Amazon closes store in China



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Amazon.com will close its online store in China and focus on selling foreign products and cloud services in this country, Reuters reports, citing the US retailer's press service. Now the company notifies its customers that as of July 18, their Amazon.cn market will not work.

The Amazon.cn store, established in 2007 based on the Chinese online store Joyo.com, purchased in 2004, offered opportunities to buy and sell goods in the country. After Amazon.cn closes, Chinese customers will be able to place orders at the retailer's global online store, receiving orders from other countries. Similarly, Chinese sellers will be able to place their products in the global Amazon market. In addition, the US retailer will maintain and develop a business in China selling online content and serving Kindle users. The use of the trading platform within China proved to be unprofitable for Amazon.com, against the background of strong competition from online retailers JD.com and Tmall, owned by Alibaba Group Holdings. According to research firm iResearch Global, these two retailers control 82% of China's e-commerce market.

Alena Miklashevskaya

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