Sign of the times as online juggernaut Temu tops global shopping app downloads in 2024

Temu was the most downloaded shopping app worldwide in 2024, as consumers sought options to address inflation, high interest rates, and economic uncertainty.

The platform’s success also reflects a growing consumer preference for one stop shopping experiences offering a wide range of products across sectors at competitive prices, according to Sensor Tower’s State of Mobile 2025 report.

“Consumers increasingly look for platforms where they can shop across sectors,” said the report, which analysed iOS App Store and Google Play data from 1st January 2014, through 31st December 2024. Temu’s “supply chain advantage allows it to offer free shipping and bargain pricing, resonating globally as consumers grapple with inflation, rising interest rates, and an uncertain geopolitical environment.”

According to the report, Temu ranked as the fourth fastest app launched in the past three years to reach 50 million monthly active users (MAUs) globally, achieving the milestone within eight months of its September 2022 debut.

Its pricing strategy is underpinned by a direct from factory model, connecting shoppers directly with manufacturers. By cutting out intermediaries, the platform maintains competitive pricing and operational efficiency. Since its US launch in September 2022, Temu has expanded to 90 markets, including the Americas, Europe, the Middle East, Africa, Asia, and Oceania.

According to SensorTower, it led retail app download charts in 15 major markets in 2024, including the US, Australia, Brazil, Canada, France, Germany, Italy, Japan, Mexico, Saudi Arabia, South Korea, Spain, Turkey, the UAE, and the UK.

A benchmarking study by UK-based Cebr found that UK households could save up to £3,000 ($3,700) a year by shopping on a direct-from-factory platform like Temu, as cost savings from eliminating middlemen and their markups are passed on to consumers.

Temu has also started recruiting local sellers and establishing local fulfillment services in 16 key markets, including the US, UK, Germany, France, and Japan, to expand product offerings and improve delivery times.

Local fulfillment enables it to offer bulkier merchandise, such as furniture, industrial equipment, and other high-value items that may not have been readily available online previously. Delivery speed is also expected to improve, with fulfillment times for some items reduced to as fast as the next business day.

Temu has reportedly estimated that as much as 80% of its European business could eventually come from its local-to-local model, enabling sellers to reach new customers across regions.

2024 RTIH INNOVATION AWARDS

Online retail was a key focus area at the sixth edition of the RTIH Innovation Awards.

The awards celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering.