Daily Tech News Show How Temu Keeps Prices Cheap - DTNSB 4958
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Feb 18, 2025 Delve into Temu's clever pricing strategies that keep retail costs low, avoiding sales commissions and leveraging bulk orders. Discover how pinball is evolving by taking cues from video games. Explore the landscape of electric vehicles in Thailand, highlighting some of the most affordable options available. Plus, get a glimpse into exciting tech updates, including Huawei's innovative devices and advancements in foldable technology. The episode takes a closer look at how trust factors into online shopping, especially for DIY projects.
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Temu's Business Model
- Temu's low prices are achieved through a unique business model.
- This model involves bulk orders, social media trends, and no sales commissions.
Pinduoduo's Origins
- Temu's parent company, Pinduoduo, started with group buying on WeChat.
- The platform made bulk orders of items like fruit, passing the savings on to consumers.
Reverse Auction Model
- Pinduoduo uses a reverse auction system with suppliers in China.
- The lowest bidder sends stock to Pinduoduo's warehouse, paying storage costs and taking back unsold items.