Online deep discounter Temu surpassed Shein by sales in June 2023 according to Earnest credit card data. Temu burst into the US market in September 2022, offering a gamified in-app experience where shoppers piled up discounts by adding items to their carts. The launch corresponded with heavy marketing spend including at the 2023 Superbowl. Temu’s app has helped propel the company to industry leading customer retention rates and customer lifetime value that surpasses Walmart.
Sales growth at the Chinese company fast fashion brand Shein peaked early in the pandemic, but have remained positive in recent months. Download the full report, Quantifying Temu’s Market Entrance with Credit Card Transaction Data, for more details.
