BOSTON, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Temu, a leading provider of quality merchandise at the best prices anytime, anywhere, and in any quantity, is excited to kick off 2023 with a renewed commitment to facilitate a new era of demand-driven e-commerce.
Whereas the first few decades of e-commerce have made life significantly more convenient and efficient by removing layers of middlemen and breaking the confines of geography, e-commerce is now shifting from its current supply-led manufacturing model to a new era characterized by consumer-initiated demand and just-in-time production.
To facilitate this emerging model of responsive demand-driven e-commerce, Boston-based Temu (pronounced tee-moo) is stepping up its efforts to build a vibrant ecosystem of merchants, logistics partners, and customers on its third-party marketplace. Temu is committed to helping small and medium business owners to thrive, new brands to grow, and customers to find whatever they need or want at the best price points on its platform.
“Temu is positioning itself at the forefront of the next era of e-commerce, which we believe will move beyond disintermediating or optimizing the manufacturing supply chain, into matching individualized needs and wants with global resources and delivering them efficiently,” said a Temu spokesman. “This shift will lead to the creation of legions of new businesses, and Temu is prepared to support and enable them.”
Founded in September 2022, Temu has captured consumers' imaginations with its affordability, customer service, reliable fulfillment process, and fun year-round activities and promotions. With merchandise across 29 major categories and over 250 sub-categories to choose from, Temu offers a wide array of products for most needs and wants at the best prices anywhere.
As a pure platform model, Temu exists solely to serve the thriving community of buyers and sellers on its marketplace as it does not compete with merchants to sell its own brands to consumers.
Temu has benefited from tapping the resources of its parent company, PDD Holdings, a Nasdaq-listed multinational commerce group that owns and operates a portfolio of businesses, including Temu and Pinduoduo, the social commerce company that Goldman Sachs called “the fastest growing tech company in the world.”
PDD Holdings has more than a decade of experience in commerce. Over the years, it has built a network of over 11 million suppliers and brands globally and fulfillment and logistics capabilities that form the backbone of all the businesses it owns. PDD Holdings serves about 900 million users worldwide and handles 200 million parcels per day through its subsidiaries. In 2021 alone, PDD Holdings fulfilled 61 billion orders.
Temu has leveraged PDD Holdings’ global network of suppliers and partners and economies of scale to source quality products at the best price. It is building upon PDD Holdings’ logistics capabilities to provide the best experience for its customers and merchants.
Using its platform to more efficiently channel consumer needs and preferences to sellers and producers, Temu foresees a new era of demand-driven e-commerce and individualized products as new brands and businesses emerge to meet these new-found needs.
“We believe customers deserve the most value-for-money products with the best customer service and transparency. And we believe that sellers deserve the best reach and exposure to their target customers and first-hand customer feedback,” said the Temu spokesman. “By enabling customers to access affordable products that better match their needs when and where they need them, a sustainable model can be formed to enable individualization more effectively.”
About Temu
Temu is a Boston-based e-commerce platform featuring the widest selection of affordable quality merchandise from global brands, suppliers, and manufacturers. Temu is built on the four core values of empowerment, diversity and inclusion, integrity, and social responsibility, which we believe are integral to the success of our business.
About PDD Holdings
PDD Holdings is a multinational commerce group that owns and operates a portfolio of businesses, including Temu, an e-commerce marketplace for North American consumers, and Pinduoduo, a leading social commerce platform. PDD Holdings aims to bring more businesses and people into the digital economy so local communities and small businesses can benefit from increased productivity and convenience through new opportunities.
