TechCheck+ Will Temu Kill Amazon? How the Chinese Shopping App’s Rapid Growth Could Crack Amazon’s Dominance 10/13/23
TechCheck
CNBC
4.5 • 66 Ratings
🗓️ 13 October 2023
⏱️ 10 minutes
🧾️ Download transcript
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| 0:00.0 | T-Moo. It's time for another T-Moo Hall. A once little-known Chinese app, |
| 0:08.0 | Look what came in the mail! That has become ultra-popular in just a matter of months. |
| 0:14.0 | I'm gonna need y'all to stop ordering Taimu shi-shi |
| 0:17.4 | by selling the most random items. |
| 0:20.1 | Apparently I bought a bubble gun for dirt cheap. this stuff is four dollars its goal infiltrate the American consumer |
| 0:28.1 | Now I have two hundred dollars worth of stuff from China. So let's see what I got. It's poured millions into Super Bowl ads. |
| 0:34.0 | Download the Tino app and shop like a billionaire. |
| 0:37.0 | And gamified shopping with a literal wheel of fortune. |
| 0:40.0 | It's meteoric rise now threatening retail giants including Amazon. |
| 0:44.4 | It's a threat to everyone including Amazon. |
| 0:47.0 | Which in contrast has barely updated its website in a decade. |
| 0:51.0 | This week on Tech Check we dive into the app taking the country by Storm Timu |
| 0:55.4 | and how it could be the Amazon killer. |
| 0:58.0 | Timu has become the most downloaded shopping app in the United States. |
| 1:03.2 | Timi seems to have come out of nowhere. |
| 1:05.0 | It launched in the US a little more than a year ago, |
| 1:07.6 | but already estimates suggest 15% of American consumers shop on the app with more than 56 million monthly |
| 1:15.1 | users here in the US and likely to generate 13 billion dollars in gross |
| 1:19.6 | merchandise value this year. They've come very quickly as you said zero to three billion GMV in just under and |
| 1:25.0 | Dice value this year. They've come very quickly as you said zero to three billion GMV in just under a year. It has shot past other Chinese apps like Sheehan and Tik-Toc and downloads |
| 1:29.0 | and has grown so quickly that even Amazon is starting to take notice. |
| 1:33.8 | I'm sure you've seen this site, Timu, right? |
... |
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