Is Amazon Closing Down Their China E-commerce Offering?

By John Heerdink LinkedIn Disclaimer
Amazon recently announced that it will close down its online e-commerce operations in China by July 18 due to low profits and stagnant growth. The move came in after the e-commerce giant faced severe competition from China’s rooted e-commerce sites like Tmall (Alibaba Group Holding’s) and JD.com. However, Amazon will move forward with investing in China through Global Store, Global Selling, Kindle e-readers, online content while Amazon Web Services will remain in operation.
As per reports spokeswoman said in a statement “We are working closely with our sellers to ensure a smooth transition and to continue to deliver the best customer experience possible.”
Shoppers in China still willing to buy from Amazon can shop from Amazon Global Selling store, as per reports. Ker Zheng, marketing specialist at Shenzhen-based e-commerce consultancy Azoya stated “there’s no reason for a consumer to pick Amazon because they’re not going to be able to ship things as fast as Tmall or JD,” obviously unless somebody is looking for a special imported product. Amazon (AMZN) Inc., is an American multinational technology company based in Seattle, Washington that deals in e-commerce, cloud computing, and artificial intelligence.  Currently, Amazon founded by Jeff Bezos in 1994 is the largest cloud computing & e-commerce marketplace on the planet when measured on the basis of revenue and market capitalization. Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Join us at Vista Partners! It’s FREE to receive email updates. week3 (16)

Amazon, facing entrenched rivals, says to shut China online store

SAN FRANCISCO/BEIJING/HONG KONG (Reuters) – Amazon.com Inc said it will shut its China online store by July 18, as the U.S. e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world’s most populous nation. The move underscores how entrenched,.. finance.yahoo.com
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