The parent company of bargain e-commerce platform Temu issued a gloomy outlook Monday. PDD Holdings said that sales growth at the Chinese company missed estimates, as the country’s consumers diverted their spending to experiences instead of material goods. The company’s management also warned of challenges ahead amid rising competition and investments. Read More...
The parent company of bargain e-commerce platform Temu issued a gloomy outlook Monday. PDD Holdings said that sales growth at the Chinese company missed estimates, as the country’s consumers diverted their spending to experiences instead of material goods. The company’s management also warned of challenges ahead amid rising competition and investments.
