• Temu tops 2024 Apple App Store downloads, surpassing TikTok and ChatGPT in popularity.
• The Chinese e-commerce app offers big discounts on a wide range of products.
• Americans appear to be exploring budget-friendly options through in-app deals.

The App Store favorites of 2024 include social media platforms and one popular AI assistant, but the most downloaded app of the year was Temu.

The Chinese-owned e-commerce app was downloaded more times this year than TikTok, Threads, or ChatGPT, according to Apple. It's become known for big discounts on various products, from tech gadgets to apparel.

Temu, owned by PDD Holdings, is particularly popular among Gen Z consumers in the US. Gen Zers between 18 and 24 downloaded it 42 million times during the first 10 months of 2024, according to the app analytics firm Appfigures, which pulled data from iOS and Android users.

The e-commerce giant launched in the US in 2022 and has had a meteoric rise since then. PDD Holdings' third-quarter sales grew 44% to $14.2 billion from the same period in 2023, according to exchange rates on September 30.

It has invested millions to market to American shoppers. Three Temu ads aired during the Super Bowl, where one 30-second clip during the highly-viewed game can cost $7 million.

With Donald Trump threatening high tariffs on Chinese goods, Temu's popularity could be at risk if it resorts to raising prices to offset a possible 60% levy on its products.

Apps from retailers Amazon, Shein, and McDonald's also made the Apple App Store's top 20 most-downloaded list this year — indicating that consumers were on the hunt for a deal across categories.

McDonald's has found success in using targeted in-app promotions to build loyalty among its customers.

The chain's head of US restaurants said earlier this year that loyalty customers visit 15% more often and spend nearly twice as much as non-loyalty customers, with loyalty platform sales expected to hit $45 billion by 2027.

Amazon, for its part, has sought to capitalize on Temu and Shein's low-price appeal with a new Haul section, which is also an app-only shopping experience.

As former Starbucks CEO Laxman Narasimhan was fond of saying, “The best offers are in the app.”

​Temu was the most downloaded iPhone app of 2024, revealing a consumer obsession with deals. It surpassed TikTok and ChatGPT downloads.  Tech, apple, app-store, temu, chat-gpt, amazon All Content from Business Insider