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Tag: Gross Merchandise Value

Chinese platform that encourages customers to “shop like a billionaire” raises $40 billion in Amazon challenge

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Chinese platform that encourages customers to “shop like a billionaire” raises billion in Amazon challenge

Temu, the Chinese discount retailer, is forecast to have a gross merchandise value of $40 billion (£31 billion) as it continues to conquer the Western retail market. Analysts at Jefferies agreed today that GMV – the total value of goods sold through e-commerce platforms – could double by 2024, rising significantly from the roughly $16-17 […]

TikTok and Amazon collaborate on online shopping and intensify competition with Shein and Temu

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TikTok and Amazon collaborate on online shopping and intensify competition with Shein and Temu

“We’re excited to partner with Amazon to deliver a seamless and fun shopping experience,” TikTok wrote in a post on Thursday, which did not provide details on how many international markets will be covered by the collaboration. TikTok users will see Amazon product recommendations in the app’s “For You” feed, according to the post. In […]