Alibaba Gets Better of Amazon: US Ecommerce Giant Prepares To Shut China App Store Amid Rivalry and Regulatory Headwinds
Portfolio Pulse from Anusuya Lahiri
Amazon plans to close its app store in China on July 17 and discontinue its Kindle e-book service in 2022. The company's shopping site, Amazon.cn, and other services like Amazon Global Selling, Amazon Global Store, and AWS will remain operational. Amazon's Appstore faced competition from local players like Alibaba and JD.com.
May 25, 2023 | 1:05 pm
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Amazon plans to close its app store in China on July 17 and discontinue its Kindle e-book service in 2022, facing competition from local players.
Amazon's decision to close its app store and discontinue its Kindle e-book service in China indicates that the company is struggling to compete with local players like Alibaba and JD.com. This could negatively impact Amazon's growth prospects in the Chinese market, leading to a short-term negative impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Alibaba benefits from Amazon's decision to close its app store in China, as it faces less competition from the US ecommerce giant.
As Amazon closes its app store in China, Alibaba stands to benefit from reduced competition in the Chinese ecommerce market. This could lead to increased market share and growth for Alibaba, resulting in a short-term positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
JD.com benefits from Amazon's decision to close its app store in China, as it faces less competition from the US ecommerce giant.
As Amazon closes its app store in China, JD.com stands to benefit from reduced competition in the Chinese ecommerce market. This could lead to increased market share and growth for JD.com, resulting in a short-term positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80