Temu Tops U.S. App Store Downloads in 2024

Temu, owned by China's PDD Holdings, has topped Apple's list of most downloaded free apps in the U.S. for the second consecutive year, showcasing the growing influence of Chinese apps in the market. The app specializes in low-cost goods and has rapidly gained traction since its U.S. launch in 2022, posing a challenge to established players like Amazon. Despite its success, Temu is under scrutiny from U.S. officials and faces potential tariffs, particularly with the incoming Trump administration. In the 2024 rankings, TikTok ranked third amid national security concerns, while Threads and ChatGPT followed closely behind in popularity. In the UK, Temu and competitor Shein have also seen significant downloads, with Shein preparing for a potential IPO despite regulatory challenges. Both companies attribute their success to competitive pricing and exclusive discounts, appealing to budget-conscious consumers.