Chinese online giants set their sights on U.S. market
November 1, 2022
TikTok owner ByteDance has launched an apparel website called If Yooou and Pinduoduo has opened Temu, an online platform for a wide range of goods. Both companies are looking to replicate the success of Shein in the U.S. market. The moves by ByteDance and Pinduoduo will likely “eat away at Amazon’s share of certain sectors as Shein has done, but ultimately they won’t jeopardize Amazon’s stranglehold on the U.S. e-commerce market,” said Jacob Cooke, CEO of WPIC.
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