📊 Temu’s European growth slowdown
Foxintelligence data shows Temu's market share has stabilized since March 2024.
Growth was fast in Q3 2023, but Q4 2023 was weaker in France, UK, Spain, Italy, and Germany.
Spain saw 1 in 3 online purchases on Chinese marketplaces by mid-2024, suggesting market saturation.
📉 Declining engagement in the US
Apptopia data reveals a slowdown in Temu's new US users, with negative growth starting in July 2024.
Average time spent on the app dropped from 25 minutes per day in March to 21 minutes per day by July.
User engagement has fallen, with a decline in panel users who still use Temu in Q2 2024.
Can Temu bounce back with new strategies in these saturated markets?
