Budget e-commerce platform Temu has made its appearance in the Philippines, commencing its expansion into Southeast Asia.
The Chinese-owned, Boston-based marketplace will compete with rivals in the region including Lazada, Shopee, and TikTok Shop.
To mark its debut in the Philippines, Temu has offered up to 90 per cent discounts for various products.
The foray into Southeast Asia came after Temu’s expansion into Japan and South Korea last month. The e-commerce platform started selling to European markets in April and rolled out in Australia and New Zealand in March.
Launched in the US last September, the app is now available in more than 38 markets worldwide. One of its top rivals in Southeast Asia – Shopee – is only present in 11 countries.
Meanwhile, Alibaba announced its US$845 million injection into Lazada last month. TikTok also said in June it would invest billions of dollars in Southeast Asia over the next few years.
Southeast Asia’s e-commerce market is projected to reach US$230 billion in gross merchandise volume by 2026, according to data published by global management consulting firm McKinsey & Co last December.
