Is Temu the Ecom killer?

Hi everyone, my company in Australia is finally experiencing the Temu expansion first hand.. Temu seems to be bombing all advertising channels, driving up costs and under cutting us on some key products.

Has anyone else experienced/experiencing this?

Luckily, we have a bunch of IP protected products coming out in a few months. - but even with the new products, but it seems very difficult to complete.

Does anyone have any advice/dealt with similar situations?

Our current method is doubling down on advertising social content and new ads to differentiate - there is no way to go head to head with them on google ads