Though they’re not based in the U.S., Temu and Shein have captured the attention of Wall Street because of their potential impact on U.S. tech companies.
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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Amazon to Compete with China’s Slave-Linked Temu, Shein Using Same LoopholesSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Nvidia gets rare Wall Street downgrade on valuation concernsNew Street is raising the alarm on shares of Nvidia after the AI chip giant's June rally.
Read more »
Wall Street banks name 10 UK stocks to benefit from Labour landslide winCiti, RBC, UBS, Jefferies and Investec name housebuilders and FTSE indexes as picks.
Read more »
Fed minutes; Wall Street to close for Independence Day - what's moving marketsFed minutes; Wall Street to close for Independence Day - what's moving markets
Read more »
Wall Street to close for Independence Day, Fed minutes - what's moving marketsWall Street to close for Independence Day, Fed minutes - what's moving markets
Read more »
Trump leads Biden in new polls by New York Times, Wall Street JournalDonald Trump has established a sizable lead over President Joe Biden in the White House race since the two candidates debated last week, according to separate opinion polls published on Wednesday.
Read more »