Chinese e-commerce firm PDD Holdings' shopping platform, Temu, is aiming to outperform Shein, the world's leading fast-fashion retailer, within a year. The company's sales target for its North American arm is to achieve a day's gross merchandise value that tops Shein's.

The app, which offers a wide range of low-priced items, from clothing to kitchenware, launched in the US five months ago and quickly achieved $500m in GMV. In January alone, sales were almost $200m.

Temu is betting on a significant marketing campaign to drive sales growth, and launched two 30-second Super Bowl adverts in February, while rolling out social marketing practices including discounts, cash rewards and free gifts to customers who refer their friends.

The firm has already attracted 24 million downloads and about 11 million monthly active users, up 47 per cent from the December shopping season. Its next goal is to take on Amazon and eBay.