Why Amazon Marketplace didn't survive in China
Publishing timestamp: 2023-02-02 08:00:01
Summary
Amazon entered the Chinese e-commerce market in 2004, but was unable to compete with local companies Alibaba Group and JD.com. Despite initially having a 15% market share, Amazon's share dropped to less than 1% by 2019 and the company officially closed its China online marketplace in July 2019.
Sentiment: NEGATIVE
Tickers: AMZN, BABA, 9618-HK, BBY, HD, EBAY,
Keywords: jd.com inc, jeff bezos, amazon.com inc, best buy co inc, home depot inc, alibaba group holding ltd, retail industry, business news, ebay inc, jack ma,
Source: https://www.cnbc.com/2023/02/02/why-amazon-china-fell-behind-alibaba-jdcom-and-taobao.html