TEMU tops the list of the world’s fastest-growing online markets
On July 29, the 2023 GMV growth ranking was released, with the top five markets being Miravia, Temu, TikTok Shop, Coppel, and Blinkit. Among them, the two fastest-growing e-commerce markets are Miravia, a subsidiary of Alibaba, and Temu, a subsidiary of Pinduoduo. Miravia’s GMV growth in 2023 exceeded 8,000%; Temu’s annual growth rate was 4,648%; Miravia had a growth rate of 355%; Coppel grew 338% in 2023; Blinkit, with a growth rate of 86%.