Temu is now the second most visited e-commerce site in the world!
Temu has overtaken eBay to take second place in the rankings of the world's most visited e-commerce sites. Keep in mind that only two years have passed since it was launched, thus becoming one of the fastest-growing websites ever.
This statistic, released by Marketplace Pulse, states that Temu is the only e-commerce company on the top 10 list created in the last decade.
The big players in the global e-commerce sector are well established, and the landscape has not changed significantly in recent years. Shein, Temu's often-compared rival, is close to entering the Top 20.
According to data from SimilarWeb, Temu.com receives nearly 700 million monthly visits. Only a quarter of that figure comes from visits in the U.S. - Temu operates in 79 countries.
By comparison, Amazon.com attracts 2.7 billion visits, almost all from U.S. users. Although it initially sold only in the U.S., Temu is now a global retailer, with the U.S. accounting for only a small part.
Temu is soaring
PDD Holding, owner of Temu, has closed fiscal 2023 with double-digit sales and profit growth. Following the release of the results, the company's shares have risen 15% in value.
PDD Holding, the Chinese group that owns the Temu marketplace, closed the 2023 financial year with a turnover of 247.639 billion yuan (31.6 billion euros), almost double the previous year's figure. Shortly after reporting its results, the company's shares rose 15% in value on the stock exchange, where it has been listed since 2022.
The company's profit has soared to almost double the net result in 2021. Specifically, PDD Holding earned 60.026 billion yuan (€7.6 billion) at the close of 2023, compared to the 31.538 billion yuan (€4 billion) the company earned the previous year.
Although the group has maintained its strategy of not breaking down sales by business line, which makes it impossible to know the weight of Temu in the group's revenues, PDD Holding's platforms, which also include Pinduodo, represent 153.54 billion yuan (19.6 billion euros), compared to the 94.098 billion yuan (12 billion euros) it earns under the heading of “transaction services”.
