Temu - Balancing On The Brink Of Bankruptcy
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- Опубликовано: 25 июн 2024
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Have you heard of Temu? They’ve only been around for 18 months at this point but they’ve risen to be one of the most popular apps and websites in the world. They primarily accomplished this by handing out tech and all sorts of other products for extremely low prices. How is this possible you ask? Well, they simply decided that it was ok to take a massive loss on each and every order to build up market share and make a name for themselves. They’re also backed by the massive Chinese giant that is Pinduoduo. Pinduoduo is also a relatively young company but they’ve exploded within the ecommerce market in China by gamifying the shopping experience. This video explains the story of Temu and how they were able to become one of the most popular e-commerce websites in the world within a matter of just 18 months.
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Timestamps:
0:00 - The Explosion Of Temu
2:22 - Humble Beginnings
5:27 - Making A Name
8:31 - Market Domination
Resources:
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Disclaimer:
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A response from Temu:
At Temu, we prioritize the protection of privacy and are transparent about our data practices. As part of Nasdaq-listed PDD Holdings Inc., an e-commerce group with a market capitalization of $170 billion, we are subject to extensive regulatory and supervisory oversight.
At Temu, we prioritize the protection of privacy and are transparent about our data practices.We collect information with a clear and singular purpose: to provide and continually enhance our products and services for our users.
When disclosing data collection practices, we adhere to the principle of maximum disclosure. If there's a possibility that data will be collected in any given scenario, we disclose it. This is in line with the requirements for developers set by application marketplaces like Apple's App Store. However, when it comes to the actual collection and use of data, we follow the principle of minimality, meaning we only collect and use data necessary for specific, justified scenarios.
Temu is a TrustedSite Certified Secure Site that follows the Payment Card Industry Data Security Standard (PCI DSS) when handling card data by encrypting data in storage and transmission. In addition, Temu never sells customer information and does not receive the card details for transactions that use payment avenues like PayPal, Google Pay and Apple Pay.
Temu has added a permissions section in the Temu app and website to clearly elaborate on what permissions they require to ensure data minimization and transparency.
In November, Temu partnered with San Francisco-based cybersecurity agency HackerOne to offer a bug bounty program. Temu joins the likes of Amazon, Google, Tesla and Facebook in using HackerOne’s platform to connect and reward ethical hackers for successfully discovering and reporting security vulnerabilities. We have also rolled out two-factor authentication (2FA) in November as an additional layer of security protection.
Temu considers privacy and security to be core functions of our platform. Earning and keeping the trust of our users is our top priority, so we hold ourselves to the highest privacy and security standards. We are committed to collaborating with various stakeholders to identify and address vulnerabilities, increasing the transparency of security testing, and ensuring the safety of our businesses and customers. Users can rest assured that shopping on Temu is safe.
@@monkeygalaxy6322 terarded
I just wonder which authority they disclose all their data too. In the US the FBI has ways of getting it from big tech, I'd assume CCP would be just as effective.
@@alexanderberiom3660 Personally, I'd be flattered if the CCCP were interested in in little ol' me and my purchase of a rechargeable combination beard trimmer/knife sharpener.
Yeah yeah sure sure
@@alexanderberiom3660 Its pretty much standard that all companies in Chins are *required* to have relations with the CCP Government, i would argue its a lot worse
I feel like I can alredy predict what is going to happen; temu is going to raise prices after a few years and people will complain, yet they will nontheless keep buying because it is familiar
Facts
@@LogicallyAnswered + it will still be 30% cheaper than amazon
It'll probably still be cheaper than Amazon tho. For the same quality product
theres no brand loyalty to temu, poeple only consistly shop there cause of their prices. as soon as they are no longer the cheapest on the market they will lose shoppers
@@MidrutoYes, and as everyone has said, it will still continue to stay 30% - 50% cheaper. And I bought a knife sharpener from them that is the exact same labelled product that was sold in a big box store, and instead of $26, it was $9. The value you get from Temu is INSANE.
Their marketing worked cause my fam (mostly older) all buy stuff there out of no where, probably the hardest audience to reach and get them hooked and they did it
Hahaha
Who else got a temu ad on this video?
yep
i have adblock...
Mous case
Hahaha
RUclips premium baby. Buy time.
Did anyone else notice the 35 plus million temu spent on superbowl commercials
Certainly sold a crapload of counterfeit goods, didn't they? 🤨
I have a friend who is addicted to temu but Even he admitted that more than half of it is junk and needed to be sent back i honestly believe quality control will be what ultimately kills temu
The whole strategy for Temu is to have ppl buy a lot, and return some. The platform collects the service fees anyway. The factories eat the loss of returned orders. So Temu as a platform always get less impact compared to the factories behind.
And different from Aliexpress, the factories can receive a high volume of orders thus the loss is also minimal. So this really punishes the ones who always produces trash products.
So the QC is not gonna kill Temu. Instead it's how long they can subsidize all the shipping / promotional offers and advertising costs.
U can get quality on temu too!
I bought a fake tesla from temu and I love it.
Hahaha, you mean a byd?
Will last like 15 days until it breaks
Teslow
Lemme guess, it comes with 45W USB fast charge.
But.. did you die?
I am perfectly okay with the Chinese giant getting my data, I want both the Chinese giant and American tech companies compete over me as if I am the most valuable individuals in the whole world
is not you, is the data trail you leave.
@@luisfelipesauvalle5807Let them pretend, ok?
@@luisfelipesauvalle5807 it's a joke
They're collecting a LOT of personal information from users, that data is valuable if you know what you're looking for
It's been collected already by other companies and nothing happened yet
I assure people that Amazon knows more about you and your financial information than Temu ever will. That goes even if you've never purchased anything from Amazon.
@@stellviahohenheim It's one thing if the data is colected by companies and another if it goes straight to CCP's database.
@@Grogueman its the same thing cuz those companies also sell them to the CCP
@@dirremoireBut isn’t Temu currently in a lawsuit for that kind of stuff?
Temu customer support is actually ace, as they just refund you no questions asked, wonder how many people commiting fraud
I’m from developing country in Asia, quite shock while watching shark tank, they said profit margin for an item could be 3-15 times. Yes, its their cost to produce from Asia factory to end user. Even for wholesaler to end user they still could profit 1-3 times. I think its the same price for them to sell wholesaler in US, the difference is build quality. While you buying from your retail store, importer have their own QC to inspect the goods to meet certain standard quality. While you buying on e-commerce, most likely there is not
nobody cares
@@stellviahohenheim i care
@@stellviahohenheim I CARE!
@@stellviahohenheim You clearly care since you commented.
I'm sick of all their ads, they can't disappear fast enough!!
Aliexpress is starting to get expensive... sometimes more than amazon.
That's because China isn't the low wage labor powerhouse anymore. Inflation over there has gotten out of hand, and now they actually have to pay their employees. India is the new China now.
@@meeponinthbit3466goofy clown trying to look smart 🤣 that is not because of inflation 💀
@@Madrinass explain
@@CIOZimbabwe just google china inflation lol they are literally deflating atm 💀
@@meeponinthbit3466 Chinese Economy has gone to shit because China decided to go to War with America. And America businesses decide to leave China because the commies are making it hard to do business in China. Truth is CCP is killing China.
How did they possibly afford THREE superbowl ad spots during the Super Bowl and another one during OT
It was the Temu Bowl
Pinduoduo, the parent company, is worth 128 billion. Temu will be around for awhile.
Have you watched the video?
This video couldn’t have been timed better with Temus ridiculous 5 placements on the super bowl
A lot of those devices and components are downright dangerous- fuses that don't blow, batteries that will puncture, lead contamination, etc.
And it isn't just Temu, either. Amazon and eBay are also infested with these sketchy electronics.
Yes, because the goods sold on all those websites are primarily from the same manufacturers in china
So what do you want people to do? Walk out of their house and go literally buy it in real shops?
see it as dollar shop
@@stellviahohenheim Online shops are fine as long as you can confirm that the seller is reputable. Which isn't easy but it's not impossible. People should stop being willfully ignorant about possible issues low quality products may cause.
@@Allen-L-CanadaIn fairness, I don't recall seeing any extension cords, nightlights, etc. at Dollar Tree that weren't UL or ETL listed.
I like everything about temu minus the human rights violations and the questionable spyware like code within the app. That app has access to things it has no business accessing.
Shein & TikTok are the same, i have those apps installed on my old iPhone SE that i don't use for anything else except those apps, i would do the same with Temu
FAcebook, amazon, apple and every tech companies and websites have ways to track us. the only difference is who we want to give our information an dto whom we do not.
It's not just the app Temu!! Devices on Mac OS and Windows are the same. By default, they collect literally every site you visited, when you did it, what you did next. They collect what app you used, when, for how long, literally everything about it. It's called 'Telemetry.' On both Mac OS and Windows, there are tools that allow you to disable these trackers.
Great video dude. Keep doing you!
FUN FACT: Temu spelled backwards is UMET!
Yes please.
My phone ran slower after I used Temu. Uninstalled, lol
Hahaha
🥴
you being silly, use a useless phone to buy cheap stuff.
Every time I hear about Temu I think about the Arrogant Worms song "Me Like Hockey" specifically the line "Not like Finnish players names
What's a Teemu anyways?"
lolll
Man I love your channel. You have such a relaxing delivery.
🙏
Another excellent video - I actually have never heard anyone explain the success of pin duo duo, so this was great! I wonder what their longevity will be like
the business model of Pinduoduo is really solid. I wish someone would starting something similar in my country (somewhere in Africa)
Ive bought quite a lot from temu. 90% is suprisingly decent for the price
They use unethical labor
...but at what cost really?
@@SuitPlayzsame with apple
What things are you even buying. Most of it is garbage.
Same with amazon
Temu customer support works fine, they give money back if bad product is received. It used to be cheaper when it was starting, now the prices are same as aliexpress
Note: All the currency mentioned in the video is In Yuan, which is around 3 times less than American dollar.
TEMU in Asia and all except a few target markets they really want to get into are not selling with a loss.
I have only one question: how Alibaba/AliExpress managed to crap up so hardly in US (in terms of marketing)? I mean, in eastern Europe and, especially, CIS countries it is one of the, if not the most recognised ecommerce name ever. Literally everyone knows about Aliexpress here, even if never bought from there, people are recording videos about good deals on Ali, and recently they even deployed their own warehouses/delivery centers in Russia, Belarus and Kazakhstan.
What went wrong with US?
Russia is the least favoured nation by the Western hemisphere, explaining why Baltic and Chinese competition is working to get into Russia where the western conglomerates once stood. Never mind their SWIFT competitor "BRICS", which China and Russia started to frequently use.
As for Aliexpress, I'm not sure why they're not popular despite sharing TEMU's marketing tricks. I wonder if it's to do with that Superb Owl advertisement?
It is odd, to be honest. I'm American and I've been using Aliexpress for a while. When I mention it to others, there’s either confusion because they never heard of it, or they were leery because they knew so little about it they thought it was some shady scam or dark web thing. But mention Temu and they know what that is. I avoid Temu myself because I don’t like how it gamifies shopping. Consumerism is already addicting enough without making it into a mobile game.
Aliexpress doesn't have that strong return policy like Temu. Temu also is able to ship a little faster. Although everyone knows about Aliexpress, they aren't able to get that same level of trust that Temu is able to provide.
AliExpress specifically focuses its marketing on developing markets.
Americans are brainwashed about anything from China. Constant propaganda against china has convinced them Chinese companies are evil.
Super offers...!
Just know: Temu, as a Chinese company, is basically just an extent of the CCP.
you saying "shit" woke me up today lol
never expected that one
😂
Lmao so true
I also often get temu ads but they're english and i dont live an english speaking country so i haven't even taken them seriously as i automatically felt like i couldn't order them here
I have to say that PDD’s business model sounds very interesting - thanks for the explanation!
I am likely to celebrate the demise of the Western branch of PinDuoDuo. And yes, that's the parent company, which has been on the US Trade Representative's list of Notorious Markets for Counterfeit Products and Piracy for many years. Based on personal experience, I can say Temu sells low-quality items and copies of merchandise that violate international Intellectual Property law. There are also multiple reports online alleging widespread abusive situations involving the people who actually make the stuff they sell. NOT a company I personally want to be associated with. People really need to get out of the "it's cheap and I want it so I don't care" mindset.
The malware in Pinduoduo was found to leverage specific vulnerabilities for Android phones, allowing the app to bypass user security permissions, access private messages, modify settings, view data from other apps and prevent uninstallation.
Feel like what Temu wants is your data more than actual profit. If they profit, that's icing on the cake for them. So tired of seeing Temu ads. Agree with your point on Temu being to good to be true. I've known people who have had good purchases through Temu, but i won't support it.
Ok, I give up. What makes the data they collect more valuable than what Google, Apple and Facebook already know about you?
@@dirremoire I wouldn't say that its more valuable, but they get everything in house, and they can add their own modifiers as to what they collect. So who knows what they're grabbing behind the scenes with the Temu app, etc.
Temu isn't "sketchy". Everything I've ordered I've received and is pretty much exactly as advertised. It's basically the same stuff sold on Amazon from the same manufacturers only without the dropship middleman Amazon sellers.
It’s incredibly sketchy. It was banned for being malware before being rebranded as temu and still being obvious spyware for the ccp
@@K1Kamikaze It's not spyware if other American companies do the same thing with your data. They are collecting whatever is legal, except, it's for Chinese companies. Good for them, they're doing what American companies are doing for a long time now.
@@K1Kamikaze I see the CCP isn't the only one who likes to spread fake information.
If they are paying for it, lets go all in on it.
Hahaha
I like temu. I don't care if its garbage, its amazon tier stuff for lower prices as you said
Yep pretty much haha
3b$ per year is rookie burn rate in Silicon Valley. If you look at their total revenue, their financial is stellar
Temu is great for small no brand items. If you go there looking for things like an Apple Watch, sure you are going to have a bad time....
How did you glance over the pinduoduo app side hacking other apps encryptions on your devices?
Amazon doesn't GAF about customer service either
"The sketchy online retailer.." When I hear a podcaster say something like this, the only thing I wonder is: Who is paying you? Amazon?
I like Temu. I have been happy with everything I have purchased from them. I think their descriptions are lacking but otherwise I have no complaints.
It's not all counterfeit. Some items are an extract matched to retail store. Same OEM, different label. Whirlpool makes appliances for Kenmore, so is Kenmore products counterfeit? I TEMU for over a year, no issues. I have done 2 returns so far with no hassles. It was smooth and painless. They have not lost or miscount any of my orders. However there are "junk" products on the site, thus the returns. The items was not working as expected.
no because when whirlpool makes kenmore parts they are advertised and sold as kenmore. They are also made to specification. Not stolen IP, stripped down to bare bones, then resold as kenmore
Unless you find the og manufacturers of the legit products it’s all “fake” if you find the manufacturer it’s “real” but without a logo, also China have different tiers of quality they sell the shit that Chinese consumers refuse to buy because of their lower quality
How does this guy release so much content??
I've noticed this too. A lot of channels I follow are uploading more content and faster. I think it's because they are using AI assistance in creating their videos. Not that there's anything wrong with that.
@@dirremoire Nah nothing wrong with that. Just surprising how fast and high quality it is.
I have ordered many stuff and is easy door delivered , first time you shop is crazy cheap but after they will equal market prices but you can’t beat delivery right to door step without having to pay 💰 shipping
I used to buy hardware from aliexpress cause it was really cheap with similar quality compared to original but I noticed recently the average price increased 5 fold, so I stopped.
In my experience, Temu returns are way easier than Amazon. Temu used piggyship on a $500 order I did, and piggyship “lost” the package, then it ended up at my door a week later and I got a full refund.
Happy to say I've never used this. 💯
How did i get a temu ad on this...
This is a fascinating subject
Indeed
This ad is just like Temu itself! Perky, valueless and deceptive. I'm gonna get mine, he's gonna get his, and YOU are gonna get SCREWED.
i live in the Czech republic and no shop has free shipping. on temu, everything is free shipping. and the products sold originate in the same country anyway, China. why buy from 3rd parties and pay more (for the item + the shipping fee) when you can buy direct from the source with 0 shipping costs? It's refreshing to have a different approach,
Because this is a scam and chokehold capitalism scheme
They sell you shitty products made by uyghur slaves ffs
Yes, the products originate from the same country but the BIG difference is that the crap from Temu is DESIGNED and made in China.
The well known brands are made there, under the supervision of the non-Chinese company.
That's why the temu crap will cost you more in the long-run as it needs to be replaced far more frequently, due to the shit design.
Most everyday items are designed in China anyways, and are In no way better than what you can find on Temu
@@lukebruce5234 Read my reply for clarification.
Like social media, that's sad people buying on these websites
Sounds like Jing Yang from Silicon Valley comedy 😂
My uncle says that temu price of product is our shipping price to customer.
Low prices will lead to economic crisis. I support banning them.
I thought they were using the low-cost shipping provided by the US government?
Google ads showing me an ad for temu while watching a video about temu. Lol, wasted at least 4 cents for them
do the yreceive the freeshipping by the International postal thingy?!! and the US and Europe pay for it?
This going so broke they spent millions on advertising between the Super Bowl 🙄
In fairness to Temu customer service, whenever I have had a problem I have been instantly refunded without issue.
I have received almost 10 orders varying from 10 to 80 pounds without any issues so i don't understand why you spread lies about them being scammers
I love logically answered and first comment
Thanks for being early darkslayer :)
Thank-you, I'm a big fan and listen to your videos all the time 😅😅😅
It’s nice he thought no one was doing both social media and shopping (Facebook marketplace has left the chat)
I have made 3 accounts and used all promo BS, bought for few £ and delated accounts after. They lost money on me for sure. I love that. As products are absolutely ridiculously bad there is no point to buy more form them
Wouldn't touch this as an investor (although the market seems pretty infatuated with them given that PDD's market cap has exceeded Alibaba's), an excellent opportunity as a consumer though. One way or the other, their current pricing won't last, either they will go bankrupt or they will at some point start taking care of their margins, and prices will rise. One would be wise to use the opportunity to buy whatever one has been thinking about buying but hasn't got around to yet, particularly small/ cheap items.
Are you pronouncing Tencent as "Tenchant"? Or is there a different company called Tenchant? How do you pronounce "50 cent", as "50 chant"?
I've bought about 10 weapon keychains, all roughly 22cm, all from anime weapons, to game weapons, such as God of war's leviathan axe, every single purchase I've made the items came on time, and were made of good quality metal, I know it's not the same for ever other item on Temu, but there is some diamonds in that rough, and for cheap, just depends on what you're wanting I guess
I would like a link uwu
@asylumfreak349 just type in weapon keychains or sword keychains, and a ton will pop up, they're always updating with new weapons, some are ehh, small and not so good looking, but I found the 22cm weapons, roughly the size of a hand, are pretty well made, I've gotten swords, spears, axes, and even Madara's Gunbai and Scythe from Naruto if you're familiar with him and his weapons, stuff you couldn't normally find elsewhere and if found elsewhere, the prices are so much cheaper, for example, a 22cm sword, can run at like $11 as opposed to $22, it's great
Found the temu shill
@@stellviahohenheim Good work, Jeff. Now you can go back and play with your rockets.
*Meanwhile, TEMU just spent for FOUR SUPERBOWL commercials at 30 million dollars*
Temu is just the new wish
Temu figured out how to top Amazon. Could be big problem.
Got a nice set of Lenovo ear buds that im very satisfied with. They were 6 bucks. No way I would even own a set of ear buds when they are priced at over 50 bucks qnd more. Just not willing to pay over 50 for any item like that even with being able to afford them.
Probably came from the same factory as the expensive ones.
Oh god i was begin for a non Temu ad during the video...God is dead.
Well when talking about that switch deal I think that was crap advertisement. I mean, it was trying to trick everyone into thinking that they could get a switch just like so and then surprised, in reality it was mostly impossible to buy it.
His earlobes are attached
The main issue with temu is that aliexpress and amazon are better in most cases the only issue is Aliexpress is shipping times but besides that Temu is worse.
how they afford 3 superbowl commercials?
Interesting retail model, disrupting ecommerce giants who got lazy and greedy with pricing, quality and value.
Amazon competitor
Hail hydra
Hail hydra
I wish i could get a Nintendo Switch that cheap!!
Price rise and internal conflict and companies goes bankrupted. Since sony merge the stream service they raise the price while shutdown other company.
Hello
I shop at aliexpress alot. Tried temu - di not find what I need, and what I did find, was more expensive.
I guess it's just an american thing, as you guys are discovering china after amazon. But I can't see anything better than aliexpress.
for example look for lcd screen for xiaomi mi6... There are none.
The bargain bin aliexpress... which is already the bargain bin amazon (though all 3 share 90% the same products let's be honest)
bought once knowing the quality and regretted it, deleted temu and shein and all chinese waste makers
Temu will only hamper those dropshipping seller who used to buy from chinese company like wish and alibaba and sell it foe higher price in amazon.
They came out of no where and gas gas gas
I mean the wish business model hasn't worked for good reasons. The targeted audience is basically impossible to reach profitably.
Also it serms like youtube thinks it'd be a good idea to show me a temu ad on this video every once in a while.
What ever happened to common legal sense? It is completely illegal to sell at a loss to undercut competitors. If they do not want to play by the rules they should be banned from the U.S. market! Why is no one pursuing this legally? I mean Walmart and Amazon!
The entire Chinese economy is built around predatory pricing and government subsidies for everything of value - and the rest of the world sit by and let it happen. It's fundamentally why the Chinese economy is teetering now - you can't get the people to consume more when you're taking all the money they earn and pouring it into manufacturing subsidy.
Nah I'm good.. I only buy cheap stuff like cable ties, snack bag clips, rags etc.. No electronics.. No clothing
Not to mention the slave labor :/
We don't have temu thnx
Temu nothing in EU
Temu gaurantees delivery or u get a refund.
Temu, exactly like tik tok, are just tools specifically made to collect data. Perhaps their only purpose
Temo is a Chinese owned company that has been in business for years with very strong capital. It's goal is to destroy it's competition and collect as much personal user information as possible. The worst thing is that the Chinise goverment has the money to support that, while US government is allowing it.
I hate greedy people who at their 20s had enough to live 10 lives but still went out and worked to make more...
Bcs more is better,right?
🤮🤮