Last updated on October 7th, 2019 at 04:05 pmReading Time: 2 minutes
Amazon – one of the most popular e-commerce giants is planning to shut its operations in China. This move from Amazon is due to its admission of the defeat to the local e-commerce names such as Alibaba, etc. These local e-commerce names controlled nearly 82% share of the e-commerce market in China.
Amazon is planning to shut its online store in China by 18th July. However, Amazon will continue to maintain its other operations and services such as Kindle e-books. Amazon Web Services (AWS) and cross-border teams for shipping goods from Chinese merchants to the abroad customers.
The same thing has been confirmed from the company as well, as one of their representative said, “We will continue to invest and grow in China across Amazon Global Store, Global Selling, AWS, Kindle devices, and content.“
A spokesperson from Amazon said, “We are working closely with our sellers to ensure a smooth transition and to continue to deliver the best customer experience possible.” He further added, “Sellers interested in continuing to sell on Amazon outside of China are able to do so through Amazon Global Selling.“
This latest move from Amazon seen as its latest sign to focus attention on the growing market available in India. After facing difficulties from Chinese rivals and competitions. Amazon entered the Chinese market in the year 2004. It has been performing well, Until recent times when the local e-commerce names took over the market.
“Over the past few years, we have been evolving our China online retail business to increasingly emphasis cross-border sales. And in return, we’ve seen a very strong response from Chinese customers,” the Amazon spokesperson said.
Sourced from its global network, The Chinese website of Amazon, Amazon.cn. It will feature only the diminished offerings which will begin from July 18.