(Bloomberg) -- Temu, the bargains shopping app that in just over a year has overtaken Shein in the US, is considering reprising its Super Bowl appearance in 2024.
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The company, owned by China’s PDD Holdings Inc., is in talks to again buy an ad spot following a splashy debut this year that introduced its youth-oriented shopping service to millions of American consumers. Negotiations aren’t finalized, a spokesperson for the company said.
The talks, first reported by the Wall Street Journal, underscore Temu’s aggressive approach to taking market share from Shein and Amazon.com Inc. on its home turf. It ran two 30-second spots in 2023 featuring a youth dancing to phrases like “Cha-ching! I feel so rich, oh yeah” — in what’s now viewed as Temu’s unofficial coming-out party.
Super Bowl spots like Temu’s “Shop Like a Billionaire” typically cost millions to produce and air, but many brands consider them essential exposure. PDD in particular has stuck with a model of aggressive marketing and promotions both at home, where it’s challenging Alibaba Group Holding Ltd. and JD.com Inc., as well as abroad.
Read More: PDD Surges 18% After Hit App Temu Wrests Shoppers From Shein
On Tuesday, the Chinese company reported a near-doubling in September-quarter revenue, far outstripping its rivals. The company has so far kept Temu’s performance under wraps, but analysts estimate sales on the app — now in more than 40 countries — first topped Shein’s in May in the US, when it beat its rival by about 20%, according to Bloomberg Second Measure, which analyzes consumers’ card transactions.
The data show it’s extended that lead every month since and in September, recorded more than double Shein’s sales in the country.
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