12:12 PM EDT, 03/22/2024 (MT Newswires) -- (Updates with Amazon's ( AMZN ) comment in fifth and sixth paragraphs)

Amazon.com ( AMZN ) is shifting its focus from Walmart ( WMT ) and Target ( TGT ) as competitive threats toward emerging e-commerce rivals Temu and Shein, the Wall Street Journal reported late Thursday, citing sources with knowledge of the matter.

The retail giant is prioritizing customer trust and fast delivery to maintain its edge, particularly by expanding same-day delivery options and emphasizing reliability and speed in promotions, the sources reportedly told WSJ.

Amazon ( AMZN ) executives reportedly closely monitored Temu's Super Bowl ads campaign, the sources added.

Amazon's ( AMZN ) competitive advantage is its fast package delivery across various product categories, an Amazon ( AMZN ) spokesperson reportedly told WSJ, adding that this service remains a top priority for the company.

An Amazon ( AMZN ) spokesperson told MT Newswires its priority is customer satisfaction with its services, while keeping an eye on all of its rivals.

"Although Amazon ( AMZN ) pays attention to competitors, we obsess over customers," the spokesperson said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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