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Read previewTaylor Swift fans are a dedicated group, but complaints about the pop star's merch have some calling for a boycott in recent months. However, some fans on social media are calling out what they described as the poor quality of her merch and delayed shipping times. Instead of blaming Swift for the merch, many fans are looking at her record label Universal Music Group for the delays and poor quality. Another Redditor posted expectation vs. reality photos of a $40 "1989" tote bag ordered online. Others online called out the "poor quality" of the tote bag and said that it's nothing new for Swift's merch site.
Persons: , Taylor Swift, Swifties, Pollstar, Swift, Redditor, subreddit, hadn't, Swift's, I'm, taylors, TeJDBDyfBj — Riley 🤍🖤 Organizations: Service, Business, Universal Music Group, tote
Is your mom a 'Temu victim?'
  + stars: | 2024-02-20 | by ( Katie Notopoulos | )   time to read: +1 min
Read previewWe know several things to be true about Temu, the Chinese-owned e-commerce app:This story is available exclusively to Business Insider subscribers. So we know that older shoppers love Temu, and they love the fun, whimsical, and cheap household items it sells — wall art, shower curtains, kitchen items, etc. AdvertisementOne Gen X Temu shopper told me he likes Temu because it reminds him of the stuff he's seen on late-night infomercials. Here's the flip side of this: The children, often Gen Z young adults, of those Gen X or boomer shoppers, are making fun of them for being "Temu victims." I say: Let the moms (and dads and grandparents) enjoy their Temu.
Persons: , X, boomer, Steffi Cao, Stanley Organizations: Service, Business
Fran Horowitz, Abercrombie & Fitch CEO: The future of retail is small, efficient, omni stores, and they're located where the customer tells us. I get really, really excited about what this means in the operations of the business, using predictive analytics to help us forecast demand. They're worldwide, a zillion stores, and their operations and execution, aside from their merchandising, I think they're always on top of the game. I think you're going to see an interaction with someone in a setting that doesn't look like retail, but looks like a fantastic experience. Nicholas of Sam's Club: Another retail standard that is really going to be important beyond the customer is energy.
Persons: Christina Locopo, Fran Horowitz, Abercrombie, Patrick MacLeod, WWD, Michelle Gass, Levi Strauss, they're, Jens Grede, Geoffroy van Raemdonck, Neiman Marcus, there'll, Trina, Patrick T, Fallon, Chris Nicholas, Kara Trent, Levi's Gass, Tom Ward, Erin Black, CNBC Abercrombie's Horowitz, Marc Lore, Mickey Drexler, TikTok, Adam Jeffery, Dave Kimbell, It's, Scott Mlyn, CNBC Neiman's van, you've, Yael Cosset, , Ulta's, Arturo Holmes, Trent, That's, we've, Kroger's, Abercrombie's Horowitz, I've, Dia Dipasupil, Neiman's van, who's, Lulu, Drexler, Armour's, Dior, Louis Vuitton, Hermes, Armour Levi's Gass, Emma Grede, Kardashian, Kim, Geoffroy van Raemdonck Patrick Mckleod, Nicholas of Organizations: CNBC, Abercrombie, Fitch, Abercrombie & Fitch Co, Penske Media, Getty, Milken Institute Global Conference, AFP, Sam's, Technology, Walmart U.S, Walmart, New York Times, Navy, WWD, Young, Nike, TJX, Zara, Armour's Trent, Americas, Nicholas of Sam's, Sam's Club Locations: they're, Beverly Hills , California, New York City, America, New York, U.S, Skims, Inditex, Kara, Walmart's
Temu's Super Bowl ads sparked a surge in online searches despite recent downturn among users. AdvertisementTemu was the talk of the town on Monday after its ambitious Super Bowl advertising campaign sparked a flurry of online queries about the Boston-based, Chinese-owned e-commerce company. The company splurged on three ads during the game and two afterward, per CNN, also offering $15 million in giveaways and coupons as part of its Super Bowl promotion. But while Temu saw massive growth in 2023, some of its numbers have started to fall off in recent months among American users, according to Bloomberg. But its Sunday advertising campaign may have already helped Temu regain some of its early success in the US.
Persons: Temu, , Morgan Stanley Organizations: Service, Super Bowl, Bloomberg, CNN, Bowl, Temu, Google, Apple, USA Locations: Boston
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today’s big story, we’re looking at why the recent resurgence of Vladimir Putin and Russia comes at an inopportune time for the markets. The big storyPutin's big weekRebecca Zisser/Business InsiderVladimir Putin hasn't notched many personal wins since Russia's invasion of Ukraine, but last week was an exception. Putin’s successes further complicate a geopolitical situation that has silently loomed over a US economy trying to tiptoe past a recession.
Persons: , florists, Vladimir Putin, Rebecca Zisser, Vladimir Putin hasn't, Tucker Carlson, he’s, Tom Porter, Carlson, Putin, Joe, Donald Trump, BI’s Brent D, Griffiths, Tom, GAVRIIL, Jamie Dimon, Ray Dalio, Jerome Powell, It’s, David Rosenberg, doesn’t, Alex Wong, Stocks, Savita Subramanian, Grammarly, Abanti Chowdhury, Zers, Temu, Sam Altman, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, NATO, Sputnik, Kremlin, JPMorgan, Bridgewater Associates, Reserve, Federal Reserve, Bank of America, Labor Statistics, Tech, Chiefs, 49ers, World, Ferrari, Business Locations: Russia, Ukraine, Russian, Moscow, China, Israel, Gaza, Washington ,, New York, London
During the game’s commercial breaks, Temu managed to grab several 30-second ad slots estimated to cost $7 million each . Temu is spreading across AmericaSigns so far suggest US consumers are buying the Temu hype. AdvertisementResults published this month from a survey of around 600 consumers, carried out by investment bank Jefferies, found that almost one in three, or 31%, had used Temu. Temu lacks US-based apparel brands, the bank said, making online window shopping on the site less appealing to Americans, for now. That said, Temu looks ready to put its all into America.
Persons: , Taylor, Travis Kelce, didn’t, Temu, Shein, Jefferies, TikTok Organizations: Service, Super, Business, Bernstein Research, Bowl, Jefferies, Amazon, Bloomberg Locations: Tokyo, China, America, Europe, Beijing
Hong Kong CNN —A year after making its advertising debut at the Super Bowl, Chinese-backed online shopping platform Temu is redoubling efforts in its most important market with a second ad on America’s biggest stage and $15 million in coupons and other giveaways. The Boston-based firm — owned by PDD (PDD), the group behind Chinese online shopping giant Pinduoduo — paid for three ads during the game and two after the game. Commercials for the 2024 Super Bowl sold for higher rates than for last year’s game, with a range of $6.5 million to $7 million per 30-second spot broadcast on TV channel CBS, two individuals familiar with this year’s advertising sales told CNN. “The commercial marks the highlight of a Super Bowl campaign that featured more than $15 million in coupons and giveaways,” Temu said in a statement. As a result, PDD’s market capitalization soared that month, eclipsing that of older e-commerce rival Alibaba (BABA) for the first time.
Persons: Hong Kong CNN —, , ” Temu, Seema Shah, ” Shah, , Temu, spender, Earnest Analytics, PDD, Alibaba, Alibaba’s, Jack Ma Organizations: Hong Kong CNN, Super Bowl, PDD, CBS, CNN, Bowl, Amazon, Super, Facebook, Dollar Locations: China, Hong Kong, Boston, United States, United Kingdom, Mexico, Germany, Australia
The ultra-discount retailer Temu bought an eye-popping three $7 million Super Bowl ad spots. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though not quite a rebranding, this pronunciation is new for the two-year-old e-commerce site, which aired its first (single) Super Bowl commercial last year. In that ad, Temu is clearly (and predictably) pronounced "tee-moo." Those results make the estimated $21 million look like money well spent for Temu's parent company, PDD Holdings.
Persons: , PDD Organizations: Temu, Service, Super, PDD Holdings, JPMorgan Locations: Temu, China
Global online shopping platform Temu is already climbing the ranks in the U.S. Apple Store. The Temu marketing blitz, which blanketed Facebook and Instagram well before Sunday's Super Bowl, is also familiar to anyone who followed Wish. Qoo10 will now be taking on Temu and Shein, which both originated in China and still have strong ties to the world's second-biggest economy. During and shortly after the Super Bowl, Temu ran a handful of "shop like a billionaire" ads and touted $15 million in giveaways. WATCH: Temu sees fewer new users post Super Bowl
Persons: it's, Singapore's Qoo10, Wish, Peter Szulczewski, Szulczewski, China's ByteDance, Temu, Morgan Stanley Organizations: Apple, Super Bowl, Facebook, Los Angeles Lakers, PDD Holdings, Shein Locations: U.S, San Francisco, China
All the Super Bowl Ads So Far, Ranked
  + stars: | 2024-02-11 | by ( Mike Hale | )   time to read: 1 min
In the spirit of “Who actually watches the game?,” here is our ranking of all the Super Bowl commercials we have been able to track down so far, from best to worst. Ground rules: Only ads being shown on the national CBS broadcast during the game are eligible. Certain spots, including several advocating a boycott of Tesla and a number of CBS promos for its own primetime series, were omitted from this ranking. Commercials not available beforehand or with a live component — including spots from FanDuel, TurboTax, the Foundation to Combat Antisemitism and the controversial Chinese e-commerce company Temu — will be added after the game. (If Travis Kelce proposes to Taylor Swift in a surprise ad for The Knot, we will probably have our winner.)
Persons: Travis Kelce, Taylor Swift Organizations: Super, CBS, Tesla, Foundation, Combat, Temu Locations: FanDuel
Temu, the controversial Chinese e-commerce giant looking to take on Amazon , is returning to the big game on Sunday with a Super Bowl ad that lawmakers are calling on Paramount Global and CBS not to run. The multi-million dollar investment put Temu on the map and by the end of 2023, it was the No. On Wednesday, 11 Republican lawmakers sent a letter to the CEOs of CBS, which is airing the Super Bowl, and parent company Paramount urging them not to run the advertisement. "Specifically, Temu 'does not have any system to ensure compliance with the Uyghur Forced Labor Prevention Act (UFLPA). Allowing Temu's commercial to air "would be a touchdown for the Chinese Communist Party against the home team," the letter stated.
Persons: haven't, Temu, Carol Miller, Byron Donalds, Jim Banks, Nicole Malliotakis, Christopher Smith, Pete Stauber, Ronny Jackson, Michelle Steel, Beth Van Duyne, James Baird, Mike Carey Organizations: Paramount Global, CBS, PDD Holdings, U.S, Republican, Paramount, Bowl, Chinese Community Party, Uyghur, Labor, Chinese Communist Party, Reps, Ohio . Paramount Locations: U.S, United States, Ohio
In addition to the commercial, Temu will be giving away $5 million in coupons and credits, an initiative already underway. On the day of the Super Bowl, Temu plans to do an additional $10 million in giveaways, the spokesperson said. It's rare for a Chinese firm to buy a Super Bowl ad spot, which costs millions of dollars . Temu, the e-commerce app run by Chinese company PDD Holdings , plans to run a Super Bowl ad on Sunday, a spokesperson told CNBC, as it looks to continue growing rapidly in the United States. Temu launched in September 2022 and shortly after aired its Super Bowl ad in 2023.
Persons: Temu, underscoring, PDD, Zappi, Temu's, Morgan Stanley Organizations: PDD Holdings, CNBC, Facebook, Temu's, Meta Locations: giveaways, United States, Temu's U.S, U.S, Temu
Hong Kong CNN —Shares in Alibaba sank as much as 7% in Hong Kong on Thursday, after the Chinese tech giant reported disappointing sales figures and announced it would suspend listings plans for two of its units. The news comes at a tough time for the tech giant. In December, the company reshuffled its top ranks after the stellar performance of a competitor caused a stir at Alibaba. The company’s announcement of a $25 billion share repurchase program, which it said demonstrated its confidence in its business and cash flow outlook, also failed to ignite interest among investors. Alibaba shares in New York closed 5.9% lower on Wednesday.
Persons: Joseph Tsai, , Alibaba, Jack Ma, PDD, Alicia Yap, Ma, , Laura Organizations: Hong Kong CNN —, Cainiao, Reuters, Refinitiv, ” Citi Locations: China, Hong Kong, Alibaba, New York
During that period Meta's ad revenue fell 4%, and Google's ad business suffered a similar drop . A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump. Meanwhile Alphabet, still the market leader, saw its Google ad business rise 11% to $65.5 billion, boosted by 16% growth at YouTube. Investors will get additional data on the digital ad market when Snap and Pinterest report earnings this week. On the whole, "digital advertising is continuing to eat up share" of worldwide advertising, Williamson said.
Persons: Li, Susan Li, Debra Aho Williamson, William Blair, Williamson, Meta Organizations: Google, YouTube, Insider Intelligence, CNBC, Intelligence, Meta, Investors, Bank of America Global Research Locations: Paris, Russia, Ukraine, China, Red
Recent research showed that boomers and Gen Xers shopped more frequently on Temu than younger people. I was surprised when I read a research study recently that said that Gen X and boomer Temu shoppers tended to spend slightly more per order and placed orders more often than younger shoppers. AdvertisementSo I asked readers who were boomers or Gen Xers to write in and tell me: Why do they love Temu so much? The Gen X and boomers denied this — most of them said they ignored the annoying roulette wheels. —LanieA variety of items bought by a Gen Xer on Temu Kristy MeeksA crafter who gets jewelry-making supplies:I shop on Temu mostly for jewelry, crafting and jewelry supplies.
Persons: Gen Xers, , fanny, Elsa, X, Temu, Xers, Tyrone A, I'm, They're, it's, — Linda, Kristy Meeks, Lydia, I've, Randy, Bill Craft supples, Bill Eldridge The Organizations: Service, Amazon Locations: Temu, Toronto, China
Meta to report fourth-quarter earnings after the bell
  + stars: | 2024-02-01 | by ( Jonathan Vanian | In | )   time to read: +3 min
Meta will report fourth-quarter earnings after the bell on Thursday. In Alphabet 's earnings report on Tuesday, the company said Google ad revenue increased 11% from a year earlier, slower expansion than analysts were expecting. Meta finance chief Susan Li most recently highlighted the significance of business from China in the company's third-quarter earnings report in October. Analysts expect Reality Labs to show revenue of $762.8 million for the quarter and an operating loss of $4.26 billion, according to StreetAccount. Apple and Amazon are also slated to report fourth-quarter results on Thursday, wrapping up earnings season for tech's mega-cap companies.
Persons: Mark Zuckerberg, Meta, Susan Li, Li, Zuckerberg Organizations: U.S, Capitol, LSEG, StreetAccount, Google, Facebook, Meta, Wednesday, Labs, Apple Locations: Washington , U.S, China
CNBC Daily Open: Hopes sink for March rate cuts
  + stars: | 2024-02-01 | by ( Sumathi Bala | )   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Overnight, U.S. stocks were sharply lower after Fed chair Jerome Powell said the central bank likely won't be ready to cut rates in March. China tough place for U.S. firmsMore U.S. companies are finding it tougher to be profitable in China compared to before the pandemic. [PRO] Jefferies top picksAlibaba, ASML are some of Jefferies' "highest-conviction" stock picks to buy.
Persons: Jerome Powell, Hang Seng, Paytm, Michael Hart, Meta's, Victor Lee, Jefferies Organizations: Federal Reserve, New York Stock Exchange, CNBC, Treasury, U.S, American Chamber of Commerce, Qualcomm, Jefferies Locations: New York City, U.S, Asia, Hong Kong, South Korea, India, Mumbai, China
Activist investor Elliott Management has a "sizable" investment in e-commerce firm Etsy , which announced on Thursday that Elliott partner Marc Steinberg would join the company's board. The activist investor has built a roughly 13% position in the stock, a person familiar with the matter told CNBC. The position would make it Etsy's largest investor. Still, the e-commerce company's stock is down about 10% year-to-date. It competes with e-commerce companies including Amazon, which has its own handcrafted products platform.
Persons: Elliott, Marc Steinberg, CNBC's David Faber, Josh, Steinberg, Etsy, Josh Silverman, Silverman Organizations: Nasdaq, Elliott Management, CNBC, Vanguard, BlackRock, Match Group, Philips, Amazon Locations: New York City, Salesforce, Brazil
Meta rally and Temu and Shein correction
  + stars: | 2024-01-31 | by ( )   time to read: 1 min
Vincent Lee is president of digital advertising firm Advantage Unified Commerce. An earlier version misstated the firm's name.
Persons: Vincent Lee Organizations: Unified Commerce
Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.
Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta
(L-R) Shou Zi Chew, CEO of TikTok, Linda Yaccarino, CEO of X, and Mark Zuckerberg, CEO of Meta testify before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Tillis and other lawmakers accused the tech executives of failing to protect children from sexual exploitation on their respective social media platforms. Growing appetite for regulationTo be sure, both Republican and Democratic senators were united in their conviction that social media firms are failing the American public and directly harming young people. Still, it takes time for bills to get passed, and all of these social media firms are still getting slammed for child-safety related issues, which could keep the topic fresh in the minds of politicians. Watch: Meta CEO Mark Zuckerberg apologizes to parents at online child safety Senate hearing.
Persons: Shou Zi Chew, Linda Yaccarino, Mark Zuckerberg, Meta, Alex Wong, Sen, Thom Tillis, Tillis, Josh Hawley, Zuckerberg, Tom Cotton, Chew Organizations: Dirksen, Facebook, Republican, Democratic, Meta, New, Apple, Lawmakers, Chinese Communist Party Locations: Washington , DC, Cambridge, China
Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Investors tend to assign a premium to software revenue because it is often recurring and higher margin than hardware. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jim, downgrades, preorders, we've, Jim said, Salesforce, Baird, Dupont De, Dupont, Walt Disney, Nelson Peltz, Estee Lauder, Fabrizio Freda, We've, he's, it's, Locker, Mary, Vimal Kapur, Eli Lilly, Lilly, Meta's Ray, Morgan Stanley, Ted Pick, James Gorman, , chipmaker, It's, hasn't, Stanley Black, Decker, Wells, Charlie Scharf, We'll, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, mojo, Vision Pro, Broadcom, VMWare, Bausch Health, Caterpillar, Dupont, Costco Wholesale, Coterra Energy, Dupont De Nemours, Disney, Eaton Corp, Ford, Holding, Federal Reserve, GE Healthcare, Wall, Google, Honeywell, Boeing, Airbus, Linde, Facebook, Microsoft, Nvidia, Alto Networks, Palo Alto, Procter & Gamble, Constellation Brands, Modelo, TJX, Wynn Resorts, We've, Wynn, Jim Cramer's Charitable Locations: China, Indonesia, Brazil, India, U.S, Shenzhen, We're, Eaton, Ford, That's, Palo, Palestine, Wells Fargo, Wynn, Macau
A research firm reports that boomers and Gen Xers are among Temu's most highly engaged shoppers. Boomers and Gen X shopped on the Chinese discount app more often and spent more than other generations. AdvertisementWhy, exactly, are boomers and Gen X loving Temu so much? Millennial shoppers purchased 3.3 orders on average, Gen X purchased 4.5, and baby boomers bought a whopping 5.6. That means among people who shopped at Temu, the average boomer placed twice as many orders as the average Gen Z shopper.
Persons: Gen Xers, Gen X, I'm, , Gen, Z, boomer, boomers, Temu, cheapo, Stanley, Xer Organizations: Boomers, Service, Facebook, Bloomberg, Gen X
Morgan Stanley and JPMorgan named their key China internet picks and the themes to watch right now. Focus is on resilient content leaders, unique growth opportunities, and AI enablers," Morgan Stanley said in a Jan. 18 note. Baidu Morgan Stanley described Baidu as the "best AI play" in China. Morgan Stanley pointed to its steady operating margin expansion and record-high subscription revenue growth in the second to third quarter of 2023. Morgan Stanley's price target is $150, or 67.7% potential upside.
Persons: Morgan Stanley, JPMorgan, Pinduoduo, Morgan, Baidu Morgan Stanley, Baidu, NetEase, — CNBC's Michael Bloom Organizations: JPMorgan, Alpha, Baidu Locations: China, United States
Temu was among the fastest-growing large websites in the US last year, according to a new analysis by Similarweb. When considering only websites with more than 10 million monthly visits, Temu came in second only to OpenAI, which saw its traffic grow by 2,690% in 2023 as AI exploded into the mainstream. The ad intelligence company told Modern Retail that Temu spent an estimated $517 million on US ads between September and December 2023. AliExpress, the Alibaba-owned online marketplace, was in third place behind Temu with year-over-year traffic growth of 290%. AliExpress was launched in 2010 but still saw significantly less traffic than Temu in 2023, with an average of about 24.2 million monthly visits.
Persons: Temu, David Carr, AliExpress, Carr Organizations: Pinduoduo Holdings, Business, Modern, Duo Security Locations: Boston, China
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