App EconomyCommerce Retail Roundup: Temu (PDD) slowdown stands out; BABA/AMZN strong September 2, 2024 Tom Grant September 2, 2024 This was first published August 30, in our weekly newsletter Apptopia Insight. To receive insights like this weekly, sign up here. Temu (PDD) U.S. downloads slowing – U.S. downloads of the Temu app turned negative in July and decelerated into August (-19% YoY in the most recent week). Temu’s engagement also pulled back – Temu’s engagement leads e-commerce peers, but peaked in March (25 minutes/day) and actually fell in 2Q (down to 21 mins/day in July). AliExpress (BABA), Amazon (AMZN) strong – AliExpress trends look opposite of Temu – U.S. downloads increased to +66% YoY in July and have been strong in recent months. Amazon U.S. downloads popped around July’s Prime Day and have continued to trend up on a year-over-year basis (+14% YoY in July). Temu download trends weak Temu weakness – Temu’s new user growth has been slowing in the U.S., turning negative in July and decelerating further in August. In addition to new users, existing user engagement is falling – Temu’s average time spent per user peaked at 25 mins/day in March but slipped to 21 mins/day in July. The percentage of panel users with Temu has also declined in 2Q over 1Q. Temu’s engagement peaked in March Strong trends for AliExpress – AliExpress trends look opposite of Temu – U.S. downloads increased to +66% YoY in July and have been strong in recent months. AliExpress inflected in 2Q – downloads increased from +4% YoY in 1Q24 up to +68% in 2Q24 and have accelerated in July/August. AliExpress 2Q growth up +68% YoY Amazon Prime Day momentum carrying into August – Amazon Shopping’s U.S. downloads popped to +14% YoY in July and remain strong and positive year-over-year in August. Questions on the underlying data included in this analysis? Data request Tom Grant