Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Amazon plans to launch discount store in bid to fend off Temu and Shein

by June 27, 2024
June 27, 2024
Amazon plans to launch discount store in bid to fend off Temu and Shein

Amazon plans to launch a new section on its site dedicated to low-priced fashion and lifestyle items that will allow Chinese sellers to ship directly to U.S. consumers, CNBC has learned.

The storefront, announced at an invite-only conference for Chinese sellers on Wednesday, would mark Amazon’s most aggressive attempt yet to fend off growing competition from e-commerce upstarts Temu and Shein, which both have ties to China, the world’s second-largest economy.

Temu and Shein have expanded their presence in the U.S. in recent years, luring an increasing share of American shoppers with their rock-bottom prices on clothing, electronics, home goods and other products.

Amazon’s storefront will feature a range of unbranded items, many priced under $20, according to a presentation to Amazon sellers viewed by CNBC. A mock-up of the storefront showed a gua sha facial massaging tool, arm weights and phone cases, among other items for sale.

Amazon will ship the products directly from China to the U.S., with the goal of delivering them to shoppers within nine to 11 days, the presentation shows. In the past, Amazon sellers in China have relied on the company’s fulfillment services, called Fulfillment by Amazon, to send goods to warehouses in the U.S. before they are dispatched to customers.

The company pitched the arrangement as cost savings for Amazon sellers in China, and said merchants would be able to test new items through small-batch production. Shein uses a similar model, referred to as on-demand manufacturing, producing a limited quantity of goods and manufacturing more as demand increases.

In a statement to CNBC, Amazon spokesperson Maria Boschetti said, “We are always exploring new ways to work with our selling partners to delight our customers with more selection, lower prices, and greater convenience.”

Boschetti declined to comment further on the company’s plans, which were first reported by The Information. It is unclear when Amazon intends to debut the storefront, but the presentation notes it will start accepting products this fall.

China-based merchants have made up a sizable contingent of Amazon’s marketplace for many years, but the company is making a renewed push to court sellers there as it faces growing competition. In December, Amazon announced a new “innovation center” in Shenzhen, a popular technology and manufacturing hub, and it also slashed the fees it charges merchants selling clothing priced below $20.

Amazon said in 2023 the number of items sold by Chinese sellers on its site grew more than 20% year over year, while the number of Chinese merchants with sales upward of $10 million increased 30%.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Rivian secures up to $5 billion from Volkswagen; shares soar 40%
next post
Radiopharm Theranostics Completes A$70 Million Placement

Related Posts

Autoworkers go on strike at plants at each...

September 16, 2023

Elon Musk says backlash against his DOGE government...

April 2, 2025

What the National Association of Realtors’ settlement means...

March 17, 2024

JPMorgan CEO Jamie Dimon hopes for soft landing...

April 30, 2024

Wendy’s will offer $3 breakfast deal, as rivals...

May 21, 2024

Capital One outage drags into Friday afternoon, leaving...

January 18, 2025

Southwest Airlines and pilots’ union reach preliminary labor...

December 21, 2023

Rural town braces for Tyson plant closure as...

August 28, 2023

On air, ’60 Minutes’ reporter says ‘none of...

April 29, 2025

Sweetgreen managers in New York used the N-word...

September 16, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • Blue Lagoon’s Dome Mountain Joins BC’s Select List of Permitted Projects

    • Harmony Gold to Acquire MAC Copper in US$1.03 Billion Deal

    • NorthStar Gaming Announces Results of Annual Meeting and Grant of Equity Incentive Awards

    • Allied Critical Metals Commences 5,000 Metre Drill Program at its Borralha Tungsten Project

    • SOURCE ROCK ROYALTIES ANNOUNCES FIRST QUARTER 2025 RESULTS

    Categories

    • Business (1,223)
    • Investing (2,509)
    • Politics (3,699)
    • Stocks (1,617)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved