PDD Holdings (NASDAQ:PDD) shares folded Friday, on word its e-commerce app Temu, plans to run a Super Bowl ad on Sunday, as it looks to continue growing rapidly in the United States.
It’s rare for a Chinese firm to buy a Super Bowl ad spot, which costs in the millions of U.S. dollars. But this will be Temu’s second ad at the football event — it ran its first commercial last year, underscoring how aggressively its parent company PDD is trying to crack the U.S. market.
In addition to the commercial, Temu will be giving away $5 million in coupons and credits, an initiative already underway. On the day of the Super Bowl, Temu plans to do an additional $10 million in giveaways.
Temu launched in September 2022 and shortly after aired its Super Bowl ad in 2023. That commercial features a young woman amazed at the cheap prices on clothing and accessories that Temu has to offer.
“The prices blow my mind. I feel so rich. I feel like a billionaire. I’m shopping like a billionaire,” goes the ad’s jingle.
Temu is continuing to spend big on marketing to acquire users via platforms like Facebook. Temu’s U.S. ad spend increased 318% and 101% year on year in the fourth quarter of 2023 on Meta (NASDAQ:META)-owned
Facebook and Instagram, respectively, according to data from Sensor Tower.
PDD shares lost 42 cents Friday to $126.24.
Related Stories
