financetom
Business
financetom
/
Business
/
Amazon to launch discount section with direct shipping from China, the Information reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Amazon to launch discount section with direct shipping from China, the Information reports
Jun 26, 2024 11:39 AM

(Reuters) -Amazon.com plans to launch a section on its shopping site featuring cheap items that ship directly to overseas consumers from warehouses in China, the Information reported on Wednesday, citing slides shown to Chinese sellers.

The new marketplace, Amazon's ( AMZN ) most aggressive response to the growth of bargain sites like Temu and Shein, will offer unbranded fashion, home goods and daily necessities, according to the slides, and the products will be delivered between 9 to 11 days to customers, the report said.

The e-commerce giant in a recent closed-door meeting told Chinese sellers it would start signing up merchants this summer and begin accepting inventory in the fall, according to the Information.

Sellers joining the bargain site can determine their product selection and pricing, and can produce in small batches to test the demand for any new products they plan to launch, the report added.

"We are always exploring new ways to work with our selling partners to delight our customers with more selection, lower prices, and greater convenience," an Amazon ( AMZN ) spokesperson told Reuters when contacted for comment on the report.

It is not clear if these shipments will be made using a U.S. trade provision that exempts individual packages worth less than $800 from U.S. customs duties, Information reported.

E-commerce powerhouse Shein, which is trying to expand its market share before going public, and PDD Group-owned e-retailer Temu, depend on the expedited clearance process, which is available for direct-to-consumer shipments valued at $800 or less.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Applovin Insider Sold Shares Worth $977,282, According to a Recent SEC Filing
Applovin Insider Sold Shares Worth $977,282, According to a Recent SEC Filing
Dec 2, 2024
05:18 PM EST, 12/02/2024 (MT Newswires) -- Dawson Alyssa Harvey, Director, on November 27, 2024, sold 3,000 shares in Applovin ( APP ) for $977,282. Following the Form 4 filing with the SEC, Harvey has control over a total of 7,359 shares of the company, with 7,359 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1751008/000156218024008060/xslF345X05/primarydocument.xml ...
Post Holdings Insider Sold Shares Worth $3,475,066, According to a Recent SEC Filing
Post Holdings Insider Sold Shares Worth $3,475,066, According to a Recent SEC Filing
Dec 2, 2024
05:17 PM EST, 12/02/2024 (MT Newswires) -- Jeff A Zadoks, Executive Vice President & COO, on November 27, 2024, sold 28,969 shares in Post Holdings ( POST ) for $3,475,066. Following the Form 4 filing with the SEC, Zadoks has control over a total of 135,933 shares of the company, with 67,788 shares held directly and 68,145 controlled indirectly. SEC...
Dominion Energy Chief Operating Officer Diane Leopold to Retire
Dominion Energy Chief Operating Officer Diane Leopold to Retire
Dec 2, 2024
05:20 PM EST, 12/02/2024 (MT Newswires) -- Dominion Energy ( D ) said late Monday that Chief Operating Officer Diane Leopold will retire on June 1. Ed Baine, currently president of Energy Virginia, will become president of Operations and Dominion Energy Virginia, while Eric Carr, currently chief nuclear officer, will become chief nuclear officer and president of Operations and Contracted...
Newmont Insider Bought Shares Worth $400,335, According to a Recent SEC Filing
Newmont Insider Bought Shares Worth $400,335, According to a Recent SEC Filing
Dec 2, 2024
05:17 PM EST, 12/02/2024 (MT Newswires) -- Harry M. Conger IV, Director, on November 27, 2024, executed a purchase for 9,498 shares in Newmont ( NEM ) for $400,335. Following the Form 4 filing with the SEC, Conger has control over a total of 18,050 shares of the company, with 3,552 shares held directly and 14,498 controlled indirectly. SEC Filing:...
Copyright 2023-2026 - www.financetom.com All Rights Reserved