拼多多跨境电商Temu上半年GMV达200亿美元 超越2023全年业绩
作者 | 李小霞 Editor | 乔芊 杨轩
即将在今年9月迎来上线两周年的拼多多旗下跨境电商平台Temu，依然保持着惊人的增长速度。36氪独家获悉，Temu今年上半年销售额已突破约200亿美元——这个数字已经超过了其2023年全年的180亿美元业绩。
When Pinduoduo's cross-border e-commerce platform Temu celebrates its second anniversary this September, it continues to demonstrate astonishing growth momentum. Exclusive data obtained by 36Kr reveals Temu's sales have exceeded approximately $20 billion in the first half of 2024 - surpassing its full-year 2023 performance of $18 billion.
将Temu置于"出海四小龙"的坐标系中对比：SHEIN在成立9年后于2021年实现200亿美元销售额；TikTok电商则用了3年时间在2023年达到同等规模。而Temu仅用不到两年就实现了这一里程碑。
Comparing Temu with other "Four Cross-border E-commerce Dragons": SHEIN achieved $20 billion sales in 2021 after nine years of operation; TikTok e-commerce reached the same scale in 2023 after three years. Temu accomplished this milestone in less than two years.
战略转型：从全托管到半托管
Strategic Shift: From Full-Turnkey to Semi-Hosted Model
Temu正在经历重要的商业模式转型。36氪了解到，7月上旬，Temu美国站点的"半托管"模式销售额占比已达20%。该模式于今年3月15日上线，与全托管不同，商家需自行解决物流履约问题。
Temu is undergoing a significant business model transformation. According to 36Kr, by early July, the "semi-hosted" model already accounted for 20% of Temu's US sales. Launched on March 15 this year, this model requires merchants to handle their own logistics fulfillment, unlike the full-turnkey approach.
半托管模式对平台具有多重优势：突破小件商品限制、降低履约成本、加速减亏进程。更重要的是，这可能是应对美国"最低限度条款"关税豁免政策潜在变动的未雨绸缪之举。
The semi-hosted model offers multiple advantages: breaking small-item restrictions, reducing fulfillment costs, and accelerating loss reduction. More importantly, it may be a precautionary measure against potential changes to the US "de minimis" tariff exemption policy.
全球布局与市场平衡
Global Expansion and Market Balancing
Temu正在积极降低对美国单一市场的依赖。根据The Information报道，Temu计划将美国GMV占比从60%降至30%。36氪获悉，二季度Temu总GMV约120亿美元，美国市场占比约45%。
Temu is actively reducing reliance on the US single market. According to The Information, Temu plans to decrease US GMV share from 60% to 30%. 36Kr learned that Q2 total GMV reached about $12 billion, with US market accounting for approximately 45%.
7月19日，Temu在深圳召开"欧洲半拖首秀"招商会，正式将半托管模式推广至英国、德国、法国、意大利和西班牙等欧洲五国。平台希望未来欧洲市场份额能达到50%。
On July 19, Temu held a "European Semi-Hosted Debut" investment conference in Shenzhen, officially expanding the semi-hosted model to five European countries including the UK, Germany, France, Italy and Spain. The platform aims for Europe to eventually account for 50% of its market share.
物流挑战与竞争态势
Logistics Challenges and Competitive Landscape
为支持半托管模式，Temu加速扩充官方合作海外仓网络，从7家增至20多家。这些合作仓不仅能获得平台流量支持，还可接入Temu的FedEx、UPS等尾程快递账号，享受折扣费率。
To support the semi-hosted model, Temu has rapidly expanded its network of official overseas warehouses from 7 to over 20. These partner warehouses not only gain platform traffic support but also access to Temu's FedEx, UPS and other last-mile delivery accounts with discounted rates.
值得注意的是，亚马逊近期推出"低价商店"直接对标Temu，这不仅加剧了平台竞争，还推高了本就紧张的空运运力成本。在此背景下，Temu加速发展半托管模式显得更为紧迫。
Notably, Amazon recently launched a "Low-price Store" directly competing with Temu, intensifying platform rivalry and driving up already strained air freight capacity costs. Against this backdrop, Temu's accelerated development of the semi-hosted model appears even more urgent.
对于本文报道的相关数据，拼多多官方予以否认。
Pinduoduo has officially denied the data reported in this article.
