PDD - Temu vs. Dollar Stores: Is Alibaba's Competitor Rewriting the Rules of American Retail? | Benzinga
Alibaba Group Holding Limited (NYSE: BABA) rival PDD Holdings Inc's (NASDAQ: PDD) Temu, a rapidly growing Chinese e-commerce platform offering affordable products like $4 home decor and $10 shirts, is challenging U.S. dollar stores, including market leader Dollar General Corp (NYSE: DG).
In November, Temu captured nearly 17% of the U.S. market share in discount stores, trailing Dollar General's 43% and Dollar Tree, Inc's (NASDAQ: DLTR) 28%, Reuters reports.
The rising popularity of Temu has significantly boosted PDD's revenue and stock performance, drawing commendation from Alibaba founder Jack Ma for PDD's strategic execution.
Morgan Stanley chose PDD ...