Chinese Competitors

Amazon has strong competition encroaching on its e-commerce empire.

Amazon remains the e-commerce leader in Europe, but Chinese companies like AliExpress and Temu are gaining ground. An infographic using ecommerceDB figures shows that by 2024, Pinduoduo, which owns Temu, will be only 13 percent behind Amazon in gross merchandise volume, a significant improvement from 2019 when Amazon’s volume was more than double. Temu launched in the U.S. in autumn 2022, quickly topping download charts. Despite its global goods volume being $30 billion compared to Amazon’s $389 billion, Temu’s sales forecasts are positive. In 2023, Pinduoduo rebranded as PDD Holdings and recorded record sales of $34.9 billion, an almost 90 percent increase from the previous year, attributed to higher revenue from online marketing and transaction services.