E-commerce

Report: Amazon mulling discount store strategy

Photo: Oleksandr - stock.adobe.com

June 27, 2024

Amazon is reportedly looking to launch an online discount store site in a quest to battle back against Chinese marketplaces such as Temu and Shein.

The omnichannel retail giant held a close door event for Chinese sellers and presented plans for an online store offering low-cost items, according to a CNBC report.

The news comes on the heels of a report indicating Chinese marketplaces are grabbing greater U.S. consumer traction.

"We are always exploring new ways to work with our selling partners to delight our customers with more selection, lower prices, and greater convenience," Amazon spokesperson Maria Boschetti said in a statement to CNBC.