Will Temu kill Amazon? How the Chinese shopping app's rapid growth could crack Amazon's dominance

Temu appears unstoppable. Since the Chinese shopping app launched in the U.S. a year ago, it has become the number one e-commerce app in the country, with downloads skyrocketing 50x from 600,000 to 30 million in just one quarter, according to Bernstein analysts. In contrast, Amazon's downloads have dropped off a cliff, falling 40% in a year. Known for wild discounts and dirt-cheap prices that severely undercut Amazon's, Temu has ratcheted up its ad spend to infiltrate the American consumer, set to spend an estimate $2 billion in marketing in 2023. This week on Tech Check, we dive how Temu has hit Amazon's weak spots to take the country by storm.

Chapters:
0:00 – Will Temu Kill Amazon?
0:58 – The Rise of Temu
3:10 – Amazon’s Weak Spots
5:56 – Race to the Bottom?
7:43 – The Trojan Horse
8:42 – You Pay For What You Get

For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

https://www.cnbc.com/select/best-cred...

#CNBC
#CNBCTV