It is reported that Temu was launched in the Philippines on August 27th, and plans to land in Malaysia, Thailand, Vietnam and Singapore in September.
According to the news, Southeast Asia has always been one of the earliest markets that the Temu team paid attention to. At the beginning of 2022, the team found that the unit price of customers in Southeast Asia was low and scattered, and different countries had unique customs and cultures, so it was difficult to expand by adopting a single replication model. Therefore, the team went online in the US market in September of the same year.
However, in May this year, Temu began to look for supply chain resources in Indonesia and recruited talents who knew Thai. In July, Temu distributed a questionnaire to merchants named “Investigation on Merchants of Cross-border E-commerce Platforms in Southeast Asia, Japan and South Korea”, covering the operation of merchants on Lazada, Shopee, TikTok, Tokopedia and other e-commerce platforms, including products, daily orders, GMV and other details. In August, Temu began to launch a full range of business investment activities in the Southeast Asian market.
With the formal entry of Temu into the market, the competition in the e-commerce market in Southeast Asia will be characterized by the coexistence of Shopee, TikTok Shop, Lazada and Temu.
According to the data of Temu official website, the sales volume of many commodities has exceeded 100,000, and the number of evaluations has also exceeded 10,000. Temu Philippines Station still offers large discounts of up to 10%, various full discounts and free refunds, and the prices of most commodities are kept below 1,500 Philippine pesos (about 200 yuan RMB), which is slightly lower than the mainstream e-commerce platforms in Southeast Asia.
Generally speaking, the entry of Temu will promote market competition. Many cross-border businesses in Southeast Asia also said that they are full of expectations.
Earlier, e-commerce giants such as Shopee, TikTok and Lazada have always occupied the Southeast Asian market. With the global rise of Temu, all three companies have turned their attention to the full hosting mode.
After half a year’s trial operation in the Middle East, TikTok began to launch the full hosting model in the UK in June this year. At present, the single-day GMV of the fully managed project has reached 600,000 US dollars, which is in line with the team’s expectations. TikTok’s CEO Zhou Zi also said that in the next few years, the company will invest billions of dollars in Indonesia and the whole Southeast Asia.
Lazada officially launched the full hosting mode in June this year. After the launch of its Choice channel, there have been tens of thousands and hundreds of thousands of cases of single product sales.
After two months of internal testing, Shopee also launched the full custody business in August this year.
Post time: Sep-04-2023