An online superstore that sells products at low prices offering bargain deals to shoppers has passed Amazon and Walmart as the most downloaded app in the nation.
What is Temu?
Temu is a Boston-based online marketplace founded in 2022 by its parent company PDD Holdings Inc., which owns Pinduoduo, a Chinese e-commerce business selling items that include groceries and appliances.
The company’s name means "team up, price down," according to its website. Part of Temu’s success is driven by selling a variety of affordable products to consumers with prices for items like socks for $0.89, watches for $10.78, dog pet carrier bags for $30.14, and sunglasses for $1.88.
Temu says on its website that it creates a shopping space where consumers and sellers can live their best life in an "inclusive environment."
Temu most downloaded app
A senior analyst with Sensor Tower, an analytics firm, told CNN that U.S. app installations for Temu exceeded those for Amazon, Walmart, and Target in the fourth quarter of 2022. Citing Sensor Tower, CNN noted that Temu’s app collected over 11 million active users.
Forbes noted that Temu’s app ranked No. 1 on Apple’s app store so far in 2023. The company also raised its profile with a Super Bowl commercial touting ways consumers can "shop like a billionaire." Temu also has the backing of celebrity endorsements from singer Jason Derulo and Kansas City Chiefs receiver and Super Bowl champion JuJu Smith-Schuster.
The bargain retailer also offers promotional games that give shoppers credit towards goods and referral codes for special offers.
Not only has Temu established a large consumer base online, but that momentum has carried over to social media, specifically TikTok. The hashtag #temu has over 300 million views and features a marketing campaign where users can get low prices to buy products, according to Forbes.
The company announced on Twitter this month that it's now available in Canada and has a 30% off promotion for new app users.
This story was reported from Washington, D.C.