The rise of Pinduoduo and Temu: profits and secrets | FT Film

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Chinese e-commerce app Pinduoduo is one of the biggest and most profitable retailers in the world. It is spending a huge amount of money on international expansion through a new app called Temu, which analysts say could disrupt everyone from Amazon to high street retailers. However, the company behind Temu and Pinduoduo is extremely secretive and there are questions about its business model, how it operates and how it communicates with investors. Read more at on.ft.com/49XpGEQ
#pinduoduo #temu #china #ecommerce #ecommercebusiness #amazon #alibaba
00:00 - Pinduoduo is not a normal company
00:58 - What is Pinduoduo?
02:11 - What is Temu?
03:26 - Why are PDD Holdings' finances so opaque?
06:23 - Why is PDD's head office in Dublin, Ireland?
08:54 - PDD's unusual origins and odd corporate structure
12:19 - How does Pinduoduo actually operate?
14:09 - How is PDD funding Temu?
15:33 - Temu, the most important development in ecommerce for some time
17:24 - How does Temu's cross border model actually work?
21:23 - What risk factors does Temu face?
23:55 - Transparency matters to investors, but Chinese manufacturing remains dominant
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Опубликовано:

3 май 2024

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Комментарии : 655

@vjstylo123 Месяц назад

I saw the entire story, it started with we know nothing about PDD and ends with we know nothing about PDD. Holy cow, the story was 30 minutes long !

@NEONNOONE 26 дней назад

That’s why I only watch these stories on double the speed. Just 15 minutes went down the drain.

@wulixiaodesesun2884 20 дней назад

You said what I exactly wanna say, hahaha😄

@jonatanrullman 20 дней назад

Same reason I only read the first and last chapter of a book. I already know the protagonists are going to get through and win. Why waste time on reading like 300 pages of faffing about just to get to the inevitable end.

@candiceevawilliams6 20 дней назад

😂

@whartanto2 13 часов назад

Everything mentioned here is pretty common for a start up with like 3 people (you use registered address of your company secretary, because the "CEO" is sleeping on his mate's couch and working from home. Cycling through VP of Finance may indicate they don't have strong internal control on their finance (expected, given their CEO is ex Google dev, not an accountant). But to say they have 13,000 employees and still run like a 3 person start up is impossible. This smells like FTX where a small group of people make a software that automatically trade billions of dollars without much internal control, running on quickbook as their accounting system. Which is although possible, not very probable, assuming you outsource EVERYTHING other than the website / platform generation. No internal customer service, no internal logistic, no internal HR team, all you do is self serve connection of C2M (Customer to Manufacturer) platform - basically an Amazon site exclusive to chinese factory owners to remove all the middle person re-sellers and their need to advertise. And saying they are founded in Boston... well that is probably knee jerk reaction to Tik Tok ban - this sounds like a company that does not have an internal legal team or any corporate advisors.

@Emc2Eggs Месяц назад

The real mystery has always been why we pay 10-20 times the manufacturing costs of most everything

@joewolfmedia Месяц назад

Labor cost is inflated

@vonoxid Месяц назад

Intermediaries, tariffs Exploitative arbitrators, buying a bicycle saddle for $10 from manufacturer, importing, selling for 7x markup True story, naive Amazon customers baited and looted Also Amazon UX sucks, with intent

@weird-guy Месяц назад

rental costs,labor costs,insurance,electricity,water,taxes ect i´m not a defender of corporation but lets not act ignorant, also temu isn´t profitable and pdd has probably fake profits, amazon is only alive because of the cloud (aws)

@d1p70 Месяц назад

Branding

@incomingincoming1133 Месяц назад

Exactly. I said it before. The real mystery of Temu etc is the mystery of why you were paying so much before...and it's getting clearer that these aren't similar products to what we are used to. They are the same products.

@whitemerlin5737 Месяц назад

I think the realproblem is the price in US is too high. Indonesia also have temu, but the price is not much different with another local online shopping applications. That's why temu isn't growing rapidly here. But US is crazy, once i tried to buy an LED for 4x4 RV in amazon, it cost almost 30 x from my local online aplications

@pohanlee1902 Месяц назад

Fun fact, around one-third of Amazon GMV are made by China-based sellers😃

@xfactor6099 Месяц назад

A lesson of how the USA over inflates her GDP

@marktn9851 Месяц назад

Imagine collecting taxes from a $1 item and from a $30 item. Government should be happy to tax a $30 item.

@dumabel3351 Месяц назад

As a customer, I think the most important thing is price, if I can buy something more cheaper, I can live a more easy life, it is wonderful

@hh0686 Месяц назад

American too greedy

@zakmorgan9320 Месяц назад

I got a TEMU ad before this video. The irony.

@AdoraTsang Месяц назад

That's not what "irony" means.

@zakmorgan9320 Месяц назад

@@AdoraTsang you would be correct if talking about verbal irony, however this would be a case of situational irony for example a fire station burning down. In this case it is the advertisement of a service and then what could only be described as a fairly negative source of information about said service.

@Sanyu-Tumusiime Месяц назад

@@zakmorgan9320damn homie you sound like my 7th grade english teacher

@finn6492 Месяц назад

get an ad-blocker

@-DeadChannel1982- Месяц назад

bro i got one too

@yuweiduan6272 Месяц назад

Me as a former PDD employee gotta say, PDD is really secretive even for its own employee

@infoseeker1187 Месяц назад

If I run business in China, I'd be secretive too, because many Chinese staff are entreprenurial. They work for you for a while, and then will try to start their own venture copying many of your way of business. The turnover for China business is high, so unless you're member of the core team, I'd not want to teach you to compete with me.

@sevenhenson3926 Месяц назад

temu is selling dirt cheap stuff. of course it wont affect most companies, except for amazon. cos a item on temu could be listed on amazon with 10 times its price. resellers cant compete with direct from factory sales

@hathwayh3209 Месяц назад

It's just not really. They usually show a few items that are cheaper at the top of u were to search identical items prices are very similar. The extra price usually gets u better shipping.

@jeffjones114 Месяц назад

@@hathwayh3209 yeah but are you really going to be pay 10 times more for better shipping times? for most items I personally can wait

@ssuwandi3240 Месяц назад

Why need to see Temu in the report . they're just Contractors at best.

@growtocycle6992 Месяц назад

Temu just got bought out. The prices are going to rise. Really, the prices already are almost no different than Amazon.

@ssuwandi3240 Месяц назад

@@growtocycle6992 very. That's why it's Retail sacked 10,000 employees last Dec. They knew not going to make more esp w green warehouses 😂 Abs Joke Government

@Strawberrycake951 Месяц назад

I agree that PDD/Temu is sus, but clarification on the employees not knowing coworkers' real names: In China it's VERY common for Millennials and GenZ's to go by a name that's not their birth name for business or personal reasons. Like if you do trade with foreigners often, you will use "Yasmina Chen" instead of "Chen MengYao." Or if you come from the countryside where it's the cultural norm to name your child terrible names (some believe bad names ward off bad luck, some have rules like "name the child the first thing the mom sees when she births the baby," etc.), you don't want your coworkers to call you PenJi (literally "Bucket Chicken", which is what happened to the popular Yunnan influencer DianXi XiaoGe) so you avoid giving your real name out.

@johnpond3342 Месяц назад

It's common in Internet companys or entertainment business, I can hardly see anyone working in other filds using nickname as it may deemed inappropriate and disrespectful.

@jeffjones114 Месяц назад

yeah cause on wechat everyone changes their names... totally normal but used as scare tactics in this hit piece

@jont2576 Месяц назад

nuts,i do that online sure,everything is behind a moniker or pseudonym.....but imagine telling people in real life oh hi my name is "apimpnamedjagex" in case anyone from china doesnt know what that means, jagex is the name of a video game company, a pimp is a person man or woman, that owns or handles prostitudes.

@Youevilpeoplewillpay Месяц назад

Europeans are the only ones making up s*** about Temu

@hazenetb Месяц назад

This is originated from an alibaba company culture which in Chinese name of “花名“（sounds like "alias" in Mandarin too). E.g. Jack Ma called himself as 风清扬.

@OscarShu Месяц назад

Many ask why the US price is so much higher? The real reason is the currency exchange rate, USD to CNY is ~1:7, the average monthly salary of after tax in the US is about 4000 USD , while in China, it is about 4000 RMB. Basic living things are about the same number, like If you try to buy a can of soda from vending machine, it is 1.5 USD in the US vs 2 RMB in China, a meal outside is about 20 USD vs 20 RMB. Given this background, then a 14 RMB phone case that totally makes sense in China suddenly becomes incredibly cheap for 2 USD. It is that simple. Previously, vendors in Amazon would buy the $2 phone case and mark it up to ~$10 which is still very cheap in the US but now PDD/Temu tries to let those factories sell that $2 phone case to you, just the shipping takes 2 weeks. Finally, the question is why the USD to CNY is ~1:7 in the first place?

@MNTrader2012 Месяц назад

The exchange rate is decided by the Chinese government.

@user-yj8zw7hk6f Месяц назад

@@MNTrader2012 but the same concept applies across the globe. You SIMPLY CANNOT tell Chinese government or any other government to set minimum salary at 1500USD. Its just doesnt work that way. Aaaaand the exchange rate is very much affected by Fed. China gov can only "react" to the exchange rates by printing more/less notes in their account.

@MeiinUK 16 дней назад

You guys are screwing up the world.... Even if the government set that rate for you. We have currency stock exchanges that exchange the volume and rates. So it is dynamic. It is not always 1 to 7..... Stupid... And it must not remain at 1 to 7..... You are making bank rubs. I.e. you are collapsing your own banks.....

@swee78 14 часов назад

@@user-yj8zw7hk6f chinese sellers sell to US customers and get US dollars. they then buy chinese yuan and sell those US dollars to repatriate these earnings. China has a trade surplus for many years (decades) with US. meaning they sell more goods to US than buy from them. economic theory suggests over time, the yuan should appreciate as there is naturally more demand to sell USD to buy yuan. The reason this hasn't happened is because the chinese yuan is not a freely traded currency. instead those surplus USD earnings are kept in USD and reinvested in US dollar assets.

@incomingincoming1133 Месяц назад

Stop manufacturing mysteries. Ppl can sense that you are getting the same items at literally 1/3 the price, and that is quite motivating. Temu etc causes you to question the whole world, and why you have been paying so much in the past. That is the real mystery. And no. These manufacturers did not just 'appear.' Which is more likely: that they rapidly appeared and acquired decades of modern manufacturing expertise, or we were already consuming their products through re-branders. Temu etc is not the rise of a new business. It is the cutting out of the middlemen we recognize.

@Mister.Unknown Месяц назад

Good Citizen 好公民 +1000 Social Credit (社会信用体系) to you ! ! !

@alinaqirizvi1441 Месяц назад

Yh but existing stores like AliExpress have cheaper prices and better delivery timeframes (5-day delivery to Europe)

@ethanwang3507 Месяц назад

Simply because, there was a large markup you paid than the manufacturer got paid. Heard about 'smiling curve'?

@melvinbarnett1910 Месяц назад

Facts. P Diddy, I mean PDD was probably a huge company that was always handling logistics for Amazon and other online companies and decided to just move a player off the board.

@inquisitorofthegodemperor8434 Месяц назад

Agree, no mystery - if anything I would posit it's a branding equation which has allowed them to attain sudden surge in market share through a marketing experiment gone extremely right, no corner of the internet is safe from Temu's ads - they've redefined themselves as the go-to for online shopping of cheap goods

@SamvelRubinyan Месяц назад

We are witnessing a scenario described in the book by Arthur Grandi. When the financial world is based on a weak currency like the dollar, chaos will continue and bubbles will enter the market duplicating the bubble of the financial system. The new formula described in the book "Grand Time" was created to strengthen the financial system and take it to a new level.

@whyamiwastingmytimeonthis Месяц назад

“Weak currency like dollar” lol ok, go ahead and peddle your yuan please😂

@HM-hu4hu Месяц назад

What does Temu have to do with how strong the dollar is? Geez...

@jfrd-pw4hk Месяц назад

"Weak currency like dollar" ---- You need to do your homework, boy.

@SamvelRubinyan Месяц назад

Скоро увидешь, чуточку терпения прояви и всё будет на лице@@jfrd-pw4hk

@MrStarfishPrime Месяц назад

Chinese are mastering now the same mechanisms the western corporations have been using in the last decades. Most of the SP500 are using complex corporate structures using offshoring facilities and tax havens crossing multiple regulators like those Chinese companies are using.

@AskforQAli Месяц назад

It's ok for western companies. But not for any other country. It must be corruption or govt backed.

@choihang8584 Месяц назад

But the Chinese are not allowed to do things this way...dump reporters

@anam.caballerowilson9421 Месяц назад

Actually all products in America is made in Asia. They just shove brands name. Even Apple 😅 costs dependent on type of materials but Temu really good. Surprisingly

@salinadomingo8223 Месяц назад

That true

@djggl1337 Месяц назад

because asian factories are burning their own profit and labor to keep their market shares, to serve us or eu consumers

@user-be1jx7ty7n Месяц назад

Great film as always FT, very grateful for the quality material put out for free.

@Western_Decline Месяц назад

it’s just propaganda designed to make you hate China

@dxd42 Месяц назад

Protectionist American Propaganda 😂

@AntonOfTheWoods Месяц назад

While the actual details of Temu sound fishy, the principle sounds very much like we might finally be getting to something reasonably approaching a proper free market. Producers are in direct contact with consumers, and signals between mean near real-time, near optimal outcomes. While we obviously need accountability, the notion that we have proper accountability with Seychelles-based companies is also pretty silly... Advertising and brands are a bug in the capitalist system, not a feature. If only we could regulate and give transparency/accountability without immediately corrupting the entire system, we might be able to dramatically decrease prices for the masses.

@djggl1337 Месяц назад

The direction of this video is trying to make people sus on temu and pdd for their company & owner structures which, no supprisingly, any listed international company is playing. Well, we are really stupid enough to believe that only chinese companies have bad intension to do this while others like goog, aapl, fb are doing this for good.😏

@toneyeye Месяц назад

I am a buyer from Temu and I have a million questions about the business. I think the people who should be doggedly seeking answers are the SEC in the United States and businesses like Amazon, which may become irrelevant if the current trend continues.

@stormsake Месяц назад

Amazon has been bothering me since 2 years for a package that I have returned but they lost it in the warehouse, they even sued me where they lost the case but obviously it was not enough them to stop asking me the fee for the lost product plus 2 times more fee for the time past. Temu on the other hand did not ask me to return some items I bought, besides not all their products are bad. Electronics are maybe skeptical, but jewellery, textiles like jackets, pants, blankets, house equipment are 8/10. It is certainly disrupting Amazon's monopoly in a good way.

@5magpiesuk Месяц назад

I'm in the UK and for poor people TEMU is a godsend, western high prices are just another TAX on poor people. JEALOUSY is what I'm hearing, nothing more.

@TheHesseJames Месяц назад

Much of the stuff sold in Western consumer markets is stuff you do not actually need. Most of the stuff sold over Temu is also unnecessary nonsense. That's where our incredible progress is reinvested: not in working less hours, not in conserving the environment but in the ability to buy ever more and more stuff. We are crazy!

@umbrellastudio7481 Месяц назад

Finally someone speak the truth! as i see it, every year people from the west should send a Thanks letter to China! who cares how PDD runs their company? without cheap Chinese products, Western world will see the ture inflation!

@vanessat9309 Месяц назад

Exactly! Who needs all this novelty plastic crap? @@TheHesseJames

@SimonAlan-sm6vv Месяц назад

your speech idioms don't sound like someone from the UK

@TZ-pm8ws 29 дней назад

As long as Temu prices are still significantly lower than Amazon prices (of products that are likely produced in the very same factory), so much lower that I am willing to wait a few more days, and to take the risk that it might arrive slightly damanged, they will thrive. And apparently they know this well.

@SpaceWalker2013 Месяц назад

Oh, no, they are now coming after the Pinduoduo after they take down Tiktok……

@jooky87 Месяц назад

These guys just figuring out the basics of e-commerce, wow

@MeiinUK 16 дней назад

We know e-commerce. But we are saying, you are not doing European e-commerce. Because we have actual laws to stop the format that you do inside China... Nobody sells it this way in Europe.... Cos it violates supplier chain laws too....

@EdwinaTS Месяц назад

I was a customer of Amazon UK and I frequently wrote constructive reviews. This attracted many manufacturers to approach me for suggestions. I think Pinduoduo must have utilised this kind of customer-manufacturer feed back and recommendations to other people.

@NanY224 Месяц назад

As a customer, I don’t care how the company structured. If they don’t have a CFO, perfectly, now I know they are helping me to save money as my money doesn’t use to pay a corporate executive. 😅 I like Temu’s business model and it really helps customers not paying unnecessary money out of our pocket..

@JF-ml6lo Месяц назад

The point here is more about investors than customers though. The question is where the market value is coming from.

@weird-guy Месяц назад

This is a finance channel

@UKkenny Месяц назад

you think ?@@weird-guy

@user-hc9lp3hb1r Месяц назад

The financial secrecy behind TEMU is likely to prevent the company from being fined for "dumping". Most countries have "anti-dumping" laws which prevent companies from selling merchandise far below market value just to gain market share. Chinese companies are notorious for doing this in the West to drive competitors out of markets and even out of business in some cases. An additional twist here is that the products are only "below market value" when you factor in the shipping costs to the West which are often more than the product itself. Once they can establish local warehousing in the West those shipping costs will drop dramatically.

@deezeed2817 Месяц назад

This is a lie. Chinese production lines are cheap and efficient, It has nothing to do with "dumping".

@user-hc9lp3hb1r Месяц назад

@@deezeed2817 It has everything to do with "dumping" Yes, Chinese products are cheap and for the Chinese market where shipping is less than $1 they are able to make a profit. But shipping costs to the US are typically more than the product cost so for those products they are taking a loss. This is revealed in the profit-loss graphs presented in the video. That may be dumping since they are taking a loss when shipping costs are taken into account.

@chunyuenlau56 Месяц назад

But don't you still have to pay shipping cost to ship those products to the warehouse in the first place ?

@quentinwilliams1650 Месяц назад

TEMU will never warehouse in the West because then they loose their de minimis exception on imports.

@user-hc9lp3hb1r Месяц назад

@@chunyuenlau56 Local shipping costs WITHIN the US will be a FRACTION of what it costs to ship from China to the US so costs will be much lower.

@108u9 Месяц назад

The real identity of P.Diddy is Puff Daddy

@azioprism3635 Месяц назад

*People want something faster and even cheaper than TEMU, it seems the cycle never ends until everything is free and instant :3*

@mahamadoudiallo589 Месяц назад

The goal is to get market share, kickout competitors and then, increase the price to sell for profits. It is subventioned by the Chinese government for the longterm interest of local manufacturers.

@poopyjoe4016 Месяц назад

what competitors?

@mmikaojONE Месяц назад

This has been my go-to explanation too. Like it's economical warfare against the west. Our companies will fall (massive economic down turn) or be forced to press down the wages and working conditions so steep that it will disrupt the entire fabric of societies and cause massive social upheaval (without any solutions to the original problem). I put my tin foil hat on and say the chinese state (more like a maffia than anything) are both using slave like conditions and also subsidizing the factories and producers of the items being sold. They gladly do it because they know it's chipping away fast at the markets in the west and with it the entire system of resources

@brightlight3520 13 дней назад

@@poopyjoe4016 uh...amazon?

@J20666 Месяц назад

They are very confident that they will be successful in western countries as was in China. The similar story is of the success of TikTok(Chinese version: Douyin) in the west.

@MrCalls1 Месяц назад

17:54 this” had maybe one or two more middle layer”s shows an object with a single middle flap, therefore she recieved half the product, 4 sides, if she received those 2 more layers she would have 8sides of ‘activities’ for her Montessori kid. That sort of falling short of description seems substantial to me.

@shinyshinythings Месяц назад

This is very similar to the way TEMU clothing is made, from what I’ve seen on comparison videos showing what was ordered vs what arrived in the mail. Typically they will copy the image of a dress or other clothing item, often from an independent designer/maker, and display that photo in the ads, while shipping an extremely shoddy copy of the item. The business model seems to rely on everything being so cheap that people won’t bother to return anything, even if it’s completely substandard.

@FenrirRobu Месяц назад

Except that's not what she said. She compared it to a local product of unnamed price (which is strange why the price was left out, mind you) to what she got for 11 EUR on TEMU. This sort of mishearing seems suspicious to me.

@Rvtccc Месяц назад

Wild conspiracy theory, partly a joke and half serious: If you ever read the book "Life 3.0" the introduction begins with a story about a group of data engineers building an AI who starts building a lot businesss with shell companies and shell employees. And ends up running the whole. Maybe it finally happend in real life. Maybe Temu is the AI's first project? 😅

@Kalinskiya Месяц назад

It could be.

@imnothat2185 18 дней назад

No AI is far more kind and generous than pinduoduo. Pinduoduo is very harsh to its employee and sellers.

@brightlight3520 13 дней назад

@imnothat2185 one could say " cold and efficient " like a machine

@litewavve 3 дня назад

I guess we will need more regulations on restricting "unnecessary," "non-durable," and "low cost" goods. I wonder how you define each of the terms.

@blablah9938 Месяц назад

I dont understand, did north American peope never heard of alibaba/aliexpress before? Because in Europe its normal way of buying extra cheap for YEARS so nobody cares about Temu, because its nothing new for us.

@oscarwang1000 Месяц назад

TEMU, based on geopolitical tensions, should try to avoid mentioning its Chinese background as much as possible, and many enterprises are also doing the same.

@vonoxid Месяц назад

Justified, otherwise they get ridiculed by some brain-dead and senile senate committee on what is the internet and Singapore is in China…

@vonoxid Месяц назад

Justified, otherwise they get harassed be some senile senate committee seeking tech support

@deanchristie3829 Месяц назад

When you add in the shipping cost, they (PDD, Temu) are not competitive in the North America market for the average consumer. For a business, maybe. But the quality of Chinese made products is dubious. They are fabulous for the home - Chinese market.

@Sprcd Месяц назад

Seeing this video made me install Temu

@Americunts123 Месяц назад

Read the reviews half are fake, reason to get 100 $ reward, other half are bad reviews.

@ginnox2049 Месяц назад

How is that different than Amazon? A lot of Amazon sellers bought reviews making fake positive claims...some sellers don't even deliver the item after payment, or ship fake or unrelated items.

@unklericky Месяц назад

Could it be possible that Temu or PDD is actually A.I ?

@ldon4002 Месяц назад

It is no longer low price and low quality. With the 7 day no-condition return policy, the quality has become much better. If you do not like what you receive, do not pay and just return with no charge. It is becoming the ideal place for shopping.

@RachelDerGolem Месяц назад

I would like to thank the Uyghur People for working so hard to provide the western world with such great values.

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@elisedepaola4211 2 часа назад

Вот это был нереальный камбэк! Офигенно получилось! Лайк жмякнул))

@victorianiu7135 Месяц назад

headquarter of PDD is in Shanghai. Everyone knows in China

@hh0686 Месяц назад

As an investor, I only care whether I can make a profit out of my investment. I don’t care about Pinduoduo being secretive. Did anyone care about Apple being secretive? I don’t think so.

@AbulaSyllabus Месяц назад

I love the take on the end... the face of those who "positively influence" the society with excellent behaviors that have a very positive impact on society (22:31)! Hahaha... and they get paid to do so by the same social engines that then donate much smaller amounts trying to fight the "problem"... You must be blind not to see the mess. And if you're not, you kinda "Wish".

@jayceh 28 дней назад

Kaifu Lee explained years ago, the Chinese strategy is build the biggest, bloodiest, no-holds-barred arena for competition, and throw a thousand companies in there and let the best ones emerge Those are the national champions. When they go abroad, like Ctrip, Pingduoduo, BYD, etc, they'll find the completion...lacking. US and EU companies are simply not used to the intense levels of competition in China.

@timothyshiu2263 Месяц назад

With inflation soar to the sky. I welcome good quality products at affordable price. I have no problem with discount in subsidies. Cheap is the new standard and help everyone put foods on the table. Economic Tariff and sanction, trade war and alike just cost consumers more money, please let us how that extra money help anyone. Make high cost go away.

@BBshark000 Месяц назад

Yet ANOTHER reason why the West is increasingly more fearful of China - it subverts a lot of what the West has established or believes in. Now the only thing the West has to do is demonise China and hope for the best.

@shasan2393 Месяц назад

Temu makes my “too good to be true” sensors go off

@igorberezin856 Месяц назад

Yet, delivers on its promise every time.

@CommonSense-uj9ip Месяц назад

It set up its store like a game or slot machine haha

@ariellubonja7856 Месяц назад

@@igorberezin856not really. Can find basically the same prices on Walmart. Don’t let those $1 backpack welcome offers fool you

@weird-guy Месяц назад

flood the market by undercutting the competion, gain market, increase price,profits is nothing new unless you are a very young person.

@Youevilpeoplewillpay Месяц назад

@@CommonSense-uj9ipAnd they're selling at the highest levels.

@a675432100 Месяц назад

As long as prices are 20x or 30x higher on Amazon, any claim can be placed on Temu, even accusing it of connection to the Chinese government but the regular customer does not care about such propaganda when the products safely arrives and saves them thousands of dollars per year.

@TheHesseJames Месяц назад

Temu products do not save you a cent. You buy it because it is cheap and not because you need the stuff.

@Paolo040 Месяц назад

How exactly is Temu different from Wish or Aliexpress - solely from a shopper perspective?

@GreatTaiwan Месяц назад

nothing i guess being that a direct competitor to amazon the US is afraid so it will send it's propaganda machines

@ronaldomike Месяц назад

And it ships faster than AliExpress, or how long it used to take AliExpress. Temu use air mail, I think AliExpress now uses more air mail

@Monique097 Месяц назад

A new Wirecard case?

@yoshyoka Месяц назад

How a company with no financial or legal transparency can even be listed eludes my understanding.

@tdtm82 Месяц назад

Temu's advertising campaign is ruthless. They do have a strategic PR on advertising absolutely nailed. However I'm too skeptic to order anything. You guys interviewed me in your magazine and I was and still am very proud of that feature. Keep up with the exceptional work.

@havencat9337 Месяц назад

if you dont have money you will be happy to knw they exist. poor people need low prices

@monipenny408 Месяц назад

in contrast to who? in contrast to Amazon, FB, Ebay? it's a bit like saying China is evil, in contrast to who? in contrast to U$ and UK in their support for Gax Geno side? How pathetic!

@tdtm82 Месяц назад

@@monipenny408 What an odd and incredibly judgemental and wrong statement which does not understand at all my context. Please read again. They have an excellent PR strategy. No way was I being negative to China or making comparisons to us brands. Please learn to read before making stupid assumptions. When something is too cheap I am generally skeptical. I know how hard international distribution is.

@monipenny408 Месяц назад

Incredible PR strategy?...again in contrast to who? In contrast to U$ PR strategy, Temu is no match, in fact nobody can match U$ PR strategy the best in the world. Take it as a compliment!!! The world knows it only too well.@@tdtm82

@DJ_POOP_IT_OUT_FEAT_LIL_WiiWii Месяц назад

it's a dollar store, everything is crap. I rather go to a local dollar store to see just how bad it is before I take a chance on one item.

@myguyingoa2172 Месяц назад

Good to see Dan McCrum, the guy who uncovered German payment processing Wirecard skandal being the skillful investigative financial journalist, fearlessly going at it. Certainly going to keep tracking this companies, temu and pdd.

@GiZeeGis Месяц назад

FT should instead do a documentary to investigate why things in the west cost so much while these companies van make them at a fraction of the cost. Yes the quality of the finished product are poor after sale service, but why do these stuff cost so much in the west?

@jacobs8102 Месяц назад

Because it is not about what something costs but how much we want to sell it for. In the model of C2M, the only brand is Temu, which is much cheaper. So the competition is on utility, not the perceived value through branding. I remember the same phenomenon in Poland when I was young, and Russians were coming to Poland selling cheap Russian products. If you needed a Philips screwdriver, a French key, or cloth for your kitchen, you could get it from there. They were well-made products for a fraction of the cost. The main reason was that there was overproduction in Russia. I believe the same situation exists in China now. Just delivery method changed as the market now is in your phone.

@shinyshinythings Месяц назад

@@jacobs8102And these products are the opposite of well-made.

@Pschokid 8 дней назад

I hate how platforms like these have made it so hard to find a trustworthy seller who; pays workers a living wage, who is producing quality goods and follows environmental regulations

@robbrand922 Месяц назад

PDD is definitely beating BABA in Chinese market.

@jeffjones114 Месяц назад

not really they are not directly competing... PDD is more downmarket, like the lady said in the video, for some items she would never use PDD for

@djggl1337 Месяц назад

I'd say for common products they're very alike in price now unless some big saling activities running

@Youevilpeoplewillpay Месяц назад

China... jlJust building and moving on.

@alvaroga1n 8 дней назад

And I think was she said about companies setting up businesses in Amazon is wrong. Try buying a knife from there and most are essentially fronts shipping Chinese made knifes. This happens with sooooo many product categories. Temp is just cutting out the fake branding and the costs giving the consumer a better experience

@KJ-js7pi Месяц назад

LOL everyone I know who shops at Temu knows its Chinese, consumers are not dumb and the Financial Times is dumb for for thinking we check a company HQ's by looking at the website's About page.

@swillmerchant9886 Месяц назад

i honestly believe by the tonal vehemence of judgement by the team working on this story, that they had bought loads of puts on PDD or have naked shorts on the stock..and it's paying off. it's intended to spook investors really not customers.

@KJ-js7pi Месяц назад

@@swillmerchant9886 Exactly. Least obvious hit piece.

@TZ-pm8ws 29 дней назад

"lack of information... and can't understand it" are problems for FT investigative reporters for sure, but not really a problem for consumers. Our problem is high prices.

@anj000 Месяц назад

So it is just another AliExpress or what? Why are you talking about it as something new? I was buying similar stuff from china, from small toy to smartphones, for 7 years already or something.

@aaron.aaron.v.b.9448 Месяц назад

Facebook is just another MySpace, Google just another Yahoo, TikTok just another Snapchat. The difference between huge success and failure lies in the details and is sometimes even a bit arbitrary. To start with AliExpress' search function was really not the best

@k.k.c8670 Месяц назад

Comparing it to Amazon that has its own warehouses, transportation fleet, expensive workforce etc etc is apples to oranges. Shein and Temu laid those costs on the manufacturers that probably also supply to the likes of Amazon. Could even be 'overflow' goods.

@notabolished1331 24 дня назад

I love the secrecy. Let them keep it up!!!!!!😀

@klarkewang Месяц назад

Chinese big firms need to expand their business into developed market where middle classes have purchasing power. US domestic Amazon will do everything to stop them anyway. Is it a good or bad thing for US consumers, ur bet?

@Paula49419 Месяц назад

Like Amazon, but better 😊

@orien2v2 Месяц назад

What?! How can something so big yet remain so mysterious and legally official? The lack of oversight and scrutiny in business is appalling. They could be a huge laundering scheme encompassing a range of illicit businesses in third world countries and they are getting away with it in broad daylight. Is there no investigation from any authorities?

@mariadaluzmoutinho5701 Месяц назад

Excelente escurtinio que ja me tinha vindo à ideia!! Os mistérios que apelam ao consumo?! Mas a fase de obsessão por consumir e desperdício já não parou?! A música da Temu é irritante ..."compra como um milionário" é algo suspicioso!!As lojas dos Chineses em estado fisico que já tiveram o seu apogeu e encontram-se em declínio...foram estabelecer-se para o online, a qualidade é o defeito!! O virtualismo financeiro a vulso... Porque é que há sempre uma maneira de contornar?! Estando nós mais que esclarecidos ...sobre a necessidade de abrandar o consumo!!? Porquê as economias têm de crescer mais...se cada vez mais os recursos diminuem?! Nada é infinito ...

@MobbJusticeTV Месяц назад

This is all just capitalism at the end of the day. Films like this do a good job of showing how uncomfortable Western players are when players from other parts of the world play the capitalist game better than them. All the inferences of underhanded behaviour by the company in this film could easily be made/transferred onto a number of US and European operators

@UKkenny Месяц назад

well said 👍👍

@freescholar_familytree Месяц назад

You can tell if a company is good for you by going to their privacy policy page and their terms page and doing an in page search for the words "third party" - then look at the text on either side of "third party", to see if it is something you agree with. It will let you know how they share your personal info.

@TubersAndPotatoes Месяц назад

What about the quality and safety of the products?

@aryammansahlot4415 Месяц назад

Amazing film , deserves wayyyy more views please keep making these

@Youevilpeoplewillpay Месяц назад

Why does this video deserve more views?? Because Europeans are questioning Chinese businesses??🤡🥸

@bambinaforever1402 Месяц назад

Fake chinese propaganda. I figured that out after 50 seconds and stopped watching. Also i NEVER endorse anything chinese or made by elon musk

@bambinaforever1402 Месяц назад

@@Youevilpeoplewillpayooo, chinese bot is working for food

@GreatTaiwan Месяц назад

@@bambinaforever1402 with same logic should we do anything against amazon bannign their own employee from using the bathroom i guess that's much worse thou

@UnikumMitsubishi Месяц назад

A Trojan Horse then, impossible to sanction as basic shooping necessity. Aliexpress is alot cheaper in UK, how does that factor in?

@djggl1337 Месяц назад

the profit they burn to serve uk. that's no trojan but self-deprecation as I see it

@havencat9337 Месяц назад

its cheap, you should be happy for people struggling

@UnikumMitsubishi Месяц назад

I am, use it myself! Doesn't mean I can't point out the obvious tho@@havencat9337

@UnikumMitsubishi Месяц назад

I am, I use it all the time @@havencat9337

@xVincentxValentine Месяц назад

"Toy Chinese online bargain store Temu a 'safety risk' for children" Toy Industries of Europe (TIE) concludes this after a sample test. Of the 19 toy products ordered from Temu, NOT A SINGLE ONE met European standards. According to TIE, 18 of them posed a safety risk to children.

@NicolasTRANG Месяц назад

PDD is clearly not the destination for children's goods. Serious parents in China are avoiding PDD.

@daffyduck4195 Месяц назад

I was introduced to Temu just 4 days ago. Yesterday, I bought $87 worth of goods that will come next week. I hope they are good. as they are so low priced.

@colinofay7237 Месяц назад

It won't be, it's just cheap nasty junk. I can't believe anyone buys from temu it's just junk

@shinyshinythings Месяц назад

They won’t be.

@Rio-by1eh Месяц назад

It’s all landfill -

@fontende Месяц назад

It's only the start, by geopolitical errors of Washington which made cheapest electricity to all Ai industry in China (forcing Russia sell all energy supply below market only there).

@fongponto 28 дней назад

PDD seems from a logistical point highly robotized, highly AI driven So no high worker costs on all levels

@Time_Lapse_SA Месяц назад

Dankie Louis.

@alphaTrader.oo1 Месяц назад

I don't understand how OpenAI runs the LLM or the background works yet still using AI everyday

@compactwoodhplcladding Месяц назад

Chinese people can develop millions of TEMUs. This is good news, reducing monopolies.

@SR-pr2xz Месяц назад

Aliexpress is registered in lux and collects vat based on delivery country within EU per the 2021 law. Other ali entities like 1688/taobao no longer deliver to Europe because of that. Taobao is significantly cheaper than Aliexpress. Is this a means to avoid complying with EU tax laws maybe?

@jackjhmc820 Месяц назад

I thought the secret of new business model is asking buyers to take part of fulfilling huge orders? E.g manufacturers only give huge discount like 80% off at this price if they receive 10,000 orders ?

@zeuzsp Месяц назад

ofcoz! Everyone knows by instinct how big the italian economy is

@aaronb8698 26 дней назад

The Securities and Exchange Commission could fix fare labor practices across the global markets with a ratings system of quarterly transparency on auited labor paid conditions and sestanibility practices. There failure to do nothing, they are responsible for continued child slave labor and poverty across the globe with horabaly unsustainable practices. If there rating suck they should pay higher terriffs so there not hurting local employers.

@PhillipAnselRitz Месяц назад

This is a wild true detective story

@honantong Месяц назад

22:20 quite important point

@rodericksasu6976 19 дней назад

Hearing them talk about PDD and just cant help but imagine P Diddy as the man behind it all 😂

@stillakzo Месяц назад

The actual benefactors of hyper consumption are not temu, wish or Shein but the US government and banks. The only way left for US to stay relevant is people loading up more and more debt and people consuming more.

@picketf Месяц назад

If there was anything to this theory why are 5 years investments into KBWD tanking? The banking sector is who's been footing the bill during this low interest period and the overconsumption is securing the future of producers in China. US relevance lies in attracting foreign residents and relying on their cheap labor, steadily increasing housing costs, threatening the world with its military and housing the world's tech companies.

@bm8641 24 дня назад

People in US are asking why prices in US are higher. But they don't ask "why I have two cars on my driveway"? "Why I went in Carraibeans two times this year on vacation? "How come I afford this four bedroom house for a three person family?" Now answer these questions for the regular Chinese worker. Instead of supporting the fellow American worker, the US consumer prefer to send money to the Chinese, all in the name of " is a free world " crap.

@heyimalvin Месяц назад

Crazy times we live in

@shashankverma9512 Месяц назад

Why didn't anyone speak up that they are stealing or private data... the moment anyone downloads their app... why not just allow to buy in their portal with all those deals?

@williamaseng Месяц назад

lol stole data? most consumer datas are available through third party and being sold regularly to merchants. Social medias collect more data than e commerce like temu or amazon.

@havencat9337 Месяц назад

i can give them data like i give to all ther apps! at least this guys give us low prices

@BBshark000 Месяц назад

Don't tell me you're one of those brainwashed Westerner that believes that only the Chinese apps and products "steal" your data in the entire world....😂😂😂

@CrisCheese_ Месяц назад

@@BBshark000well, usa and eu countries at least got laws protecting our data to an extent, china doesnt have any data privacy laws

@BBshark000 Месяц назад

@@CrisCheese_ Ever heard of Eric Snowden?

@NikSan1983 Месяц назад

Robin Zhu looks & sounds like he's a crack international spy who is hiding out as a senior analyst 😁

@stanbimi Месяц назад

McCrum could easily moonlight as a detective on TV crime drama. That's the tone of this "exposé." For people serious about investing in stocks, take the old investment advice: if you don't understand the business don't buy its stock. Simple. For consumers on tight budget, it's all about price-performance. Decoupling from cheap imports means higher inflation.

@silverdragon7952 Месяц назад

I don't think Temu is trying to hide. Companies would only provide information about themselves when they want to get investor company to fund it. And for really for sure profitable companies like Temu, they never lack investors to begin with, so Temu may not need to publicize their sales data.

@lediomemallaj548 День назад

So how did they get approved to be listed on NASDAQ..? Who stamped the paperwork?😭

@tristanboyle4450 Месяц назад

my last package said it was sent from a local warehouse. in Australia.

@cayvem5712 Месяц назад

🚩🚩 everywhere ....

@godzillamothra5983 16 дней назад

PDD is cost cutting the extreme, not even spare cost to hire receptionist.

@tonychenh4142 Месяц назад

Well done FT

@k.k.c8670 Месяц назад

Why would Temu and PDD be so open about their business model, processes and arrangements with manufacturers etc? There are probably dozens of very hungry and very smart entrepreneurs in China who are ready to pounce on them and get a piece of that cake. 😂. Temu / PDD would disclose the bare minimum the regulators would allow them to.