- Growth Daily
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- Wednesday, July 12
⬇️ Today’s Deep Dive: How Shein and Temu are stealing Amazon’s traffic
MARKETING NEWS
⚡️ Today’s Headlines ⚡️
🚀 Threads team says they’re shipping improvements this week
👾 Twitch is adding a new TikTok-like discovery feed & ‘stories’ format
💸 Snap’s getting creators back with popular new ad revenue sharing
🚫 Mosseri says Threads won’t encourage politics and hard news
📸 OpenAI will license data from Shutterstock in new deal expansion
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TOOLS & CONTENT
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🧵 While some people are wary that Threads won’t dethrone Twitter, many creators are optimistic about the platform.
🤨 Do you really need to start building a Threads strategy? Later says, not yet.
TODAY’S DEEP DIVE
📰 TL;DR: Happy Prime Day to all who celebrate! The Amazon-crafted Black-Friday-esque holiday has been in business since 2015, manufactured as a way to create excitement for deeply discounted products through the online retailer. The sales celebration has now been coopted by other brands like Target, Walmart, and Best Buy (just to name a few) to jump on the bandwagon of increased eCommerce traffic looking for a deal.
Meanwhile Chinese-owned brand Shein doesn’t need special holidays, because they’re deeply discounting their products every day. According to the WSJ, “the 11-year-old company is now the top fast-fashion retailer in the U.S., with a 40% market share.” Combine that with the rapid success of newcomer eCommerce company Temu – with Temu users spending 13 mins/day on the app vs Amazon’s 6 mins/day – and you can see why Bezos & Co. should be taking their competitors seriously.
💡 Insight: You’re never too big (or to small) to evade the competition. Instead of laughing them off or assuming you could never take on the big hitters, challenge yourself.
Think you’re a major industry player? Don’t ever get too comfortable. Never deprioritize innovation and ideation.
Think you’re just a small fish in a big pond? Lean into your ability to be nimble and iterate fast. Take advantage of the big brands not noticing and sneak up on them before they can adjust.
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