The Future Of Online Shopping | CNBC Marathon
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
- CNBC Marathon explores how companies like Amazon, Walmart and their competitors are shifting their marketing and business strategies to compete in today’s economy.
Quietly launching its app in September 2022, it only took Temu a few weeks to top app store charts, edging out Amazon, Walmart and even fast-fashion brand Shein. By February 2023, the 5-month-old company made its TV debut during Super Bowl LVII, airing two commercial spots totaling an estimated $14 million. With an annual advertising budget of about $1.4 billion, Temu is focused on aggregating a user base of nearly 100 million people by year-end.
Walmart employs more people than any other company in the world and is the country’s largest grocer. But when it comes to e-commerce, Amazon is the clear leader, with 39.5% of the market share compared to Walmart’s 7%. Now Walmart has ambitious new plans, and new leadership, to try and catch up.
Livestream shopping took China by storm during the pandemic, growing into an estimated $423 billion market in 2022. The trend has caught on more slowly in the U.S., but now Amazon, TikTok, TH-cam and Shopify are making big investments in hopes it takes off. CNBC goes behind the scenes with creators like Myriam Sandler to find out what it’s like to sell via livestream, and what it’ll take for the emerging model to become a mainstream way that U.S. consumers shop.
Chapters:
00:00 Introduction
00:37 How Temu Makes Money From $10 Smartwatches from China (Published August 2023)
16:57 How Walmart Is Betting Big On Stores To Catch Amazon In E-commerce (Published June 2022)
34:26 Will Live Shopping On TikTok, Amazon And TH-cam Take Off In The U.S.? (Published February 2023)
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The Future Of Online Shopping | CNBC Marathon
![[UNCUT] ฝันรักห้วงนิทรา | EP.3 (1/4)](http://i.ytimg.com/vi/zVXAFD1OLZg/mqdefault.jpg)
This is one more Ad for Temu for free
Temu clearly paid CNBC for this promo.
And its working 😂
I'm downloading Temu now 😂
Temu is losing a lot of money. It isn't sustainable...unless its a government expenditure by the Chinese government to disrupt the US economy.
How do you propose they educate people about the company? People that care will appreciate the information, and hopefully spread the word and educate.
lol CNBC is giving TEMU free advertisement smh
Who knows if it is free
Free advertisement when they clearly are saying the app could be gathering data on you? If you are dumb enough to use the app after this story, you deserve to have your data given away
Haw long you spent to watch the video man? Be patience
Did you reply to wrong person? I watched the whole video. "Haw long you spent watch the video" @@oxmylove
@@conscious_codeNot like American retailers like Amazon, Costco, and Walmart are not gathering data about you.
I personally think that Amazon and other large retailers need to be broken up into smaller companies. I stopped buying from Amazon last year because the quality of things I bought online from them had gotten so bad. I now order things for pickup from local stores. It is probably initially costing me more, but I am able to check the quality quickly and return or exchange things immediately. I also know that the money I am spending at least partially is helping people locally.
I find Amazon has excellent product leaders in any category you care to imagine. Stick to them and you will get good value and quality
@@ajdz1840 Oh, they have a lot of variety - but I question the value and quality. I have bought a lot of things from Amazon in the past but the quality has steadily declined.
I could go through all of the purchases I made during the last two years and tell you one by one why they were failures but I don't think that is necessary. Oh, and all of the items would have good reviews - but again I think a lot of reviews are fake. Ultimately I think Amazon is a scourge on society - just like many large corporations.
AGREE.
I agree, the quality is not the same as when it first hit the scene.
Agreed. The quality is awful, and you can't be garunteed you are getting a certain brand even if you think you are ordering from them. And forget ordering clothes from them.
As a consumer, I'm primarily concerned with getting the best value for my money. I'm not particularly interested in whether Amazon or Walmart makes a profit or becomes wealthier. What matters most to me is finding affordable products that meet my needs, and if Temu can offer similar quality goods at lower prices, then that's where I'll shop.
Exactly, you have no problem buying things from a country that violates human rights on a daily basis because they're cheaper. Congrats, you're the average consumer with no sense of morale.
Don't let anything stop you from saving a buck, not even child labor.
@@Omniverse0like Walmart and and Amazon don't do that as well. Lol
Eeww a poor person talking about TEMU
So you are ok with supporting slavery and allow Chinese businesses that aren’t fallowing the same law has American one.
Companies are punished for doing the right thing. Workers who work hard are punished by giving them more work. This world is getting ridiculous!
WE ARE BEHIND IN THE AFTER LIFE AND WE ARE BEHIND IN HEAVEN
Companies doing the right thing.. LMAO how naive.
I guess you conveniently forgot when companies fought tooth and nail to fight against paying taxes on online shopping. Give me a break fool, companies will only do something if they're forced to.
😎😎 THE USA DEEP STATE, AMAZON, GOOGLE, FB, TWITTER, ETC ALL HAVE OUR INFO. SINCE BIRTH! and they will convict us if we tell the truth like Julian Assange! China can't throw us in prison! Our own govt can!
Why the hell would they want to pay taxes that go to wasteful government spending. Government the biggest business of them all is the most inefficient of them all
It's not getting ridiculous...it IS ridiculous!
All this greed makes me scared and depressed for some reason. It just seems so wrong
What greed? They're literally selling at a net loss
you clearly don't know how business works
@@chanceobondo3843 clearly you have no idea how growth companies work. Even amazon was making losses every year until recently so they can grow revenues and acquire customers.
Greed???? That's almost FREE lol
It is...their stuff is too cheap!!
I found Temu on my own and not by advertising. For the prices they offer their items you get more than you bargain for in quality. I have ordered household items, clothing, jewelry, electronics, shoes & hardware. Was I 100% satisfied with every item, no I wasn't. However, I was happy about 95%. Yes, they maybe using lower quality electronics parts but they work well and prove to me that name brand companies are way overpriced. Especially when the pandemic happened and they arbitrarily raised prices for no other reason than they felt they could try hiding it behind pandemic. Instead of helping by either maintaining their current prices or by even lowering their prices and choosing to forego those large bonuses. Temu is probably as "safe" as the companies in our own country with data.
They need to expand on what Temu does with user data. Especially that it's parent company was caught with malware accessing Android phones' other apps' data and personal messages.
I've tried to find this claim coming from a reputable source. Do you have any?
They also need to ask the same questions with Facebook Marketplace, Amazon , Shein ..etc because all of them using US consumer's data for different purpose, mostly about consumer algorithm. Not only Temu in this case. American don't want to make "cheap stuffs" as they said and blame China for losing e-commerce market to a young company. Well well...
These are the same people that post their life on Facebook and buy from Amazon.
I never even heard of live shopping until this video. Wow....
Amazon often sells the same products as Temu, only a few times more expensive. So, quality wise you wouldn’t win much with Amazon but the returns are way easier with Temu. Staying with Temu as long as it lasts.
Those nice prices are not going to stay like that for long....another app is going to want to compete and the cycle will go on.
That’s how you know this video is just propaganda. The US middlemen are paranoid about china selling direct to consumer, which disrupts our economy and contributes to the list of reasons shifting us down a few pegs on the world order.
@@peekaxu4352 and that’s fine
@@peekaxu4352competition is what brings down prices for us consumers and our government wants to stop this with tariffs and sanctions.
In Bulgaria Temu is not cheaper.
I bought 3 items over the last 2 years on Walmart...DREADFUL EXPERIANCE....all were faulty, parts missing and one just disappeared....NEVER AGAIN with Walmart.
#1 thing to take from this is: huge companies will always find and use loopholes to grow big
Temu doesn't pay tariffs on goods that are less than $800.
Amazon writes off their infrastructure and warehouses under specific laws written in their favor to pay very little taxes.
ACtually, Temu is not using a loophole. Minimis law are something that exist (and varies) in every country... it just so happen to be very high in the US making it cheaper for products under 800usd to crossborder. It´s like buying in a place where you know you won´t be paying taxes... are you using a loophole? no, you just doing something smart!
I missed Kmart and Sears!
You are joking. There was a good reason they bankrupted. 😂
@@tubeyou89119 because blacks kept strealing
As an Australian i can tell you Amazon here in Australia is cheaper then our supermarkets but its their postage that makes people buy from them 1 to 2 day delivery is crazy where i live as most of the online stores here in Australia takes over a week and a half to get to you even 2 weeks some times and yet stuff coming overseas takes quicker. So while walmart may be trying to take on Amazon it still don't deliver world wide hence amazon is bigger and better for us outside of the USA.
In Southeast Asia Lazada and Shoppee you dont need Prime membership to get two days shipping, most products here are delivered either the next day or in 2 days. Only those from Chinese sellers that it takes weeks.
All of this sucks. Back in the 90s everyone lamented the power of Walmart to destroy small town main streets & community. This is a whole new dystopian level of mindless consumerism... & almost no one is pushing back. The future is going to be so much more bleak & lonely than it is now.
You can do your part by shopping brick and mortar and paying 100 times more for the same item.
@@samanthajones4877 100 times more? thats ridiculous. Have fun with your dystopian future.
@@TheFatblob25 enjoy your inflation.
The audio quality on this is killing me. And the editing choices are really strange - the TV static transitions between short clips doesn't work for me
Temu microphone
Walmart playing catch-up with Amazon: any brick and mortar will have a tough value proposition if they do not deliver. I have shopped Walmart online before only to find there are many more restrictions on what they will ship vs pickup at the store. Walmart isn't a very nice place to visit. I'd rather get things delivered to my house. Same with target and home Depot, if I can find a product elsewhere for the same price, delivered to my doorstep, more than likely I will choose that option over going to a big box store. The only thing brick and mortar can offer over online is some kind of in store experience, but if you're just there to get some toothpaste, online is the way to go, unless you can hook it onto a weekly grocery trip
Years ago I bought online at Walmart which says I can return at any Walmart store. Went to the store with full documentation and the store would not accept it. This happened TWICE. Back then the Walmart motto was "returns are easy". Note on the main Walmart webpage "returns policy" is nowhere to be seen ...Beware !!! haven't bought online since then -- unless I knew will not return item...
You guys had a story asking why is hard for Americans to save money? Well , online shopping is part of the problem! There's nothing wrong with it, I just believe it's too overwhelming. It's easy and simple for ppl to buy things they really do not need. It's a convenient form to shop but the negativepart of it is.... it's addicting to some.
Agreed. People are more short sighted than ever and everything around us preys on that lack of wisdom. Just look at all the poor people wearing Jordans and new clothes every month. I make well over 6 figures and rarely buy new clothing because I'm too busy investing for the future.
Temu shows the huge markups and profits the go-between companies and governments make on everything coming from overseas.
Hard to watch, the narrators / voice over audio is so thin, harsh ear piercing sounding. Did it from a cell phone in her bathroom? million dollar company with potato audio. come on man.
Yes, she's right up on that mic. I had to turn down the volume.
I think she just has a terrible voice. Just find a narrator with a softer, more pleasant voice please!
The production is inferior to any barely above average professional social medidiot's content.
And her diction is awful too. I miss the old times where people got their job cause they were good at it. 😔
Shoppeen Network.
Competeen (not competing?).
Launcheen.
Wtf
I also noticed that temu likes to falsely advertise their prices 🤔
The only store I prefer is Costco
But does Costco sells Israeli dates where blood comes out of it when you bite a date
Yes! The only retailer that’s USA, big and with actual conscience.
Everything from amazon also comes from china, on temu the same thing is cheaper, I wish I knew about temu before, I would've saved a ton
Gross.. more poor people talking about TEMU
@@thedude5040 I also buy a lot from amazon. I am not poor, and even if I were, everyone is worthy of respect. What's really gross is classism and attacking people for no reason
@@thedude5040this your third time making the same comment under a different comment thread. How much more cringe can you get? Try hard.
@guesswhosgoing2jail2nite78 it's gross people import trash from China just to throw away within 6months. TEMU = tortured and enslaved Muslims
@@NotLikeUs869 TEMU = tortured and enslaved Muslims
Even though I buy everything from Amazon i don't get why Temu is demonized.. it's not the consumers job to protect the biggest companies in the world... More competition is always better for the consumers
If ur a true capitalism advocate u would care. Why should I pay tarrifs when he don't
the point is they are avoiding regulation to compete in an anticompetitive manor
@@michaelschipper3312 commpitators can do the same thing as they are doing
Lol meanwhile the USD purchasing power is down 80% since going off the gold standard.
@@michaelschipper3312not really. Temu has huge warehouses in several states. Also, they have been passing the savings to consumers. Has local firms e.g., Amazon done the same? They didn't even though they could.
Wow! I’m watching this from a south American country and can’t believe the current differences between us and them. We have a lot to learn, but this competition is insane.
This feels like a video paid by Amazon to tell people to stop using temu and go back to Amazon
Chinese controlled TEMU is like installing a spy app on your phone.
@@yummm8775 Like TikTok
And putting an American controlled app isn't? Why do you think the American government is going after these companies? Cause they can't spy on you with them, of course, they have been caught coin that many times now.
LOL get some coke brah @@yummm8775
Well i was thinking about getting and smartwatch, thanks for the ad.
😂
I was thinking the same thing!
I'm glad you want Temu to sell your data, which is why they lose money on the actual item
Walmart can continue to build out their Sellers and selection, but unless they work on their search algorithms it won't matter! Their is no comparison when you compare the search results in Amazon vs Walmart. I can't tell you how many times I've abandoned my search review in Walmart because of the results. Receiving unrelated products and items priced at 10X expected pricing!
American retailers are not selling products from Xingzing Area? Sure. When the retailers subcontract for the manufacturing in China, there is no way the American retailers can ensure the products are not from Xingzing area. Even American retailers are about money.
So humans will be glued to the screen even more
Livestream works in Asia because of the culture. As American who had lived in Asia I don’t see Americans buying a lot from live stream
they don't act like a bunch of women yapping in front of QVC
I've said this for years.. If Sears, Kmart etc .. had done what it appears Walmart has finally figured out,, they would still be around. A store locally can as he said ship out and deliver faster cheaper then a warehouse a 1,000 miles away.
Thankyou! Keep up with this amazing content!
Walmart filled up my porch with groceries that I did not ask for. When I called Walmart to remove the groceries, they refused, making their mistake my problem. I wasted hours finding a neighbor that was supposed to get the delivery. Walmart seemed to think it was okay to make their error my problem. 👎
Wait, did it have your address at least? My mother in law said a restaurant food delivery was left at her doorsteps that she didn't order. Food was still hot and fresh but she is the paranoid type and threw it away! (I'd be like Free food y'all!!!)
@jimv77 no address on the packages, turned out it was meant for a neighbor who came and picked it up...
Great Documentary!!!!!!!
This was so thorough!
The law should change that every order from TeMu subject to import tax and local tax.
TEMU is shipped out of warehouses in NJ, NY CA, etc. no different then amazon
Shipped out not made
@@darugdawg2453most of the things in the USA isnt made here and hasn’t been for decades.
@@darugdawg2453hahaha.. You need to think before you chat. Almost everything you purchase isn't made in USA... Not even some of your fruits, vegetables... Seafood... Temu is doing things no differently to any of the other big players... When's the last time you checked the labels of the appliances you buy online mate? And yet you still buy it...
Well then Google Apple Amazon and Facebook should also pay Tax where they operate outside the US!!!!!
Great content, very informative
I wish they'd make a "everything" retail store that's setup like a fast casual dining place where you move down a line, pick out what you want, pay and leave.
Good for them, anything that's not Amazon and Walmart charges shipping. I will definitely try it if it can get me a deal. I like competition because it helps consumers. I don't like that we have few and strong corporations such as Unilever and others, look at how they are driving inflation. They don't care about consumers but their profits.
Don't bother, everything on there is terrible quality
just buy REAL products........if the price seems too low then there's probably a reason for it
Very good CNBC. Thank you.
Never downloaded the app, but 15 minutes in im almost convinced!🤦🏼♂️
You don't have to download the app. I never shop on my smart phone. So I don't have the Temu app. I'm at home ordering from the Temu website on my Desktop. I'm behind my soft/hardware firewall and packet sniffer. So I'm protect a little bit more than using the Temu app.
seek help for that
I downloaded the app. They gave me discount but theres a catch. I canceled my cart and deleted the app. I dont like being baited
@@andrewg5416😂😂
This was one of the the best pieces I’ve seen on CNBC in while. Love to see CNBC quality has been AAA rated my entire life, keep it up. 👍🏼🇺🇸📈. Go AMZN
I just love the way the VO artist says Pinduoduo !
When Marketing tactics are just better, the government and politics just want things to go their way because how else are they going to take your money? Do you really think they care about you? They just care about how much they can pocket from you. I think what really matters at the end of the day is how much purchasing power the users really have at the end, if you spend less money for things, that's a win for you imo.
what matters at the end of the quarter is the already out of control and rapidly worsening state of our planet. "Expect slowdowns ahead" and "Beware the drop off"
Economic investigator Frank G Melbourne Australia is following this very informative content cheers Frank 😊
Wow it’s very concerning that no one is talking about the insane impact on our environment with all these unnecessary and some that are truly junk being sold at such low cost and in a “mindless” manner as one of the data exec said. I can’t imagine how much trash is accumulating because of cheaper and cheaper products that break in a short time and others that are absolutely not needed for a happy and fulfilling life.
Need not to worry about me downloading and purchasing anything from TEMU and any other Chinese websites and companies.
I knew very little to nothing about this app for over a year.
I had a feeling this cannot be American in any way. So I did not ever download the app.
Let me also state that im 25 years old, I grew up with technology and life just before technologically becoming the norm with everything in life.
Your purchases from other corporations like Target, Walmart and Amazon get their inventory from Chinese wholesale.
I order from TEMU and "some" of their items are no different than what you buy from WM and AMZ. They're the same manufacturers. I usually get paper and office supplies from TEMU.
If something is too good(cheap) to be true, it probably isn't true. Your reasoning is the same as why I am cautious using any kind of free apps and services. Somebody always pays for it and it's usually out data being sold that pays for it.
@@sienglee6698Maybe, BUT they do not download malware on your devices 😂
@@mithicash1444every Company in this country including social media platforms already are gathering all of your data and also for free 😂.
I remember when I first started shopping on amazon, everything was so inexpensive compared to brick and mortar. Now that I started shopping on temu, everything is so inexpensive compared to Amazon.
This is the best temu commercial i watched
I stop online shopping 3 years ago. I shop at Costco 2year return policy. Love it. Amazon is trying to cut jobs and sell bad stuff and return are sometimes bad
So much of this fascinating and also very Creepy. I launched an online store in 2o15, after having 4 bricks and mortar stores and growing up in my grandmothers antique / collectibles / thrift store flower shop. My store is microscopic in the scheme of things. This world of mindless consumerism and people ...lending themselves out for a quick buck. It gives me chills. Still, eccommerce is the future, and one of the frontiers so much of it still to be explored. It is very exciting which is why i joined the space for my small part. I hope more merchants will take a different tack that the modus operandi shown in this video. A quick buck can come at the cost of one's soul. And the Soul of a country :/
the narrators voice is brutal. couldnt even make it 5 minutes. CNBC get your shti together
Glad I’m not the only one distressed by the vocal fry.
Props to Walmart because they actually have been getting things cheaper and even faster to me than Prime in the recent years. Prime still holds ultimate advantage for things that aren’t so local but for most grocery related items, Walmart somehow making it to my door in under 2 days, standard for Prime, is pretty cool. Prime does do 1 day delivery but most grocery related items on prime are either expensive for no reason or takes so long to get here for no reason.
Props for them copying? Amazon will have a new way of operating by the time Walmart “catches up”. I have no respect for companies who are not innovative.
@@gafam7251 who shops for groceries off respect? It’s whoever can get it to me fastest/cheapest, at the same quality.
Is this an old report? Halfway thru and twice I've seen it refer to last year and then show 2021 data
Wow Temu, what a great app!
Amazon is the go to
Vendors on Amazon purchase wholesale from Chinese companies and sell the items on the Amazon platform.
Looks amazing.
that watch thou is crazy
Chinese are winning because they are making smart moves and changing the ecommerce/retail/shipping industry. Respect to the China man for that.
Outsource your narration to a professional narrator; there are plenty out there to choose from. Respectfully I don't want to listen to someone wining about a subject. I want to be informed with high quality audio that doesn't sound like a Skype call.
2 things i am 100% sure. 1) CNBC is long PDD shares 2) Audio sucks as if the narrator has swallowed the mic
2. Yes
When I first saw TEMU, and I saw their prices, I immediately thought, "slaves. They're using slaves."
Yep same here! Surprising that so many didn’t think that
My aunt loves Temu lol ❤️
I am going to download it and try it out. Thanks for the info.
DO NOT buy Chinese junk! You're creating a pollution problem any time you buy from TEMU's one time use garbage products.
Nice ad video 👽👽👽
Temu allows sellers who steal designs from legitimate companies. This is a huge problem in the paper crafting world.
This make me WANT TO SHOP AT TEMU *EVEN MORE!!!* 🤣😂
Why because you like wasting your money on junk?
Love Temu!
Zero tax means cheaper for every consumer. Why protect rich company like amazon? Amazon must have a lot of lobbyists.
Because the USA needs tax money to run. The USA doesn't run on hot air. Do you pay the military hot air? Anyway, TEMU is Chinese spy app so use at your own risk - and for what... just to buy junk!
Problem with Walmart is that unlike from amazon they do not ship all the items. Even non fragile items, one has to drive to Walmart and purchase products on a spot which makes it extremely inconvenient
Live stream shopping , shopping inspiration ? I clearly live in a another universe .
The US is just jealous they don't get to put their hands on some of that money Temu is making. Greed at its finest image!
Teh-mu not Tee-mu. That is what I learned from the Superbowl commercials this past Sunday 😅
The reason why I don't shop on Temu, or Wish, is the quality control is poor.
YOU GET WHAT YOU PAY FOR... You are buying low quality, large volume, quickly produced: junk.
You might pay a fraction of the price, but the item isn't made to last as long.
It's made to last a while, then be thrown away in the garbage.
annnnddd im in...the price points are on point and the quality is on
point as well. walmart is making the right moves into this space. i purchase my groceries and my furniture from walmart. i dont care for amazon...
Just ordered something from temu while watching this…
Barf
Temu has treated me like a celebrity!!! If I complain, it's a total refund! that's another factor why I became loyal shopper of temu instead of amazon, I still have prime btw...
We must stop the free Shipping across the planet to stop these online trash sites.
I use it on my WFH laptop instead of my phone sometimes and place third party purchase not my debit card not my phone.
Temu and Shein is super addictive..especially with coupons!
future of online shopping is buying from physical stores and malls because you can order with smartphone anywhere
The spin wheel that appears when I type in an item and then offers a discount that it never gives is the most annoying thing, and the reason why I try to avoid temu.
Great documentary
How can the"oppressed Uighur"just make things for Pinduoduo not other Chinese company? How can so little numbers of Uighurs make so many different things?
The 4 million Uyghurs are being held in a cave and forced to make everything being sold on Amazon
What ever they are selling you probably don't need it.
❤nice video
If the UPU would recognize China as a developed country rather than a "developing country" their prices wouldn't be so cheap. USPS loses millions every year because of this and it results in US domestic shipping rates to sky rocket. Try shipping a package to a friend within the US... you will pay outrageous prices.
Those are not discounts thats the actual price but shown as a deal. The problem is that it is some times a trash item.
I love Temu! Please keep those prices low in order help us fight U.S. inflation. I would never buy hyper inflated American products.
woo, I need a dupe Apple watch! Ten bucks where can you find that kind of prices, lol....!
We are very difficulty and finding online items on stores or shops or malls.
How do these people not feel bad about what they're doing? You know shopping is an addiction for some people and a lot of the things I saw her promoting look like crap than no one needs
Almost everything comes from China. Temu sounds like a white label Amazon.
If you care if people think you're wearing an Apple watch, you're part of the problem.
Direct to my fridge is game changer i eat the same stuff anyways might as well get it delivered directly into my fridge
Pathfinder had some pretty insightful things to say in this one.
the anchor voice the worst ever voice i've heard. too much rrrrrrrr
Temu is successful because not name brand products and same material 😮😂
Temu is Tofu Dreg translation
JUNK🇺🇸
Yes it is.