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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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Walmart falls after CEO of more than a decade steps down

Walmart’s stock fell as low as 3% this morning in premarket trading on news that its longtime CEO, Doug McMillon, who helped the company beef up its e-commerce segment against Amazon, will be stepping down.

While Walmart’s sales came in above expectations last quarter, it missed on quarterly earnings. It’s also facing an increasingly dominant Amazon, which is pushing further into Walmart’s territory with same-day grocery delivery in more than 1,000 cities and towns in the US, with plans to expand to 2,300 by the end of the year.

And unlike Walmart, Amazon, in addition to e-commerce and physical stores, has a number of other, much higher-income revenue streams — most notably its fast-growing cloud business, AWS. Earlier this year, Amazon nudged ahead of Walmart in overall revenue, and is expected to continue to build on that lead when Walmart reports Q3 earnings next week.

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The stock is down this morning, undoing some of its stunning year-to-date rise.

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Skydance Officially Closes Deal To Merge With Paramount

Paramount Skydance says its DTC streaming biz will be profitable this year

The studio reported its third-quarter earnings on Monday, the first since the Skydance takeover, and now sees $3 billion in cost savings (up from $2 billion).

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