Source : makeuseof
Temu is an affordable online marketplace. Learn what Temu is, who owns it, and how why it’s worth looking at for your next online purchase.
Everyone wants to save money on their online purchases, and this is always easiest if you buy your products from the right place. Temu can help you to get great deals, but how does it work and what does Temu mean?
What Is Temu?
Temu is a digital marketplace featuring countless products in over 250 categories, all for some of the best prices you can find online. The website aims to create a safe and inclusive environment for buyers and sellers to work with one another, giving you the chance to shop with confidence without compromising on the low prices you want.
Alongside offering loads of great value products, Temu also works hard to protect its customers. You can shop with payment providers like PayPal, Apple Pay, and Google Pay, and the website’s payment system is PCI-certified.
Temu also hosts regular seasonal sales and promotions that make the products on the site even more affordable. You can often get free delivery and improved savings (up to 90% off) when shopping on the marketplace. And you don’t have to search for these savings; Temu puts them right in front of you.
With all of this in mind, Temu is easily one of the best online marketplaces available today, but what does Temu mean and how do you pronounce it?
Who Owns Temu?
Temu is owned by PDD Holdings, a NASDAQ-listed commerce group with a market cap that exceeds $120 billion. PDD Holdings has global sourcing, logistics, and supply chain capabilities that it lends to its portfolio of businesses to allow them to offer low prices to its customers.
PDD Holdings handled around 61 billion orders in 2021 alone, spanning products from more than 11 million suppliers from around the world. Both Temu and PDD Holdings have great reviews and a sterling reputation with their existing customers and sellers. In the 12 months leading up to September 30, 2022, the group posted revenue of $17 billion and $5.2 billion in profit, with $17.2 billion of cash.
What Does Temu Mean?
Temu means “team up, price down”. This name reflects the brand’s core philosophy of teaming up with other consumers to increase your buying power to bring down the price of the products you buy.
The more Temu users that buy an item, the more the manufacturer will produce, ultimately lowering the price for each user thanks to economies of scale. This ensures that Temu’s most popular products also have the lowest prices.
How Do You Pronounce Temu?
If you want to help your friends and family to benefit from the savings on this marketplace, tell them to visit “tee-moo”. This is the official pronunciation offered by the brand itself, so you can’t go wrong.
How and Why Is Temu So Affordable?
There are millions of low-price products available on Temu, but how is this marketplace so affordable? In part, Temu’s unbeatable deals are thanks to its massive user base, with huge groups of customers working together to increase their buying power.
Of course, though, this isn’t the only secret to Temu’s affordability. The brand’s parent company also plays a significant role in keeping prices down, giving users like you the chance to find deals like never before.
