meta_pixel
Tapesearch Logo
Log in
TechCheck

Temu: Amazon’s Rising E-Commerce Competition 10/10/23

TechCheck

CNBC

Disruptors, Cnbc, Investing, Tech, Management, Business, Technology, Faang

4.566 Ratings

🗓️ 10 October 2023

⏱️ 21 minutes

🧾️ Download transcript

Summary

As Amazon’s second sales event of the year kicks off, every day seems like a deal day on e-commerce apps like Temu and Shein. Temu, in particular, is far outpacing Amazon in terms of growth, and might be capturing American shoppers by gamifying the experience. Ben Harburg of MSA Capital joins us to talk about the Temu effect and the rising anxiety that it’s going to displace everyone from Amazon to Dollar Stores to Costco.

Transcript

Click on a timestamp to play from that location

0:00.0

It's Tuesday, October 10th.

0:02.8

Welcome to the Tech Check podcast.

0:04.7

I'm Giergerbosa.

0:06.0

And I'm Mark Gilbert.

0:06.9

Dee.

0:07.7

The story today, it feels like it's Amazon, it's Prime Day,

0:11.4

and the theme that we've been hitting on all this competition in the discount space

0:16.0

You know I had to go back and think how many prime days have we had this year this is the second one and I got to tell you

0:21.4

It's getting harder to keep track of all of them and then there's these copycat shopping promotions

0:26.4

Target I think it's called Circle Day Walmart there's others but today is the official start of Amazon's deal day and something that I find kind of funny

0:36.2

when we were looking at the space is that the Chinese apps they don't even bother with any of these things.

0:41.8

Every day is deal day for Tymu and she and

0:45.5

she and Shion shoppers and so far that has been an incredibly highly effective strategy.

0:51.8

Yeah and then there's there's data to back this up, right, which shows that, you know, if you look at usage,

0:58.0

especially in the US, TIMU is growing leaps and bounds to reach, you know, parity with Amazon right now.

1:07.4

In absolute numbers, of course, you know, Amazon is still a much more penetrated app and has has higher users but if you look at growth if you look at downloads of the apps

1:19.0

you know Timu she and Tik-Tock are catching up.

1:23.6

And I would argue that growth is really what's important here

1:26.8

because T-Moo is an app that just launched a year ago.

1:28.8

It's made all of these inroads.

1:30.5

And then if you look at how quickly Tiamu, which is owned by Chinese company

1:35.4

Pinduoduwuwuwu grew against Alibaba. Remember, Alibaba was the dominant player there, but

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.