Reported 9 months ago
Amazon is launching a new section on its platform for affordable fashion and lifestyle goods from Chinese sellers. This move is seen as a response to the growing competition from platforms like PDD, Temu, and Shein. Chinese e-commerce stocks including Alibaba, JD.Com, and PDD are trading lower. The new Amazon storefront will feature unbranded items priced below $20 and marks a shift from using Fulfillment by Amazon services. Chinese sellers on Amazon saw a 20% increase in items sold in 2023. Current price actions show BABA down 0.98% at $73.44, JD down 1.27% at $27.16, and PDD down 1.44% at $136.24.
Source: YAHOO