Chinese language low cost procuring website Temu has entered Vietnam and Brunei after going through a ban in Indonesia.
However its entry into Vietnam was rushed, seeing because the Temu web site within the nation was initially solely out there in English.
It additionally solely accepts funds by bank cards and Google Pay, and no native digital wallets.
The platform stated transport to Vietnam takes 4 to seven days, a lot quicker than the 5 to twenty days for Malaysia or the Philippines, in keeping with Singapore-based analysis agency Momentum Works.
In the meantime, Temu’s Brunei website is accessible in each English and that nation’s official Malay language.
Vietnam was the fastest-growing e-commerce market in Southeast Asia with a 53% year-on-year development in gross merchandise worth final 12 months whereas Brunei has one of many world’s highest requirements of dwelling.
The transfer to increase into these two Southeast Asian nations got here after the location was banned from working in Indonesia earlier this month.
Budi Arie Setiadi, the nation’s Minister of Communications and Informatics, stated on Oct. 1 that the ban is in place to guard native micro, small and medium enterprises from being disrupted, as quoted by CNA.
Indonesia has additionally requested Google and Apple to dam Temu from their Indonesia app shops to forestall it from being downloaded, Reuters reported.
The nation’s e-commerce business is projected to develop from US$62 billion in 2023 to roughly US$160 billion by 2030, in keeping with a report by Google, Singapore state investor Temasek Holdings and consultancy Bain & Co.
Based mostly in Boston, Massachusetts, Temu is a web based market providing quite a lot of merchandise at closely discounted costs. It’s owned by Chinese language e-commerce big PDD Holdings and at the moment operates in over 80 nations and territories.
