Amazon to close its online store in China after failing to gain a foothold
Amazon is set to close its online in store in China after failing to gain a real foothold in the country where JD.com and Alibaba reign supreme.
The e-commerce giant will shut its operations in China down from 18 July, it announced today.
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Rivals JD.com and Alibaba account for 82 per cent of the Chinese e-commerce market share, according to figures from iResearch Global on last year.
It means Amazon will not be able to operate a marketplace of provide seller services through Amazon.cn, and will now focus on selling overseas goods and cloud services instead.
A spokeswoman said: "We are working closely with our sellers to ensure a smooth transition and to continue to deliver the best customer experience possible.
"Sellers interested in continuing to sell on Amazon outside of China are able to do so through Amazon Global Selling."
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Consumers in China will still be able to make purchases through Amazon's stores in other countries, but if it is something they can get from Alibaba or another seller, there was little point due to slower delivery times.
The US company will continue to invest in the China market with its Global Store, Global Sellinger, Kindle e-readers and other online content, while its Web Services will also remain.