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Amazon.Com Inc (NASDAQ:AMZN) is intensifying its efforts to recruit more sellers in China. It aims to expand its affordable product offerings in the U.S. and other markets to compete with Chinese rivals like PDD Holdings Inc’s (NASDAQ:PDD) Temu.
Other Chinese e-commerce rivals included Alibaba Group Holding Limited (NYSE:BABA) and JD.com, Inc (NASDAQ:JD).
Also Read: Alibaba To Boost B2B E-Commerce With New AI Sourcing Engine Launch in September
In late July, Amazon hosted an event for online sellers in Shenzhen, Guangdong province, promising support for their global market entry, Nikkei Asia reports.
Amazon has reduced its consumer-focused operations in China. It ended its domestic e-commerce service in 2019 and recently shut down its Kindle e-book service.
However, Amazon is now re-evaluating China as a source of goods for its global markets and is actively cultivating sellers there.
In 2024, Amazon opened new offices in Wuhan, Hubei province, and Zhengzhou, Henan province, to support sellers in surrounding areas.
Amazon’s China vice president told Nikkei Asia that in 2024, the company plans to host dozens of events for thousands of sellers.
Additionally, Amazon is building a framework to deliver Chinese products to the U.S. at lower prices.
Amazon’s push to develop sellers in China stems from concerns over its declining presence in the U.S. amidst the rise of low-cost online shopping services like Temu and Shein.
Prior reports indicated Amazon’s plans to launch a new website section for affordable fashion and lifestyle items, allowing Chinese sellers to ship directly to U.S. consumers.
Alibaba secured the top spot among China’s comprehensive e-commerce retailers in 2023, capturing a 46% market share. JD.com followed in second place with a GMV share of 27.2%, as per Statista.
Price Actions: AMZN stock traded higher by 1.01% at $164.40 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy of Amazon
