Amazon.com Inc (AMZN), is launching its own low-cost e-commerce service to rival Chinese firms Shein and PDD Holdings’ Temu: Amazon Haul. Haul is now available to some customers in the United States giving them a selection of products at $20 or less, the online retailer said on Wednesday.
The company said that the majority of products will be priced at $10 or under, with some costing as little as $1.The company describes the new Haul service as an “engaging shopping experience that brings lower priced products into one convenient destination.” Purchases on Amazon Haul are delivered in one to two weeks. Additionally, the company charges a $3.99 shipping fee that’s waived for orders larger than $25.
Furthermore, Haul showcased a four-pack of Christmas socks for $6.98, a $3 iPhone case, and a $14 women’s crewneck fleece. The Haul selection, priced at $20 or less, focuses on clothing, home goods, jewelry and electronics.
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Shein, the Singapore-based fast-fashion giant with a $45 billion valuation, and Temu, have had a meteoric rise. They have already left other competitors like H&M, Fashion Nova, Forever 21, and Zara in the back seat. However, Amazon is looking to be the next great rival for both.
AMZN stock shares were up following the news, rising 2.47%.
