× TECHNOLOGY
SOFTWARE NETWORKING CLOUD IT SERVICES MOBILE SECURITY STORAGE IOT DATA ANALYTICS CYBER SECURITY ORACLE SAP BIG DATA
BUSINESS
DIGITAL MARKETING ERP RETAIL HEALTHCARE TELECOM
MAGAZINE
CURRENT ISSUE ARCHIVE
OPINION ABOUT US CONTACT US CLIENT FEEDBACK

Amazon to shut its Online Store in China

amazon china online store closing

The e-commerce giant Amazon in a shocking announcement declared that it will be shutting its China online store by July 18. According to the announcement the Amazon.cn will be closed for third-party sellers.

A research firm, iResearch Global had revealed that the Chinese giants Alibaba and JD.com controlled 82% of the Chinese e-commerce market last year. Owing to this, Amazon had a hard time with its local online retail business in China. But this is hardly the end of the road for Amazon in the country. The company is now re-evaluating its strategy for the Asian country but still plans to let its customers shop at the international versions of the site.

In a statement, Amazon said that they have been working on evolving their Chinese online retail business to “increasingly emphasize cross-border sales.” They say that there is a huge demand for high-quality goods from around the world in China and Amazon is well-positioned to serve them.

Amazon is also present in the country through its cloud computing offerings. But the company yet again faces tough competition as Alibaba Cloud is a dominant force in the country. Conversely, it’s interesting to see that the Alibaba struggles in Amazon’s home turf, the U.S., too.

MAGAZINES