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Amazon will launch a dedicated section on its shopping site that resembles the Chinese bargain site Temu.<\/p>\n
According to The Information<\/a>, the marketplace will feature items shipped to overseas consumers from warehouses in China.<\/p>\n It will include unbranded fashion, home goods, and daily necessities, with the publisher citing slides that it claims have already been shown to sellers in China.<\/p>\n If correct, this will be Amazon\u2019s most aggressive response<\/a> yet to the boom of cheap marketplaces like Shein, Temu, and AliExpress. And unlike the next-day delivery that the multinational company has become known for, the products will instead take between 9 to 11 days to reach customers.<\/p>\n In a recent closed-door meeting, as reported by the publisher, the e-commerce giant told sellers it would start signing up merchants this summer and will accept inventory from the fall.<\/p>\n The merchants would determine their product selection and pricing, with testing of demand for new products to be done so through producing small batches.<\/p>\n The inner workings of the potential new approach to cheap items aren\u2019t yet known,\u00a0 it\u2019s not clear if the shipments will be made using a U.S. trade provision that exempts individual packages worth less than $800 from U.S. customs duties.<\/p>\n Amazon hasn\u2019t yet confirmed nor denied the report, but a spokesperson did respond to Reuters request for a comment: \u201cWe are always exploring new ways to work with our selling partners to delight our customers with more selection, lower prices, and greater convenience.\u201d<\/p>\n On June 26, the company joined the $2 trillion market cap club<\/a> as its shares increased to an all-time high of $193.61.<\/p>\n The American business now sits amongst the likes of Microsoft, Apple, Nvidia, and Alphabet who had previously reached this benchmark.<\/p>\n This came at a time when Amazon had its most profitable quarter ever as well, with operating income soaring over 200% to $15.3 billion.<\/p>\n Featured Image: Via Ideogram<\/a><\/strong><\/em><\/p>\n<\/p><\/div>\nAmazon\u2019s value soars to over $2tn<\/b><\/h2>\n