Tag: Temu

Kuala Lumpur – Global e-commerce platform Temu is teaming up with regional digital financial services platform Atome to allow its customers to select Atome as their preferred flexible payment method during checkout on Temu.

This enables Malaysian customers to enjoy interest-free installment payment options when shopping for a wide range of products on Temu’s platform. New Atome users will also benefit from exclusive discount vouchers with their first purchase with Temu.

Andy Tan, chief commercial officer at Atome Financial, said: “We’re incredibly excited by this partnership. Over the past 18 months, Temu has become one of the most popular e-commerce platforms in Malaysia. Integrating Atome as a payment checkout option will provide millions of Temu customers in Malaysia with the choice, convenience and flexibility of how they want to shop and pay, significantly enhancing the consumer shopping experience.”

It is worth noting that online shopping continues to surge in Malaysia, thanks to rapid digital adoption and changing consumer shopping habits. Data from Ipsos Malaysia’s 2024 E-Commerce landscape report notes nearly 1 in 2 Malaysians shopped online in 2024, with the growth especially significant among 18-24 and 35-44 year olds. Fashion, accessories, electronics and homecare products were among the most popular categories. 

Moreover, the rapid shift in consumer preferences is establishing Malaysia as a leading regional e-commerce hub, with the Department of Statistics Malaysia (DOSM) reporting that the Information and Communication Technology (ICT) and e-commerce sectors contributed MYR 427.7 billion to the national economy in 2023, growing 3.9% from the year before.

Jakarta, Indonesia – Indonesia has requested that Alphabet’s Google and Apple remove the Chinese fast fashion e-commerce platform Temu from their app stores in the country to prevent it from being downloaded, a government minister announced on Friday via Reuters. 

The decision aims to protect local small and medium-sized enterprises (SMEs) from the influx of cheap products offered by PDD Holdings’ Temu, according to Communications Minister Budi Arie Setiadi, although there have been no recorded transactions by Indonesian users on the platform so far.

Temu’s rapid expansion has drawn attention in several countries due to its low-cost business model, which involves shipping products directly from factories in China to customers. Budi criticized this approach, calling it “unhealthy competition” because it significantly undercuts prices. 

“Our priority is not to safeguard e-commerce platforms, but to protect our small and medium businesses. We have millions to look after,” he stated.

The Indonesian government also intends to block any potential investment by Temu in local e-commerce, should such plans arise, Budi added, noting that no such proposals have been made yet. 

Additionally, the government is considering a similar request to block the Chinese shopping service Shein.

It should be noted that the Indonesian government has blocked Temu to protect SMEs, with another one update being Bukalapak denying reports of Temu acquiring them to boost the popular e-commerce app’s expansion in Indonesia.

Jakarta, Indonesia – E-commerce company Bukalapak has addressed reports of an alleged acquisition by Temu on the local e-commerce player. It is worth mentioning that various reports have stated that Bukalapak’s share price increased by over 22% in the past 5 days, from 120 rupiah on Oct 2, 2024, to 147 rupiah per share on October 8 over alleged acquisition talks.

In a letter to the Indonesian Stock Exchange (IDX) reviewed by MARKETECH APAC, Bukalapak stated that they are not aware of any information regarding its acquisition plans by TEMU.

“The increase in share price on October 7th, 2024 reflects the market’s reaction to unverified information regarding the Company’s acquisition plans, which has not been confirmed by the company’s management. Market speculation is beyond the company’s control,” wrote Cut Fika Lutfi, corporate secretary at Temu.

Bukalapak has advised public shareholders and investors to observe official disclosure of information by the company before making any investment decisions on the company.

It is worth mentioning that this news follows the Indonesian government mandate to ban Temu in the country in a bid to safeguard the standing of local SMEs in the country.

Jakarta, Indonesia – Popular Chinese e-commerce app Temu has been blocked from entering from Indonesia, according to a statement from Fiki Satari, Special Staff to the Minister for Creative Economy Empowerment at the Ministry–and confirmed by the country’s Ministry of Cooperatives and SMEs.

According to the ministry, should Temu enter the country, it will result in jeopardising sustainability of MSME players in the country.

“If Temu enters, it will greatly threaten local MSMEs. This application from China allows direct transactions between factories in China and consumers in Indonesia, which has the potential to kill small businesses here,” Fiki said in a statement.

Fiki explained that Temu’s business model enables goods to be sold directly from factories to consumers, eliminating the need for intermediaries like sellers, resellers, dropshippers, or affiliates. Furthermore, the platform offers subsidies, which significantly lowers product prices.

“They have entered the US and European markets, and are now expanding into Southeast Asia, including Thailand and Malaysia. Therefore, we must remain vigilant and ensure Temu does not enter Indonesia,” he added.

It is worth noting that since September 2022, Temu has tried to register its trademark in Indonesia three times. On July 22, 2024, they again applied for registration at the Directorate General of Intellectual Property Rights (DJKI), Ministry of Law and Human Rights.

“Temu App has tried to register trademarks, designs, and others with the DJKI. However, they have not been able to enter because there are already companies from Indonesia that have similar names and business categories. Even so, we must remain vigilant and continue to monitor,” Fiki explained.

Fiki hopes that various relevant agencies, including the Ministry of Law and Human Rights, the Ministry of Trade, the Ministry of Communication and Information, along with other stakeholders, will collaborate to prevent the entry of the Temu marketplace into Indonesia.