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Amazon launches an online discount storefront to better compete with Shein and Temu

Economic Times

Economic Times · 10m ago

Amazon launches an online discount storefront to better compete with Shein and Temu

Amazon has launched a new online storefront called Amazon Haul, offering products priced at under $20 to compete with discount retailers. The storefront features mostly products under $10 and offers free delivery on orders over $25. Products are shipped from a warehouse in China and delivery takes one to two weeks. The products available resemble those found on Shein and Temu, popular Chinese e-commerce platforms known for low-cost apparel. The move aims to provide value to customers and Amazon plans to refine and expand the offering in the future. Amazon also announced the shutdown of its ad-supported streaming service Freevee, consolidating content under Prime Video.

Related News

Temu, Shein far lag Amazon as online holiday shopping ramps up

Economic Times

Economic Times · 1y ago

Temu, Shein far lag Amazon as online holiday shopping ramps up

Upstart online retailers Temu and Shein are struggling to convert website visitors into actual sales, lagging behind market leader Amazon. While Shein saw a 7.25% increase in monthly visitors to its website, the percentage of visits resulting in transactions declined. Temu, which launched in the US in 2022, experienced a significant increase in visitors, but only 4.5% of those resulted in purchases. In comparison, Amazon had 56% of its monthly visits resulting in purchases. Shein and Temu are aggressively marketing their platforms, but face tough competition from Amazon's established reputation and customer trust.

Amazon’s new focus: Fending off rivals Temu and Shein

Livemint

Livemint · 1y ago

Amazon’s new focus: Fending off rivals Temu and Shein

Amazon has identified Temu and Shein as major threats to its e-commerce dominance and is closely monitoring their growth. While Amazon believes its logistics and quick delivery remain advantages, Temu and Shein are expanding in the US and targeting Amazon customers. Temu has become the top advertiser on Meta Platforms in 2023, spending billions of dollars on advertisements. While Amazon can leverage its warehouse network and Prime subscribers as a barrier in the US, defending against competition overseas may be more challenging. Customer trust and speed of delivery remain key focuses for Amazon.

Temu Is Burning Cash to Challenge Shein and Amazon on Black Friday

Wired · 1y ago

Temu Is Burning Cash to Challenge Shein and Amazon on Black Friday

Temu, a cut-price ecommerce app owned by Chinese giant PDD Holdings, has gained popularity in the US, attracting customers with heavily discounted prices. However, its rapid growth has come at a cost, with sellers reporting warehouse capacity issues and the company struggling financially. Temu is projected to make a loss of around 30-40% per order and has increased its net loss budget to $3.17 billion for 2023. While Temu has been investing heavily in advertising and promotions to compete with rivals Shein and Amazon, analysts are concerned about its ability to turn a profit with its current spending habits.

Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows

Economic Times

Economic Times · 9m ago

Walmart, Amazon holiday spending rise as Target, Best Buy stumble, data shows

Walmart, Amazon, Shein, and PDD Holding's Temu had a successful Black Friday and Cyber Monday sales period, outperforming retailers like Target and Best Buy. Walmart saw an increase in sales, with top-selling items including pre-owned Rolex watches and singer Sabrina Carpenter's perfumes. Amazon, Walmart, Temu, and Shein experienced growth in sales during this period, while Best Buy struggled. Despite exclusive merchandise partnerships, Target's sales performance was muted. Overall, ecommerce sites performed well during the holiday season, with record-breaking sales recorded by key players.

Low-cost ecommerce rivals Shein and Temu shelve US court cases

Economic Times

Economic Times · 1y ago

Low-cost ecommerce rivals Shein and Temu shelve US court cases

Online low-priced fashion rivals Shein and Temu have filed joint declarations in U.S. courts to end their legal battles with each other. Both companies have been engaged in a global market share battle. The filings did not disclose the reasons for dropping the complaints or if a settlement was reached. Shein had accused Temu of using influencers to make false remarks about the retailer, while Temu alleged that Shein violated U.S. antitrust law. Both companies have disrupted the retail industry with their ultra-fast fashion and low-price shopping models.

Amazon leans into video in emerging Europe's online marketplace fight

Reuters · 1y ago

Amazon leans into video in emerging Europe's online marketplace fight

Amazon and Chinese company Temu are both targeting Poland's online marketplace leader, Allegro, with different strategies. Amazon plans to invest in video streaming, producing more original Polish-language shows for its Prime Video service. They also see growth potential in the Central and Eastern European region as a whole. Meanwhile, Temu has gained market share in Poland through low-cost fashion offerings. Although Allegro holds a strong position due to loyal customers and a wide range of services, Amazon and Temu pose potential threats with their different strategies. Allegro plans to expand to other countries in the region, while Amazon and Temu continue to compete for market share.

Amazon’s newest competitors are stepping into its territory

Livemint

Livemint · 1y ago

Amazon’s newest competitors are stepping into its territory

Fast-fashion company Shein and TikTok's shopping unit are expanding in Amazon's territory, seeking to recruit Amazon employees and set up workspaces in the same office tower in Seattle. Both companies are bolstering their staff and operations in the US logistics and supply-chain industry. Shein, TikTok, and e-commerce company Temu, all with Chinese roots, are investing heavily in the US online shopping market. This move represents a new threat to Amazon, as these companies aim to replicate its success and challenge its dominance.

Temu is trying to win over America. Good luck.

Business Insider

Business Insider · 1y ago

Temu is trying to win over America. Good luck.

Chinese online marketplace Temu is making a big push to conquer America, with a multi-billion dollar advertising campaign during the Super Bowl. Temu's 30-second ad slots, estimated to cost $7 million each, totaled about three minutes of screen time during the game, reaching an audience of over 123 million viewers. The company aims to achieve scale in the West, following the success of rivals Shein and TikTok. Despite facing challenges such as a drop in sales and competition from Shein, Temu continues to invest heavily in marketing to dominate the US market.

Temu, Shein suspend Vietnam operations amid crackdown on ecommerce platforms

Economic Times

Economic Times · 9m ago

Temu, Shein suspend Vietnam operations amid crackdown on ecommerce platforms

Chinese online retailers Temu and Shein have suspended their operations in Vietnam in order to register their ecommerce services with the government. The Vietnamese authorities and domestic businesses were concerned about deep discounting by Chinese platforms and the potential sale of counterfeits. Vietnam demanded that Shein and Temu register by the end of November, or face blocked internet domains and app usage. Temu missed the registration deadline and will have its operations temporarily suspended. Shein's status is unclear, but its Vietnamese website is currently unavailable. The Vietnamese government recently approved legal changes regarding VAT and tax exemptions for foreign ecommerce platforms.

Vietnam says Temu, Shein must register with govt or be blocked in country

Economic Times

Economic Times · 10m ago

Vietnam says Temu, Shein must register with govt or be blocked in country

The Vietnamese government has announced that it will block the internet domains and apps of Chinese online retailers Shein and Temu if they fail to register their operations with the trade ministry by the end of November. There are concerns about the impact of these platforms on local markets due to their steep discounts and the quality of goods they offer. The Ministry of Industry and Trade will take technical measures, such as blocking applications and domains, if the platforms do not comply. Shein has been operating in Vietnam for a while, while Temu recently started serving users in the country.

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