PDD's (PDD) Temu and its rival Shein are among the e-commerce site operators expanding further into the toy market in a bid to rake in sales from Black Friday shopping, Reuters reported Friday.
Toys are one of the fastest-growing categories in Shein's shopping platforms with double-digit percentage growth in sales volume year over year, Reuters said, citing a Shein spokesperson.
Meanwhile, Temu reportedly said it is seeing an increase in searches for toys, according to Reuters. The share of US holiday shoppers planning to buy gifts on Temu went up to 13% this year, from 9% a year earlier, Reuters added, citing market research firm Kantar.
Neither Shein nor Temu immediately responded to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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