EP318 - Temu Deep Dive with Earnest Analytics

EP318 - Temu Deep Dive with Earnest Analytics 

Episode Summary:

In this episode, Jason "Retailgeek" Goldberg and Scot Wingo dive deep Temu, the online marketplace operated by the Chinese e-commerce company PDD Holdings, that has become the fastest growing retailer in history.

Joining us on the episode is Michael Maloof is the Head of Marketing for Earnest Analytics. Earnest works with world-class data partners to acquires, anonymize, and productize insight about the entire U.S. Economy. They have posted numerous insights about Temu in the US this year:

• Feb 28: Temu’s 2024 Super Bowl ad blitz failed to accelerate growth
• March 5: Temu is growing fastest among high income earners
• March 12: Almost half of Wish, AliExpress customers shop at Temu

In this episode we cover who Temu is, how big they have become, who their customers are and what retailers they are likely impacting, their go to market strategy (and especially their marketing spend), the controversy around their use of the Global Postal Treaty, and some of their potential risks. We also explore where they could go next. If you're in the commerce space, you'll want to make sure you are up to speed on Temu.

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Episode 318 of the Jason & Scot show was recorded on Wednesday, March 13th, 2024.

http://jasonandscot.com

Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing.

Transcript

Jason:
[0:23] Welcome to the Jason and Scott show. This is episode 318 being recorded on Wednesday, March 13th, 2024.
I'm your host, Jason “Retailgeek” Goldberg. And as usual, I'm here with your co-host, Scott Wingo.

Scot:
[0:39] Hey, Jason, and welcome back, Jason and Scott show listeners.
Jason, one of the topics that is coming up a lot this year, we talked a lot at a lot in our recap and our preview is Temu.
By many measures, people think they're one of the fastest growing e-commerce companies in history.
If you watch the Super Bowl, I think they spent $8 trillion on ads there.
So we want to do a deep dive into this and cover a number of topics.
We want to talk about a little background around Temu.
What's it mean for U.S. retailers? And, you know, it's a Chinese company.
Does it even matter? If yes, why?
Because Temu isn't public and they are a Chinese company, they don't really disclose any information.
So we wanted to bring on a guest that is basically a Temu expert.
So we looked around and we found Mi