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How Shein and Temu Snuck Up on Amazon [Yahoo! Finance]
Last amazon.com, inc. earnings: 4/30 04:01 pm
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army of new workers and expanding the number of Amazon fulfillment warehouses across the U.S. But the tech giant would soon face the biggest threat to its online shopping empire in recent memory, and it would come from an unlikely place: China. Over the last few years, two Chinese-owned e-commerce platforms — Shein and Temu — have quietly become some of the most popular shopping websites in the U.S. Shein specializes in low-end women's fashion, while Temu focuses on home decor and household items — the same type of affordable, made-in-China products that many American consumers have come to associate with Amazon. Temu had 47 million U.S. monthly active users in April, while Shein had 29 million. Amazon clocked in at 66 million, down from almost 70 million in September of 2022 when Temu launched, according to estimates from the market intelligence firm Sensor Tower. Shein and Temu's users aren't just browsing. Shein reportedly earned roughly $45 billion last year, and is currentl
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