Temu leads growth in Q3, far ahead of Alibaba and JD.com

Featured image of the article Temu leads growth in Q3, far ahead of Alibaba and JD.com

An article by Morgane Monteiro et Sophie Baqué

Publication

21 November 2024 à 18h12

Updated on 25 November 2024 à 15h26

Reading time

2 minutes

Publication: 21 November 2024 à 18h12, Updated on 25 November 2024 à 15h26

Reading time: 2 minutes

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An article by Morgane Monteiro et Sophie Baqué

Publication

21 November 2024 à 18h12

Updated on 25 November 2024 à 15h26

Reading time

2 minutes

Publication: 21 November 2024 à 18h12, Updated on 25 November 2024 à 15h26

Reading time: 2 minutes

Share
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Against the backdrop of a struggling Chinese economy, challenger Temu continued to grow like crazy in Q3. While JD.com’s e-commerce business returned to growth in China, this is not the case for Alibaba.

On November 21, PDD Holdings (Temu’s parent company) published Q3 figures. Sales reached US$14.2 billion, an increase of 44%, a marked slowdown on the 86%-uplift of Q2. Operating margin jumped by 46% at US$3.5 billion and net margin by 61% at US$3.6 billion. This is US$1 billion less than in...

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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
Featured image of the article Sophie Baqué
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