Postidal, an online retailer, faces fierce competition in the online retail sector, competing to attract customers with their low-cost, US-made and mostly, China-made products. Temu and Wish.com are ones of the few companies Postidal will have to face, especially as Temu’s online retail increases significantly, for instance.
Today Reuter reported that in U.S. federal court, SHEIN has accused Temu of contracting social-media influencers to make “false and deceptive statements” against SHEIN in their promotions of Temu.com. If Temu loses, Temu could be forced to curtail what so far has been a key marketing strategy. SHEIN seeks to block Temu from using SHEIN’s name for marketing, and it wants damages from sales that SHEIN can show came through deceptive or infringing marketing. Temu has asked the court to dismiss the lawsuit.
Not to mention that wish.com stock has plummeted since last year. Maybe Postidal will make the difference and become the online retail we’ve been expecting for a long time. Maybe Postidal’s CEO and founder, Marvin Amparo Santana, will indeed create more than just online retail but also an innovative tech company.
CEO Vijay Talwar has left Wish after seven months. In its most recent quarter Wish reported an 80% drop in revenue year over year, and a net loss of $90 million.
Postidal couldn’t be reached for comments at this moment.
COMTEX_426601073/2757/2023-03-14T15:06:36