Amazon To Boost Presence In China Via New Store On Pinduoduo
Zacks Investment Research | Nov 26, 2019 05:41AM ET
Amazon (NASDAQ:AMZN) is leaving no stone unturned to bolster presence in the global e-commerce market on the back of strategic moves.
It has always been making efforts to look for ways to strengthen the Chinese business unit in order to make the most of the world’s second-largest economy. The company’s cross-border unit will soon open a pop-up store on the Chinese e-commerce platform, Pinduoduo Inc. (NASDAQ:PDD) .
Pinduoduo is a four-year-old startup that offers customers with deep discounts and group-buying deals, making it China’s No. 3 online retailer after Alibaba Group Holding Ltd. (NYSE:BABA) and JD.com Inc. (NASDAQ:JD) .
The new store is expected to run until the end of December. Reportedly, it will offer a wide variety of about 1,000 products from overseas.
The new move is in line with the company’s strategy offocusingmore on selling goods from abroad to buyers in China.
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