News Snapshot:
Online retailers Shein and Temu are on track to record more than $2 billion in sales in Australia this year, but their meteoric rise is coming at the expense of local businesses who cannot compete on price or match their relentless advertising strategy. Research from Roy Morgan shows that more than 2 million Australians are shopping each month with the online retailers, known for selling homewares, electronics, and apparel at dramatically low prices. "The number of people that are shopping on these platforms is quite extraordinary," says Michele Levine, Roy Morgan's chief executive. "When we were first thinking about whether...
