https://t.co/TMoHuGSo5J
Amazon $AMZN and Shein https://t.co/OqrB6rQNo5