Chinese e-retailer Temu Launches in the Philippines
Amy 21 Sep 2023 02:20
Temu, a Chinese budget shopping app owned by e-commerce group PDD Holdings, has officially launched in the Philippines as part of its Southeast Asia expansion.
The budget shopping app provider now competes with Alibaba Group's Lazada, Singapore-based Shopee, and TikTok Shop. During its launch, Temu offered up to 90% off on items such as T-shirts, double-sided tapes, and appliances.
The Philippines launch followed Temu's foray into Japan and South Korea last month. According to reports, the Chinese startup is targeting the less wealthy economies in Southeast Asia.
The E-commerce penetration rate in the Philippines is just about 15% according to a McKinsey report. Singapore and Indonesia led the region with a 30% e-commerce penetration rate.
