Amazon Out: American E-Commerce Platform to Leave China

By Matthew Bossons, April 18, 2019

0 0

E-commerce giant Amazon is reportedly planning to shutter its China-based marketplace operations in the next 90 days, according to anonymous sources cited in a Reuters report published early this morning.

While the Seattle-based company has yet to release a formal statement on the matter, there is speculation online that an official announcement may come before the end of the week.

According to Reuters, Amazon will focus its efforts on “more lucrative businesses selling overseas goods and cloud services” in China. Kindle e-readers and online content will remain available for purchase in the country.

The report also states that Chinese consumers will be able to buy products from Denmark, Japan, the United States and United Kingdom through the company’s global online marketplace. 

Amazon broke into the Chinese market back in 2004 with the purchase of online book retailer Joyo.com, but the company failed to establish the dominant market position that it enjoys in other nations. Homegrown rivals JD.com and Tmall share an overwhelming 81.9 percent of the Chinese market, according to iResearch Global findings cited by Reuters. Last year, Amazon enjoyed only 0.6 percent of the same pie. 

Back in 2017, Jack Ma’s Alibaba topped Amazon to become the biggest e-commerce company in the world. The Hangzhou-based Chinese company reached a market valuation of USD470 billion and officially surpassed its American competitor to become the world’s largest e-commerce platform. Alibaba first filed for an IPO in the US market in 2014.

READ MORE: Rekindle Your Passion for Reading with These Amazon E-Readers

With files from Bridget O'Donnell.

[Cover image via Unsplash]

more news

6 Hair Removal Products for Summertime Silky Skin

Bikini season is just around the corner.

Win a Wine Voucher When You Review Your thMart Order!

Share your thoughts with us and receive a wine voucher on thMart!

Conquer Your China Market with Our Brand New E-Commerce Platform

Have an awesome product you'd like to sell in China? Let thMart help!

Infographic: China's Top 20 Mobile E-Commerce Sites in 2016

Spoiler alert: Taobao doesn't have a monopoly, but it's not far off.

Hot Pot Toothpaste Is Now a Thing and We Tried It

For the Sichuan hot pot lovers of the world, we’ve found a quirky product that’s sure to leave your mouth scorched.

Shanghai Students at Increased Risk for Myopia and Obesity

The rates of myopia and obesity are on the rise among Shanghai students.

This Chinese Company is the Largest in the World

China holds five of the top 10 spots in Forbes’ Global 2000 list.

Tickets Now on Sale to See Lenka in Shanghai and Beijing

You can now grab tickets to see Lenka perform at Tango in Beijing and VasLive in Shanghai this July 9 and 11.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at Thats_Shanghai for events, guides, giveaways and much more!

7 Days in Shanghai With thatsmags.com

Weekly updates to your email inbox every Wednesday

Subscribe

Download previous issues

Never miss an issue of That's Shanghai!

Visit the archives

Get the App. Your essential China city companion.