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Chinese-owned e-commerce giant Temu dropped tens of millions of dollars on three Super Bowl commercials and offered $15 million in giveaways in hopes of getting a major leg up with US shoppers.

The 30-second ad spots during Super Bowl LVIII — when the Kansas City Chiefs clinched the Lombardi trophy after the game went into overtime against the San Francisco 49ers — cost brands a reported $7 million each, according to Bloomberg.

Thus, Temu spent an estimated $21 million on its three commercials aired throughout the Big Game, which touted the bizarre tagline “shop like a billionaire.”

The online discount marketplace also offered $15 million in giveaways, coupons and other promotions, according to CNN.

Temu — which is based in Boston and owned by PDD, the group behind Chinese online shopping giant Pinduoduo — also paid for two post-Super Bowl advertisements to air during CBS’s late-night programming, CNN reported.

It’s unclear how much Temu spent on its post-game ads.

Temu’s Super Bowl spend had its desired effect, according to Google Trends data, which showed that web searches for the app spiked when the commercials played.

Temu searches had been steadily declining since early July, Bloomberg reported, along with the company’s observed sales, which fell 2.5% month-on-month in December and 4.8% in January.

However, Temu saw impressive growth last year, when it made its Super Bowl ad debut after officially launching in the US in September 2022.

In 2023, Temu’s sales increased a staggering 805% at the start of the year and more than 50% mid-year, according to Bloomberg Second Measure data tracking, a subset of US credit and debit card transactions.

Temu’s explosive growth in January 2023 sales was four times more than the No. 2 spot, Elon Musk’s Space X, and far above e-commerce rival Amazon, which experienced 191% and 1.71% sales increases, respectively.

But in recent months, the number of Americans shopping on Temu has also fallen, according to the Second Measure data, as Temu has developed a reputation for long delivery times, unresponsive customer service and incorrect orders.

The company’s Better Business Bureau profile boasts a dismal 2.5 stars, with customers complaining that the site is a “scam.”

Other shoppers have raised concerns that the Chinese app poses a security threat to Americans. Some even suggested that the company should be barred from advertising during the Super Bowl because of its origins.

“TEMU ads for the Super Bowl. Selling fake products. HP says theyre not their stuff. Orders that never show up,” one X user said. “In what world does it make sense to allow a China, communist, dictator controlled company to compete with Amazon and Walmart? WAKE UP AMERICA!!!!!”

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“Freedom-loving” digital marketplace PublicSquare also weighed in: “Its shocking that we allow Super Bowl commercials from a company like Temu who has a long history of slave labor and funding of the Chinese communist party,” the company shared.

A late-January survey from Morgan Stanley offered cool comfort for Temu’s future: It found that nearly one-third of its users plan to shop less on the app over the next three months.

Only eBay and Etsy had weaker outlooks, according to Morgan Stalney’s findings, which were earlier reported on by Bloomberg.

Margins have declined in recent quarters and are expected to keep declining, according to Bloomberg, as PDD would have to continue offering steep discounts and rebates in order to grow rapidly in the US.

Profitability is a concern. Its just not a priority right now, Morningstar senior analyst Chelsey Tam said.

Representatives for Temu declined to comment on the company’s Super Bowl ad spend.

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Environment

Fiat launches beachy Topolino Vilebrequin as Stellantis ramps up EV production

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Fiat launches beachy Topolino Vilebrequin as Stellantis ramps up EV production

The Fiat Topolino Vilebrequin is a new beach town cruiser that captures the elegance, glamour, and relaxed vibe of the French Riviera. More significantly, the updated EV also heralds Stellantis’ plans to double EV production at its Kenitra Assembly Plant in Morocco.

Closer to a Mercury Villager Nautica or Ford F-150 Harley-Davidson than a new model on its own, the new Topolino Vilebrequin features colors and fabrics inspired by the French surfwear brand, and is based on the Dolcevita version of Stellantis’ electric microcar. With its open sides, a soft rollback roof, and turtle-tastic fabric prints, it’s ready to whisk you off on a carefree summer adventure in France or Italy – which are, coincidentally, the only two markets the “collector’s edition” Vilebrequin Topolino is currently available in.

“This encounter between the Fiat Topolino and our iconic sea turtle gave rise to a high-quality, lower-impact, and perfectly whimsical design,” says Roland Herlory, CEO of Vilebrequin. “(It is) the definitive summer toy, and the perfect witness to sun-soaked memories still to come.”

Like the standard Topolino, the new Vilebrequin model remains electronically limited to a top speed of 45 kph (just under 30 mph), and is equipped with a 5.5 kWh battery pack that ensures up to 75 km (about 45 miles) of electric range. Prices start at €13,490 ($15,810), and if you don’t want one you’re dead inside.

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Fiat Topolino Vilebrequin


The Vilebrequin Topolino is just the latest version of Stellantis’ electric microcar platform that underpins the Citroën Ami, Opel Rocks-e, and Fiat Topolino. Annual production of the little EVs has grown from 20,000 units and is reportedly on track for 70,000 in 2025.

Now, Mopar Insiders is reporting that number is about to get even bigger. Stellantis’ Chief Operating Officer (COO) for the Middle East & Africa (MEA) region, Samir Cherfan, announced plans to more than double the production capacity at the company’s Kenitra Assembly Plant in Morocco, from some 230,000 vehicles per year to more than 530,000.

The factory was opened in 2019, and the planned €1.2 billion ($1.4B) expansion is expected to add around 3,100 new jobs to the factory’s employee roster.

SOURCE | IMAGES: Stellantis.


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Business

Lakeland-owner Hilco eyes swoop for stricken jeweller Claire’s

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Lakeland-owner Hilco eyes swoop for stricken jeweller Claire's

The prolific high street investor which owns Lakeland and has backed chains including HMV and Superdry is sizing up a takeover of the UK operations of Claire’s, the struggling jewellery chain.

Sky News understands that Hilco Capital, which was also one of the recent bidders for Poundland, is among the parties expected to submit offers for Claire’s in the coming weeks, according to banking sources.

Other parties expected to examine offers for Claire’s British chain, which trades from about 280 stores, would include Alteri Investors and Modella Capital, which recently bought WH Smith’s high street chain.

The Telegraph reported earlier this month that Claire’s had hired Interpath Advisory to find a buyer for the UK business as it explores options – including bankruptcy – for its US-based operations.

Prospective buyers of the business have been told that a sale of the British chain could lead to significant numbers of store closures.

One retail industry boss speculated that as many as a third of the UK shops could be axed in a deal to salvage the rest of the chain, potentially putting hundreds of jobs at risk.

Claire’s has been a fixture in British shopping centres and on high streets for decades.

Houlihan Lokey, the investment bank, is advising on the sale of the US arm.

Claire’s, which is reported to trade from 2,000 stores globally, is owned by former creditors Elliott Management and Monarch Alternative Capital following a previous financial restructuring.

Hilco could not be reached for comment on Sunday.

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Politics

Embedding human rights into crypto isn’t optional, it’s foundational

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Embedding human rights into crypto isn’t optional, it’s foundational

Embedding human rights into crypto isn’t optional, it’s foundational

Embedding human rights into crypto systems is a necessity. Self-custody, privacy-by-default, and censorship-resistant personhood must be core design principles for any technology. The future of digital freedom depends on it.

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