PDD’s (PDD) Temu cut U.S. digital ad spending by an estimated 31% and Shein by 19% in the two week period from March 31 as the de minimis exemption is closed, The New York Times’ Daisuke Wakabayashi and Mike Isaac report, citing data from Sensor Tower. A Temu spokesperson said on Friday that the company had stopped shipping products from China directly to customers in the United States, and that its U.S. orders would now be shipped from local warehouses in America, as the business “transitions to a local fulfillment model.” Temu rivals offerings from Amazon (AMZN) and Alibaba (BABA).
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