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Their aggressive approaches to marketing and merchandising enabled them to capture a massive portion of the retailmarket, and their sales tactics encouraged rapid customer engagement. Both Temu and Shein bombard users with aggressive promotions and discounts that require some form of active engagement. was expensive.
Ashley’s bid for the top position has been slammed by Boohoo, which accused Frasers of using its stake in the fashion brand and other retailers to promote its own “commercial self-interest”. What’s happened so far? The latest half-year results for Boohoo show its pre-tax losses tripled from £36.6m to £147.3m
Like Shein, Temu offers discounted fashion and lifestyle goods, but unlike Shein it sources and ships directly from manufacturers in China. That means it can promote thousands of Chinese small businesses and micro-brands yet need not store any inventory.
It comes as the retailer’s operating profit plunged 17% to £123.8m “We continue to have constructive relationships with our suppliers, and our year-to-date Q3 results show Very revenue growth of 2.2% – ahead of the online non-food retailmarket – and a robust liquidity position.”
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