Temu has already targeted the European food market
The Chinese-rooted Temu is posing an increasingly serious threat to European retail: the online platform offering penny-sized industrial goods is now preparing to expand into food retail on the continent, Economx reports. The news may also shock traditional store chains, as Temu is not only targeting price-sensitive customers, but is also trying to gain a foothold in the FMCG market with its strong capital base and European supplier relationships.
Temu’s conquest: its “thick penny” strategy is working
Headphones for two thousand, T-shirts for a few hundred forints, a pack of socks for the price of a lunch – Temu and its competitor, Shein, have quickly become popular among European online shoppers. The combination of increased price sensitivity due to inflationary pressure and aggressive advertising campaigns has had its effect: despite all regulatory efforts, the platform is expanding unabated.
Now it is entering a new level: it is starting its presence in the food market with the sale of durable food products, but in the future it is not ruled out that – following the example of Amazon – it will also introduce a fresh food offering. The essence of the strategy remains unchanged: low margins, mass sales, and an offering tailored to European needs.
It would build with European suppliers
According to German sources, Temu’s new model is no longer based on deliveries from China, but plans to obtain its supply from local, European suppliers. This would not only shorten delivery times, but would also be able to better serve local tastes and consumer habits – which is a critical aspect in the food market.
Related news
The French government has initiated the suspension of Shein’s online store, while its first physical store has opened in Paris
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Temu and Shein’s European growth slows down
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Csaba Kajdi ordered a special piece of clothing from Temu, this is what he thinks about the site
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >Related news
Producer prices of wheat and corn have decreased – international markets are also under pressure
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >The Hungarian Red Cross and PENNY Hungary launch a national fundraising campaign
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >With 3.1 million QR codes scanned, Tesco Clubcard app ranks among the top 5 most downloaded apps
🎧 Hallgasd a cikket: Lejátszás Szünet Folytatás Leállítás Nyelv: Auto…
Read more >

