According to a report by Stocklytics, worldwide downloads of the app-based marketplace platform Temu jumped 42% to 55 million year over year in August, a total three times higher than was the case for Amazon, with consumers in the United States responsible for a major portion of application adoption.
In 2024, through September 9, U.S. consumers constituted 27% of Temu app downloads, well ahead of second-place Mexico, which came in at 10%. The report, based on data from Statista and AppMagic, indicated that U.S. consumers initiated more than 200 million, or nearly one-third, of Temu`s total downloads since its release two years ago.
Although Amazon’s business is more mature in the U.S. and some other parts of the world, Temu’s growth is significant as it and other China-based companies continue expanding their retail operations worldwide, including in the United States. Overall, the report stated that 735 million consumers globally have downloaded the Temu app.
In the report, author Jastra Kranjec maintained that the combination of low-cost products, free and fast shipping, and personalized purchase recommendations has enticed inflation-wear and younger shoppers in Western countries and made Temu a serious competition to e-commerce giants such as Amazon and eBay.
Temu’s marketplace momentum has been gaining. Kranjec indicated that the Temu shopping app hit 337 million worldwide downloads in 2023, or nearly 80% more than Amazon managed, with an average of 35 million a month. However, Temu downloads increased significantly in 2024, Kranjec pointed out. Not only did August surpass 55 million downloads but so did May, June and July. By August, Temu had already surpassed the total number of downloads it gained in 2023.
Stocklytics is a stock market and exchange traded fund data and analysis firm. Statista is a market researcher while AppMagic is a service focused on mobile app market intelligence.
