Forecasts worldwidesee more in: ai, ai startups, artificial intelligence, automation, bb, bb payments, commercial payments, . Mechanize, news, pymnts Optimize Your For Engagementnews, tamay besiroglu, what’s hot, what’s hot in bb, workplace automationtemu reportedly . Cuts back on paid ads after tariff price hikesby pymnts | april , | last . Week, popular ecommerce retailers shein and temu announced plans for tariff-related price hikes.So far, it’s . Not clear if these increases — scheduled to go into effect april — have caused . The companies’ traffic to spike, ars technica reported friday (april ).
To Encourage Customer Referrals
However, the report said, . Data from jordan phone number data similarweb suggests that temu has significantly scaled back on paid advertising, leading to . An % downturn in paid search traffic. This could suggest that if temu cuts back . On ads, it could also push away shoppers, destabilizing its price models even further.Both shein . And temu sent almost identical letters to customers informing them of the price increases and . Encouraged them to shop “now at today’s rates.” as covered here last week, the two .
To Promote Sales Events
Companies had been able to keep prices down due to the “de minimis” exemption that . Allowed duty-free entry for goods priced below $ however, the what you need to know about using social media emojis new u.S. Tariff policy closes . That loophole starting may “due to recent changes in global trade rules and tariffs, our . Operating expenses have gone up. To keep offering the products you love without compromising on . Quality, we will be making price adjustments starting april , ,” the statements from both . Companies said.
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In addition to the end of the de minimis exemption, shein and temu are . Also dealing with u.S. Tariffs on chinese imports, which has led the companies to seek . Workarounds such as moving their production lines out of china.Meanwhile, online sales have been muted . Recently, according to new government data, as consumers up their spending on big ticket items . Like electronics and cars in anticipation of the new tariffs.“but there were some indications that . Consumers and households bought new wheels and tvs at the expense of other categories,” pymnts .
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Wrote.“furniture and home furnishing consumer data stores reported $ billion in sales, reflecting a % month-over-month decline, . Though sales were still up % compared to march department stores — which are key . Channels for home furnishings — performed poorly for the second consecutive month, with sales declining . % in march and % in february, resulting in a % decrease compared to march . ”also last week, quarterly earnings from bank of america, pnc and citigroup all reinforced the . Same conclusion: robust consumer spending is propping up results, even as businesses and institutions wrestle .