Express News | 'Amazon's Bargain Store Would Use Same Trade 'Loophole' as Temu, Shein' - The Information
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Temu, which rapidly expanded overseas with a low stock price strategy, made Amazon feel a strong sense of crisis. Recently, according to multiple media including The Information, Amazon plans to launch a "discount/low price store" on its shopping website, specializing in the sale of cheap commodities directly shipped from Chinese warehouses to overseas consumers. This new sector of Amazon will provide fashionable products, housewares, and daily necessities of white brands at prices lower than $20, and orders will take 9 to 11 days to arrive at customers. Amazon told Chinese sellers at a recent closed-door meeting that it will start signing merchants this summer.
Amazon's Low-Price Channel May Draw Chinese Sellers From Temu -- Market Talk
U.S. stocks closed with a thrilling increase in all three indexes, with most technology stocks rising. Amazon rose more than 2%, once again reaching a historic new high.
S&P 500 rose 0.09%, Dow Jones rose 0.09%, and Nasdaq rose 0.3%; chip stocks continued to decline, with Nvidia falling nearly 2%; Chinese concept stocks weakened, with Xiaopeng falling nearly 7% and JD.com falling more than 4%.
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Shares of Chinese ECommerce Companies Are Trading Lower After Amazon Announced That It Will Launch a New Section on Its Website to Help Chinese Sellers Ship Fashion and Lifestyle Items to U.S. Consumers.
Express News | Shares of Chinese ECommerce Companies Are Trading Lower After Amazon Announced That It Will Launch a New Section on Its Website to Help Chinese Sellers Ship Fashion and Lifestyle Items to U.S. Consumers
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Amazon Plans Discount Web Store to Counter China's Temu, Shein
U.S. stocks close | S&P 500 rises for two consecutive days, Amazon up nearly 4%, with a market cap exceeding $2 trillion; shareholder meetings could not reverse the decline, and Nvidia barely closed up.
The Dow Jones Industrial Average closed slightly higher, still hovering near its weekly low, while the seven sisters of American technology stocks rose together, with Tesla up nearly 5%; Micron's financial report is bullish but the guidance is not enough to surprise, and it fell more than 9% after hours; China concept stocks index is hovering near a ten-week low, with NIO Inc. up more than 6%.
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'Amazon To Launch Temu-Like Discount Section With Direct Shipping From China' - The Information