Cheap shop from China - consumer advice center warns of hidden costs at Temu - financial expert gives most important tips.

Cheap shop from China - consumer advice center warns of hidden costs at Temu - financial expert gives most important tips.

According to a report from www.kreiszeitung.de, the Temu app is met with harsh criticism due to its extremely low prices. The North Rhine-Westphalia consumer advice center warns of hidden costs and security risks when purchasing via the app. It is recommended to check the app's privacy settings, exercise caution, and most importantly pay attention to the authenticity of product reviews. Furthermore, consumers should pay attention to the fact that the goods come from third-party suppliers outside the EU and that customs duties and long delivery times may therefore apply. The cheap products can also have defects in terms of quality and counterfeit products can have legal consequences.

The impact on the market can be significant. Competition for established providers such as Amazon and other online shops with low prices could increase. This could lead to increased competition and possibly lower prices. However, consumers could also suffer if they have to incur unexpected expenses due to hidden costs and quality defects. This could also affect consumer trust in similar offers.

It is important that consumers are aware of the potential risks associated with purchasing extremely cheap products through apps like Temu. By complying with customs regulations and pointing out possible security gaps in the app, consumers can be protected from unpleasant surprises. It remains to be seen how the platform and other similar offerings will be regulated in the future to ensure consumer protection.