Amazon will continue to invest in China, as it withdraws e-commerce business
Amazon has said its commitment to China remains strong and it will continue to invest in the market, despite confirming plans to shut its local e-commerce business.
Amazon pledges commitment to China market as it shutters local e-commerce business
The e-commerce giant confirmed it would close its Amazon.cn marketplace on July 18 but would continue to operate other business units including its Kindle store and cross-border sales offering.
“Over the past few years, we have been evolving our China online retail business to increasingly emphasize cross-border sales, and in return, we’ve seen very strong response from Chinese customers,” an Amazon spokesperson told TechCrunch.
“Amazon’s commitment to China remains strong—we have built a solid foundation here in a number of successful businesses and we will continue to invest and grow in China across Amazon Global Store, Global Selling, AWS, Kindle devices and content.”
The decision marks the end of an uphill battle for Amazon which has struggled to take market share from China’s local e-commerce giants Alibaba and JD.com. Recent figures suggest Amazon held just 0.6% share of the market, while Alibaba and JD.com together control 85%.