Thailand Post: Temu will Affect Shopee's Market Share
Jayson 23 Aug 2024 09:16
It is reported that Temu's entry into Thailand has profoundly affected the logistics services provided by Thailand Post for other e-commerce platforms, and its parcel volume has dropped by 20-50% every day since July.
Dhanant Subhadrabandhu, president of Thailand Post, said that the logistics activities carried out by Thailand Post for TikTok have dropped by 50% from July to this month.
He said that due to Temu's highly competitive product prices and unique business model, its entry is a serious challenge to the local e-commerce landscape and will affect all parties involved, especially online and offline retailers.
The weakening of consumer purchasing power and the severe economic situation have led to a slowdown in the growth of overall e-commerce activities.
He added that Temu is expected to become increasingly popular among local shoppers, which means that several rival platforms will be affected and their market share will decline.
In order to protect its own interests, Mr. Dhanant said that the company is monitoring Temu's activities in the local market.
He also plans to meet with Temu representatives next month to negotiate potential logistics cooperation.
Dhanant Subhadrabandhu, president of Thailand Post, said that the logistics activities carried out by Thailand Post for TikTok have dropped by 50% from July to this month.
He said that due to Temu's highly competitive product prices and unique business model, its entry is a serious challenge to the local e-commerce landscape and will affect all parties involved, especially online and offline retailers.
The weakening of consumer purchasing power and the severe economic situation have led to a slowdown in the growth of overall e-commerce activities.
He added that Temu is expected to become increasingly popular among local shoppers, which means that several rival platforms will be affected and their market share will decline.
In order to protect its own interests, Mr. Dhanant said that the company is monitoring Temu's activities in the local market.
He also plans to meet with Temu representatives next month to negotiate potential logistics cooperation.
