Chinese internet marketplace Temu has launched a multibillion-dollar internet advertising blitz in the US, as it seeks to grab market share from Amazon in the world’s biggest consumer market.
Shanghai-based ecommerce giant PDD Holdings launched Temu in the US in September 2022 and then spent close to $3bn in marketing last year, according to estimates from research group Bernstein. Analysts at Goldman Sachs have found that Temu paid about $1.2bn for Meta advertising alone in 2023.
The huge outlay has vaulted the online marketplace, which offers shoppers cheap goods shipped from China, into the ranks of the biggest online advertisers in the US, alongside the likes of Amazon, Target and Walmart.
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