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As online shopping becomes more ubiquitous, there’s an app or website that can serve the same purpose as just about any brick-and-mortar store. Of course, Amazon is the leader of the pack — but there are plenty of other successful startups that serve all sorts of niche markets.
And that brings us to one of the most talked-about online retailers of the past several months…
What is Temu?
If you haven’t already downloaded this app, you’ve probably seen some ads or social media posts about it. Temu has only been available in the United States since September, but it’s already become the most downloaded app on both Apple and Google platforms.
As for why there’s been so much interest in the company lately, that’s pretty obvious. It promises a place where cost-conscious consumers can “shop like a billionaire” without spending a lot of cash.
Super Bowl ads cemented its place within the U.S. retail atmosphere and countless social media users have given it even more exposure by documenting the arrival of all sorts of products they ordered from the site.
It’s all about the deal
Comparisons between Temu and the local dollar store have become common --- and for good reason. But some folks think that Temu, which consists primarily of China-based sellers, is actually even better than a store like Dollar Tree.
While the latter opted to raise its prices amid rampant inflation, there are many items available on Temu for less than a buck. And there are also regular deals that give shoppers access to limited-time discounts.
Its business model has allowed Temu to offer great prices so far, but skeptics wonder how long it will last. The company isn’t very transparent about its supply chain, so there’s no real guarantee about the future of this “online dollar store.”
