Despite better Q2 results than Alibaba, Temu reviews strategy

Featured image of the article Despite better Q2 results than Alibaba, Temu reviews strategy

An article by Morgane Monteiro and Sophie Baqué

Add mind Retail to your sources
Publication

27 August 2024 à 14h58

Updated on 9 September 2024 à 16h11

Reading time

2 minutes

Publication: 27 August 2024 à 14h58, Updated on 9 September 2024 à 16h11

Reading time: 2 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
The quarterly results to the end of June for Alibaba (sales up 4%, including down by 1% for retail) and Temu (sales up 86%) worried financial markets. Rising competition from TikTok and other pure-players, combined with a slowdown in Chinese consumer spending, prompted both players to review strategies.

An article by Morgane Monteiro and Sophie Baqué

Add mind Retail to your sources
Publication

27 August 2024 à 14h58

Updated on 9 September 2024 à 16h11

Reading time

2 minutes

Publication: 27 August 2024 à 14h58, Updated on 9 September 2024 à 16h11

Reading time: 2 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
Enjoy this article for free while you’re in your trial period
You have access to our content for 15 days
Explore the mind Retail subscription

Following disappointing Q2 results, Alibaba decided on August 28 to convert the Hong Kong stock market listing (since 2019) to a primary listing. The company’s aim is to strengthen the presence on Asian markets. The move comes against a backdrop of a slowing Chinese economy and falling consumer spending.

You are reading this article thanks to your trial period.
Explore new horizons by checking out our other verticals:
mind Media mind Fintech mind Health mind HR
You are reading this article thanks to your subscription to Mind Retail.
Explore new horizons by checking out our other verticals:
mind Media mind Fintech mind Health mind HR
Do you have information to share with us?
Contact us
Article authors
Featured image of the article Morgane Monteiro
Morgane Monteiro Journalist
Featured image of the article Morgane Monteiro

Journaliste économique pour mind Retail depuis 2024, j’analyse la transformation digitale du commerce.

Featured image of the article Sophie Baqué
Sophie Baqué Chief Editor of mind Retail
Featured image of the article Sophie Baqué
Tags
Our other services
mind Research
Strategic Intelligence: Tailored research and market analysis services to power your insights and back your strategic decisions.
See more
mind Days
Networking & Events: Half-day conferences covering key industry topics and open to the entire ecosystem.
See more
What you absolutely must read this week
The essential content of the week selected by the editorial team.
See all
How retailers are reinventing the checkout
As pressure on household budgets continues, new payment methods including account-to-account (A2A) instant payments, Wero, Buy Now Pay Later (BNPL), loyalty points and cashback, are gaining...
2 November 2026
Julien Cailleau, Oney: “With 3 retailers, we are testing the use of Valiuz data to streamline financing approvals”
Against a backdrop of growing pressure on household budgets, the European CCD2 Directive coming into force and a new legal framework for assisted purchasing journeys, Oney is stepping up an...
29 October 2026
Advantail signs with Formality to streamline commercial lease management
Amid an ownership shake-up following its acquisition by Evoriel, shopping centre operator Advantail has signed with Formality to digitise the management of commercial leases and contracts across...
23 October 2026
US retailers divided over the rise of autonomous shopping agents
In the US, Gap, Walmart, Best Buy, Amazon and eBay are taking very different approaches to agentic commerce. While TV shopping giants QVC and HSN see these new intermediaries as an opportunity to...
21 October 2026
Most viewed articles of the month on mind Retail
What readers clicked on the most last month.
What readers clicked on the most last month.
1
Eric Meulien, Al Futtaim: “The next step in our roadmap is to replace the in-store POS system”
Operating in 18 countries and managing brands such as Ikea, Zara and Marks & Spencer, Emirati group Al-Futtaim (2025 revenue: US$9.7 billion, up by 6%) has a unique vantage point from which to...
12 October 2026
2
Marketplaces: How Orange and Virgin Australia reinvent their value creation models
Looking to turn their audience into a commercial platform without having to carry the risk of holding stock, new verticals are entering the marketplace space, with new models designed to enhance...
8 October 2026
3
How Maison A.Constant built a unified customer database with n8n
Eager to bring together customer data and improve data accuracy, jewellery and watch retailer Maison A.Constant built its own Single Customer Repository (SCR) using n8n, an orchestration platform...
7 October 2026
4
Cashback: Younited secures an exclusive contract with Bouygues Telecom
Following Orange and the launch of a marketplace, Bouygues Telecom is strengthening a customer loyalty strategy by focusing on purchasing power with a new cashback offer. For French fintech...
16 October 2026