Amazon to shut down online store in China amid stiff competition from local players
With the closure of its e-commerce store, Amazon will focus on Amazon Web Services, Kindle e-books, and cross-border operations in China
- Apr 23, 2019,
- Updated Apr 23, 2019 4:18 PM IST
Global retail behemoth Amazon has decided to shut its e-commerce marketplace business in China by July 18. The Jeff Bezos-controlled company will reportedly continue to run its other businesses in the most populous country of the world. With the closure of the online store, Amazon will focus on Amazon Web Services, Kindle e-books, and cross-border operations in China. Amazon entered China in 2004 with the purchase of online retailer Joyo.com for $75 million and rebranding it as Amazon China.
After Amazon shuts down its e-commerce platform, Amazon.cn, buyers will only see a selection of goods from its global store. Instead of products from third party sellers, buyers can order products from US, Britain, Germany and Japan. Sellers interested in continuing to sell on Amazon outside China could do so through Amazon Global Selling. This will cater to both the Chinese buyers looking to buy high-quality products from around the world, as well as Chinese sellers marketing their merchandise abroad.
Walmart CEO Doug McMillon says committed to Indian market; lauds Flipkart's progress in e-commerce
Global retail behemoth Amazon has decided to shut its e-commerce marketplace business in China by July 18. The Jeff Bezos-controlled company will reportedly continue to run its other businesses in the most populous country of the world. With the closure of the online store, Amazon will focus on Amazon Web Services, Kindle e-books, and cross-border operations in China. Amazon entered China in 2004 with the purchase of online retailer Joyo.com for $75 million and rebranding it as Amazon China.
After Amazon shuts down its e-commerce platform, Amazon.cn, buyers will only see a selection of goods from its global store. Instead of products from third party sellers, buyers can order products from US, Britain, Germany and Japan. Sellers interested in continuing to sell on Amazon outside China could do so through Amazon Global Selling. This will cater to both the Chinese buyers looking to buy high-quality products from around the world, as well as Chinese sellers marketing their merchandise abroad.
Walmart CEO Doug McMillon says committed to Indian market; lauds Flipkart's progress in e-commerce