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Amazon.Com Inc AMZN is set to launch a new section on its website dedicated to affordable fashion and lifestyle items, enabling Chinese sellers to ship directly to U.S.
consumers . The storefront marks Amazon’s boldest move yet to counter rising competition from e-commerce platforms PDD Holdings Inc PDD Temu and Shein. Chinese e-commerce stocks, ranging from Alibaba Group Holding BABA to JD.
Com, Inc JD to PDD, are trading lower Thursday. Also Read: Alibaba Cloud’s Livestream Event Draws Millions, Sparks Cloud Computing Price War Temu and Shein have strong ties to China and have attracted a growing number of American shoppers with their low prices on clothing, electronics, home goods, and more. Amazon’s upcoming storefront will offer a variety of unbranded items, many priced under $20.
In the past, Chinese sellers have used Amazon’s Fulfillment by Amazon (FBA) services to send goods to U.S. warehouses before dispatching them to customers, CNBC reports .
In 2023, the number of items sold by Chinese sellers on Amazon’s site grew by more than 20% year-over-year. Price Actions: BABA shares traded lower by 0.98% at $73.
44 premarket at the last check on Thursday. JD stock is down 1.27% at $27.
16, and PDD is down by 1.44% at $136.24.
Also Read: Alibaba’s 618 Shopping Festival Boosts Sales with Big Brands Like Apple, Xiaomi Leading the Way Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzi.
