How worried should Amazon be about Shein and Temu?
Dirt-cheap products and marketing splurges are catching clicks
“Shop like a billionaire.” With that enticing slogan Temu touted itself to Americans watching the Super Bowl on February 11th. Football fans had been treated to a similar advert from the e-commerce company at last year’s event. But this time the message was hammered home. In all, Temu’s ad played five times. That won’t have been cheap. A 30-second slot during this year’s Super Bowl cost around $7m. JPMorgan Chase, a bank, reckons the company will spend $3bn on marketing this year, up from $1.7bn in 2023.
This article appeared in the Business section of the print edition under the headline “Boxing match”
Business February 17th 2024
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