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Traffic to Temu’s website plummeted by more than 50% last month

The de minimis exemption on small packages shipped to the US officially ended on May 2 — but, according to web traffic data from Similarweb, Chinese retailers Temu and Shein were already seeing visits to their respective websites drop sharply the month before, as retailers raised prices in the wake of the Trump administration’s trade tariffs.

Temu and Shein traffic chart
Sherwood News

Temu in particular, which is owned by PDD, saw web traffic to its site fall by 55% in April alone after hitting a recent peak of ~390 million visits in March, when consumers were reportedly hoarding products in anticipation of the trade loophole’s closure, while visits to shein.com saw a 23% decline.

In fact, per Bloomberg, Temu and Shein are already seeing double-digit sales declines in the US in the week after announcing price hikes to cover the costs of new 145% import taxes on shipments from China.

At the same time, US-based retail giants like Amazon, Walmart, and Target have also issued warnings about price increases, since many of their low-cost products rely on Chinese suppliers affected by the tariffs. Still, traffic to Amazon’s website was down only 4% in April relative to March.

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“Madden” maker EA surges on report it’s nearing $50 billion deal to go private

Shares of video game giant Electronic Arts are surging up more than 15% Friday following a Wall Street Journal report that the company is nearing a roughly $50 billion deal to go private.

According to the WSJ, an investment group including Saudi Arabias Public Investment Fund and PE firm Silver Lake (which is also part of the TikTok deal) could announce a deal next week.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EAs most intimidating competitor, Grand Theft Auto publisher Take-Two Interactive, climbed nearly 5% on the report.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EAs most intimidating competitor, Grand Theft Auto publisher Take-Two Interactive, climbed nearly 5% on the report.

$12.5B 🛍️

Uber’s relying less on pad thai from 0.8 miles away. The company expects gross bookings (what customers spend) of non-restaurant deliveries to grow to $12.5 billion by the end of the year, according to reporting by Bloomberg.

The new forecast marks a 25% boost from the $10 billion estimate Uber shared in May for the delivery of groceries and items from retail partners like Best Buy.

Through the first half of the year, Ubers total delivery gross bookings climbed to more than $42 billion, up about 18% year over year. That nearly matches the gross bookings of its ride-hailing business in the same period.

NikeSKIMS

Nike, trying to break out of its funk, launches its high-stakes collab with Kim Kardashian’s Skims

The partnership champions women athletes and tests how far Kim K’s star power can stretch in the women’s activewear arena.

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