Amazon.Com Inc (NASDAQ:AMZN) is 巴拼set to launch a new section on its website dedicated to affordable fashion and lifestyle items, enabling Chinese sellers to ship directly to U.S. consumers.

The storefront marks Amazon s boldest move yet to counter rising competition from e-commerce platforms PDD Holdings Inc (NASDAQ:PDD) Temu and Shein.

Chinese e-commerce stocks, ranging from Alibaba Group Holding (NYSE:BABA) to JD.Com, Inc (NASDAQ:JD) to PDD, are trading lower Thursday.

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Temu and Shein have strong ties to China and have attracted a growing number of American shoppers with their low prices on clothing, electronics, home goods, and more.

Amazon s upcoming storefront will offer a variety of unbranded items, many priced under $20.

In the past, Chinese sellers have used Amazon s Fulfillment by Amazon (FBA) services to send goods to U.S. warehouses before dispatching them to customers, CNBC reports.

In 2023, the number of items sold by Chinese sellers on Amazon s site grew by more than 20% year-over-year.

Price Actions: BABA shares traded lower by 0.98% at $73.44 premarket at the last check on Thursday. JD stock is down 1.27% at $27.16, and PDD is down by 1.44% at $136.24.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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