The Future Of Online Shopping | CNBC Marathon
CNBC・2 minutes read
Temu is a popular U.S. shopping app known for being cheaper, addictive, and hosting famous creators like Sandler, aiming to grow its user base by 100 million in 2023, with revenue estimates between $236 and $726 per user. Walmart is intensifying its e-commerce efforts to compete with Amazon, focusing on expanding its assortment, attracting more sellers, and investing in speedy delivery programs.
Insights
- Temu, a popular shopping app in the U.S., is aggressively promotional, attracting users with heavily discounted products and addictive features, aiming to grow its user base by 100 million in 2023.
- Walmart, despite intensifying its e-commerce efforts to compete with Amazon, lags behind in market share, investing in initiatives like Walmart Plus and local delivery programs while focusing on expanding its assortment and attracting more sellers to its platform to enhance its online presence.
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Recent questions
What is Temu?
Temu is a popular shopping app in the United States known for being cheaper, aggressively promotional, and addictive. It is compared to the Home Shopping Network for Gen Z and millennials, hosted by famous creators like Sandler. Temu quickly gained popularity due to a substantial advertising budget focused on social media and aims to introduce social shopping in the U.S.
How does Walmart compete with Amazon?
Walmart is intensifying its e-commerce efforts to compete with Amazon, focusing on expanding its assortment, attracting more sellers to its marketplace, and investing heavily in initiatives like Walmart Plus, local delivery programs, and partnerships with Shopify. Despite its vast physical presence, Walmart lags behind Amazon in e-commerce, but is striving to increase its online presence and compete by offering a diverse assortment and attracting more sellers to its platform.
What is the controversy surrounding Temu?
Temu faces scrutiny for potentially selling products made with materials from Xinjiang, China, in violation of US import laws. Some states, like Montana, have banned Temu due to cybersecurity concerns, linking it to foreign adversaries and citing malware issues with Pinduoduo, its parent company.
How does Walmart entice sellers to its platform?
Walmart entices sellers by offering the opportunity to get products on brick-and-mortar shelves, exclusive access to programs like Open Call to pitch products for store shelves, and by expanding its delivery options, including Express Delivery for merchandise within two hours. Walmart is stringent in approving new sellers compared to Amazon, but is investing in attracting more sellers to its platform.
What is the future of livestream shopping in the U.S.?
Livestream shopping's future in the U.S. post-pandemic is uncertain, with Amazon Live and social platforms potentially influencing its longevity. Merchants are resilient and tend to adopt successful strategies, hinting at a possible growth in live selling in the upcoming year. Amazon, TikTok, Instagram, and YouTube have ventured into live shopping, offering creators tools to go live and earn commissions on sales, which may shape the future landscape of livestream shopping in the U.S.
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