According to the latest reports, the well-known giant e-commerce site, of course, I am talking about Amazon will close its online store on its China portal simply to focus on other more lucrative businesses in the face of competition from the well-known Chinese firms like Alibaba and JD. However, till the July 18 of 2019, Amazon.cn customers will only be able to acquire imported goods, as well as books only in the electronic format and the services in the cloud.
BAD NEWS! Amazon Shutting Down Its Online Store
The well-known giant e-commerce site, of course, I am talking about Amazon will close its online store on its China portal simply to focus on other more lucrative businesses in the face of competition from the well-known Chinese firms like Alibaba and JD. However, till the July 18 of 2019, Amazon.cn customers will only be able to acquire imported goods, as well as books only in the electronic format and the services in the cloud.
As in a statement, the company, of course, the well-known giant e-commerce site Amazon wanted to clarify that it will not abandon the Chinese market, hence, as an essential step, they stated that all the merchants in this country who still want to operate through its portals could simply use their cross-border sales platforms.
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Moreover, here’s what the well-known giant e-commerce site, of course, I am talking about Amazon said in a statement that “Over the past few years, we have evolved our online retail business in China simply to focus more and more on cross-country sales, hence, we work hand-in-hand with our sellers to ensure a smooth development. Hence, our commitment to China remains strong,” concluded.
While according to the latest reports, the e-commerce portals like Tmall which is owned by Alibaba and JD controlled 81.9% of the market share of the sector in which they compete with Amazon in the Asian giant, a country in which other emerging companies like the Chinese Pinduoduo are also posing hurdles to the well-known giant e-commerce site, Amazon which is led by Jeff Bezos.
Moreover, we all know very well that the giant e-commerce site, Amazon came to China in 2004 when it bought the Joyo.com, a well-known online store for 75 million dollars.
However, despite launching Amazon Prime in China in 2016 to attract more customers with its free-of-charge program within a flat rate, analysts point to its ability to compete with local companies is limited, as it is very clear that local companies know well the Chinese consumers than the Amazon.
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While the well-known giant e-commerce site, Amazon’s main competitive advantage in China is its vast selection of international products, which could be reduced as the plans of Chinese companies like Alibaba go through to improve their cross-border trading platforms.
Although the business of Amazon in the Asian giant, China did not go through its best, but, still the giant e-commerce site, of course, Amazon tripled its net profits in 2018 to 10,073 million dollars and not only that even its turnover also increased 31% year-on-year to 232887 million dollars. So, what do you think about this? Simply share all your views and thoughts in the comment section below. And if you liked this post then simply do not forget to share this post with your friends and family.
