Economist Podcasts
Money Talks: Why Amazon should be afraid of Temu
Mar 21, 2024
Josh Silverman, CEO of Etsy, joins the conversation to explore the looming competition between Amazon and rising e-commerce star Temu. He discusses how Temu's unique model of low-cost products from China, combined with strong advertising, poses a challenge to established giants. The dialogue dives into Etsy's role amidst this shifting landscape, highlighting its focus on handcrafted goods while navigating aggressive pricing strategies. Silverman also reflects on how emerging players could redefine consumer experiences and market dynamics.
44:12
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Quick takeaways
- T-Moo's direct shipping model from Chinese factories offers duty-free goods under $800, reshaping the US e-commerce landscape with lower prices.
- Etsy differentiates itself from T-Moo by focusing on unique artisanal products and brand loyalty amidst rising competition.
Deep dives
T-Moo and Amazon Compete in Retail Race
T-Moo and Amazon engage in a race to win over customers in America, with T-Moo offering 11,000 beads for $15.29, competing against Amazon's 5,000 beads for £19.99. T-Moo's delivery estimates suggest longer wait times but attract customers with affordable prices. Despite slower delivery, Americans favor T-Moo for cheaper goods, potentially reshaping e-commerce in the US.
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