Fonto data has revealed that, for the first time since its Australian launch, Temu has passed eBay for total market share of pure play Online Retailers as it continues its rapid ascent.
Launching in early 2023, Temu’s share of spend in the category jumped to 20% for the month of October 2024, with eBay (17%) dropping to its lowest point since Fonto started recording market level data. This continues a steady decline for eBay from a peak of 43% at the beginning of 2022.
Amazon continues to lead the category, capturing just over half of all Online Retail spend during October, a 16% gain on their share during the same period in 2023.
Additionally, October marked the second consecutive month where Temu’s market penetration (10.9%) exceeded eBay’s (10.4%).
Temu’s growth has also come at the cost of smaller retailers such as Kogan, Catch and The Iconic, all of which have showed steady market share decline since launch.
While Amazon customers remained relatively loyal, spending 75% of their category spend with the retailer, Temu customers were still splitting almost 31% of their category spend with either Amazon or eBay during the period.
More than 80,000 Australians share their financial transactions data privately and securely with Fonto, allowing them to understand buyer behaviour over time accurately and directly survey them within 48 hours of purchase to understand the customer experience and the ‘why’ behind purchase decisions. Fonto works directly with brands and with an extensive network of Australian research and consulting agencies.
