Digital Transformation Slows Down the Global Economy
Amazon Faces Rival from Chinese E-Commerce Competitors
By Shubhendra Anand , 22 October, 2024
Amazon continues to be the leader in the European e-commerce sector. It faces rivals from Chinese e-commerce competitors in 2024. The sales of Amazon products in China form a large market. However, Chinese sellers will account for 63 percent of the total third-party sellers on Amazon 2024.
Some Chinese e-commerce competitors like AliExpress, Temu, Shein, and others are shaping their international e-commerce roadways. This indicates that Amazon plans to take massive action in the e-commerce sector globally in 2024. Temu is owned by Pinduoduo, a Chinese company currently making strides in the global e-commerce market. However, its sales benefits are traced from the financial year of 2022. A survey of the e-commerce market shows that Amazon continues to be the e-commerce leader in Europe. Data from this survey indicates that Chinese competitors are in close battle with Amazon. Pinduoduo e-commerce sales in 2024 are at USD 661 billion. However, e-commerce sales from Amazon, including all its business domains, will be at USD 757 billion in 2024. Thus, the gap in the total number of sales is relatively small in these two leading e-commerce companies. Amazon must look into the matter of Chinese ventures into its financial territory.
Another survey shows that Pinduoduo sales growth in 2023 increased by 90 percent to USD 34.9 billion. Pinduoduo achieved this milestone after renaming itself as PDD Holdings. Experts cite that the increase in sales growth was due to online marketing and transactions in 2023. Therefore, Amazon will introduce specific plans in response to growing Chinese e-commerce companies in 2024. Amazon tends to increase its sales and growth by applying particular marketing solutions.
Sales in different domains of Amazon in 2023
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Shubhendra Anand
Head Research
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