Earnings reports from Amazon, Meta and eBay could all raise questions about the ongoing impact of discount retailers Temu and Shein.
Temu and Shein have exploded in the U.S. by going on an online marketing blitz and offering consumers inexpensive goods from China, whether it's a $3 pair of shoes or a $15 smartwatch.The rise of the discount shopping apps, along with TikTok Shop from China's ByteDance, have generated fresh competition for U.S. e-commerce companies
"We have a saying that it's not hard to lower prices, it's hard to be able to afford lowering prices," Jassy said on the company's fourth-quarter earnings call."The same is true with adding selection. It's not hard to add lower selection, it's hard to be able to afford offering lower ASP selection and still like the economics."whether to close the trade loophole and increase duties on cheap goods, which could dent the continued growth of those platforms.
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Source: CNBC - 🏆 12. / 72 Read more »