Momentum Works has just released a new report on Temu's explosive growth since its launch in 2022. This report, prepared for market analysts and industry leaders, highlights Temu's rapid expansion, unique business model, and innovative corporate culture.
- Temu operates in 78 countries and territories as of September 2024.
- It uses a full consignment model, handling fulfillment and advertising for sellers.
- This model lowers costs for sellers, making it easier to achieve profitability.
- Temu fosters a competitive internal culture with practices like "Horse Racing." (Multiple teams compete on the same project and are judged only by their final results!)
- Employees have freedom in their roles with a minimal number of KPIs (even procurement shares GMV/profit targets as the main KPI), with 30%! above-industry financial incentives.
- Temu's leadership is "absolutely consumer-oriented," guiding all major decisions.
- The company maintains a clear structure with minimal office politics.
- Focused KPIs help boost productivity and allow swift responses to market changes.
How will Temu's innovative model influence other e-commerce giants?
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