Amazon's plan to tackle Temu, Shein? Sell more toothpaste [Yahoo! Finance Canada]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance Canada
Arriana McLymore and Ananya Mariam Rajesh 3 min read In This Article By Arriana McLymore and Ananya Mariam Rajesh (Reuters) - Amazon's push to offer more everyday essentials like toothpaste is hurting its average selling prices, but it is also a guard against rivals such as Temu and Shein who offer rock bottom prices on goods they ship from China. People are shopping more frequently at Amazon, adding more low-priced items with each checkout, Amazon said on Thursday, after it reported third-quarter revenue and profit that beat Wall Street expectations. The e-commerce giant has seen its market share erode in apparel as Shein and Temu quickly expanded in international markets with $12 dresses and $10 gadgets. But offering a variety of everyday products like dish detergent and floss is helping Amazon. "The strength in everyday essentials revenue is a positive indicator that customers are turning to us for more of their daily needs," said Amazon's Chief Financial Officer Bri
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