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Temu outpaces 2023’s sales in just six months

Temu’s Gross Merchandise Volume (GMV) reached approximately $20 billion in the first half of this year, surpassing the $18 billion total for the entire year of 2023, according to a 36Kr report. Of this, the second quarter GMV was around $12 billion, with the US market contributing about 45%. Last November, Temu set a GMV target of $30 billion for 2024, which was later raised to $60 billion, and plans to reduce the US market’s share from 60% to 30%. However, Pinduoduo subsequently denied these sales figures.

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