Amazon.com Inc will open a store on Chinese e-commerce platform Pinduoduo on Mon...
It said at the time it would increase its focus on selling goods from abroad to Chinese buyers via its global platform. It also has a Kindle store on Tmall.
Alibaba and JD.com have traditionally dominated China’s e-commerce market but that status quo was recently disrupted by four-year-old Pinduoduo, which is popular with China’s lower-tier city residents.A spokesman for Pinduoduo declined to comment. Amazon did not immediately respond to a request for comment.
Pinduoduo, which woos customers with deep discounts and group buying deals, suffered an $11 billion slump in value last week after it posted a much wider-than-expected quarterly loss that stemmed from its efforts to fight its rivals with heavy subsidies.
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