Temu app downloads in the UK have dropped for the first time this year, research from Morgan Stanley has revealed.
The investment banking company found that downloads were down month-over-month in June by approximately 1.3m.
Monthly visits to Temu now sit at around 23m, around the same level as Asos.
The American-based shopping app looked at approximately 24m website visits during May this year.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Temu, owned by Chinese gian PDD Holdings, launched globally in September 2022 and started to sell in the UK in April this year.
The ecommerce marketplace sells a wide range of cheap products through its online platform and is known as the “TikTok of commerce”.
After its launch, the app received 19m US downloads in the first quarter of this year and quickly became the most popular shopping app in the US in March.
Despite the popularity of the app, in June, US lawmakers warned shoppers there is an “extremely high risk” that Temu sells goods made using forced labour.
The accusations came from an investigation looking into adherence with a 2021 US law, banning the import of products made with forced Uyghur labour.
Click here to sign up to Retail Gazette‘s free daily email newsletter
