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Small businesses struggle as China’s Temu spurs more Latin Americans to shop online
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The total value of e-commerce sales in Latin America amounted to $815 billion in 2024.
PHOTO: ALFIE PANNELL
Alfie Pannell
Follow topic:
- Temu catalysed Colombia's shift to online shopping, driving e-commerce growth by 16.4%.
- Temu's low prices challenge local businesses, causing sales decline and job losses, says Fenalco president. Colombia's businesses are requesting the closure of the de minimis loophole.
- Facing US tariff hikes and closed tax loopholes, Temu is expanding in Latin America, boosting ad spending. Rivals like Mercado Libre are adapting with free shipping.
AI generated
BOGOTA, Colombia – Since formally launching in Colombia in May 2024, Chinese e-commerce platform Temu has taken the country by storm, usurping Amazon to become the second-most popular shopping site after Argentine giant Mercado Libre.
But the Chinese firm’s success does not lie just in outcompeting rival e-commerce sites.
