Amazon plans to launch discount store in bid to fend off Temu and Shein

- Amazon is launching a new section for low-priced fashion and lifestyle items on its site - Chinese sellers will be able to ship directly to U.S. consumers through Amazon - Amazon is aiming to compete with e-commerce upstarts Temu and Shein - Amazon's storefront will feature unbranded items priced under $20 - Products will be shipped directly from China to the U.S. - Amazon looking to reduce costs for sellers in China and allow testing of new items - Plan is to start accepting products this fall - Amazon's marketplace has seen an increase in Chinese sellers and merchants - Amazon trying to maintain growth despite growing competition - Amazon plans to launch a new section on its site dedicated to low-priced fashion and lifestyle items - This will allow Chinese sellers to ship directly to U.S. consumers - The new storefront will feature unbranded items under $20 and ship directly from China to the U.S. in 9-11 days - Amazon aims to fend off competition from Chinese e-commerce sites Temu and Shein - The company is focusing on cost savings for sellers in China and may start accepting products this fall - Amazon has seen growth in the number of Chinese sellers on its site and is making efforts to court more sellers from China in the face of increasing competition

🚨 Reddit sentiment: mixed/negative - While there are users who see the logic behind Amazon's strategy to compete with Temu and Shein, the majority of comments express skepticism, confusion, and overall negativity towards Amazon and its perceived saturation with low-quality products. Summarized comments: - Some users believe Amazon is already oversaturated with inexpensive, low-quality products - There's confusion about how Amazon's discount store will differ from its current offerings - Users find humor in comparing Amazon's new strategy to existing platforms like Shein and Temu - A sentiment of regret is noted for not having implemented this strategy earlier - Skepticism towards Amazon's ability to compete if they stop innovating - AliExpress is mentioned as a cheaper source for similar goods found on Amazon, justifying Amazon's new strategy - Negative opinions about Amazon as a company - Some users express satisfaction at the potential downfall of Amazon Stock tickers discussed: $AMZN