Temu Statistics 2024: Revenue, Valuation, Growth & Profit

Temu has taken the online shopping world by storm since its launch in late 2022. Owned by the Chinese giant PDD Holdings (parent company of Pinduoduo), Temu is attracting budget-conscious shoppers with its incredibly low prices, fast and free shipping, and features like gamification. This strategy has seen Temu surpass Amazon’s app downloads in April 2024 with more than 46 million global downloads and over 100 million active users in the US alone.

Top Temu Statistics

  • Temu’s website saw consistent growth in 2023, growing an average of 19.3% per month in 2024, and reaching a peak of 503 million monthly visitors in January 2024. (Statista)
  • There was a brief dip in Temu’s website visitors in February 2024 (17% drop to 420 million), but it bounced back by April with 503 million visitors. (Semrush)
  • Globally, Temu has over 516 million app downloads as of April 2024. (AppMagic, via Statista )
  • January 2024 saw the highest number of downloads at 47.74 million, followed by March 2024 at 41.34 million. (Statista)
  • Temu app downloads have been increasing rapidly since its launch in September 2022. Despite occasional dips, like in June 2023, installs of the Temu app grew by an average of 12.2% per month over the last 12 months. (ECDB)
  • A rise in media attention between April and May 2023 saw Temu’s app downloads increase 97% from 15.37 million to 30.31 million. (Statista)
  • The US is Temu’s biggest website traffic source (26.75% from February to April 2024), followed by South Korea, Germany, and the UK. (Semrush)
  • While most Temu website visitors are under 45 years old, users over 59 are the most loyal, placing twice as many repeat orders over a year compared to those aged 18-26. (Similarweb) (Attain, via Bloomberg)

Temu App Download Statistics

Temu’s app has seen remarkable growth since its launch, growing an average of 32% in 2023, and reaching a peak of 47.74 million downloads in January 2024. However, the growth in app downloads has seen occasional dips and fluctuations.

  • As of April 2024, Temu boasts over 516 million downloads globally. (AppMagic, via Statista)
  • Temu app download saw an average monthly growth of 32.2% in 2023. (Statista)
  • Downloads of the Temu app peaked in January 2024 at 47.74 million, followed closely by March 2024 at 41.34 million. (Statista)
  • Increased media attention between April and May 2023 saw app downloads surge over 97% from 15.37 million to 30.31 million. (Statista)

Temu Users & Website Visitors

Temu’s website traffic grew from 217 million visitors in May 2023 to 503 million in April 2024, translating to an average monthly growth rate of 12.3% over the last 12 months.

  • Visitors to Temu’s website grew steadily until January 2024, peaking at 503 million monthly visitors. (ECDB)
  • February 2024 saw a 17% drop in visitors to 420 million, followed by a quick recovery back to 503 million visitors by April 2024. (Semrush)

Temu Sales, GMV, Profit and Net Worth

Earning $290 million in gross merchandise volume (GMV) in 2022, Temu’s first year of operation, sales performance soared to $14 billion in 2023, and is expected to continue growing in the coming years.

  • Temu’s total sales (reported as GMV, gross merchandise volume) soared from its launch in September 2022 ($3 million) to June 2023 ($700 million) when revenue was last reported. (Statista) (YipitData, via ChinaTalk/LinkedIn)
  • Temu’s half-yearly revenue has more than tripled from $317 million in the second half of 2022 to $2.53 billion in the first half of 2023. (Statista) (YipitData, via ChinaTalk/LinkedIn)
  • Temu’s total sales revenue is forecast to continue to grow to an estimated $29.5 billion by 2024, and $40.9 billion by 2025. (ECDB)
  • Temu is currently not profitable, losing an average of $30 per order. (Wired)
  • However, Temu’s parent company, Pinduoduo, announced record net profits in the first quarter of 2024 of $3.88 billion, a 246% increase over the same period in 2023. (Company report, via CNBC)
  • Pinduoduo, Temu’s parent company is currently valued at (has a net-worth of) approximately $302 billion. (Nasdaq)

Temu Audience & Demographics

While the US remains Temu’s largest market with 26.75% of website visitors, other markets are quickly catching up. The app is gaining popularity in regions like Mexico, the Philippines, Colombia, and Saudi Arabia, ranging from 4% to 9% of Temu’s downloads in the last 30 days.

  • The United States remains Temu’s largest market for website traffic, accounting for 26.75% of website visits in the past three months, followed by South Korea (9.45%), Germany (4.89%) and the UK (4.45%). (Semrush)
  • While the United States remains Temu’s largest market by volume of visitors and app downloads, other regions are beginning to surge, with Mexico, Philippines, Colombia, and Saudi Arabia capturing a share between 4% and 9% of downloads in the last 30 days (data as of May 17, 2024). (Statista)(AppMagic)
  • Established markets like the UK, France, and Germany show a continued presence but with a smaller share compared to the US (around 4-6%). (Semrush)
  • While a majority of Temu’s website visitors are under 45 years old, users over 59 are the most loyal, placing twice as many repeat orders over 12 months than shoppers aged 18 to 26. (Similarweb) (Attain, via Bloomberg)
  • Globally, Temu shoppers are slightly more likely to be male (56.4%) than female (43.6%). (Similarweb, Statista)
  • In the US and UK, Temu shoppers are more likely to be female (62%) than male (38%). (GWS)

Temu’s Competitors

As a newcomer to the industry, Temu managed to capture user interest and secure the top spot in the leading shopping apps in 2023 with more than 300 million downloads worldwide.

  • Temu is the third most popular website for online shopping in May 2024, and the 48th most visited website globally. (Similarweb)
  • Temu’s monthly website visitors (503.2 million) falls significantly behind ecommerce incumbents like Amazon (2.172 billion) and Aliexpress (543.2 million). (Similarweb)
  • Shoppers in the US spend more than twice as much time on the Temu app (23 minutes daily) compared to Amazon (11 minutes) as of February 2024. (GWS)

Pinduoduo – Temu’s Parent Company

Pinduoduo, Temu’s parent company, has seen an 81.34% increase in their revenue from $19.19 billion in 2022 to $34.8 billion generated in 2023. (Company data, via Business of Apps)

  • Temu’s parent company, Pinduoduo, has grown from a loss of $10 million in 2016 to a profit of $21.8 billion in 2023. (Statista)

What’s Next For Temu?

Temu’s app downloads are surging, reaching over 290 million globally. Growth is particularly strong outside the US, with regions like Mexico and the Philippines seeing significant download spikes.

While website traffic lags behind competitors, Temu users in the US are highly engaged, spending more than double the time on the app compared to Amazon.

Temu’s revenue is forecast to keep growing, and it’s becoming a major contributor to parent company Pinduoduo’s profits. However, Temu faces challenges in maintaining website traffic and user satisfaction.