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Temu, the US-based shopping app owned by PDD Holdings, announced in a tweet that it has rolled out its services in Canada.
This will give Temu access to Canada’s US$61 billion ecommerce market The platform’s offering a 30% discount to new users in the country.
Launched in 2022, Temu sells products in nearly 30 major categories and over 250 subcategories, including fashion, beauty, electronics, and home goods.
In a short span of time, it has become one of the hottest shopping apps in the US, giving stiff competition to Shein there.
Known for deep discounts, Temu has been ruling the US app charts since September last year. It cuts out intermediaries in the supply chain, passing on the monetary benefit to the end consumer.
PDD Holdings, which also owns Chinese social commerce giant Pinduoduo, has been listed on the Nasdaq since 2018, with a current market cap of about US$121 billion.
See also: Explaining Pinduoduo, and whether the model can work in Southeast Asia
Editing by Thu Huong Le and Dhania Putri Sarahtika
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