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Amazon to keep low-price strategy in China
(Agencies)
Updated: 2004-10-20 10:25 Global online retailer giant Amazon.com said the
company will keep on its low-price strategy in China's market.
"Amazon.com once has not got any profit in seven years, thus we are not in a
rush to get payoff in China." Diego Piacentini, senior vice president for
worldwide retail and marketing of Amazon Co., told reporter of Beijing Morning
Post lately.
Amazon.com offers a discount price and may lose money on the first sale, but
this way they gain more customers who will purchase products later.
Amazon.com has bought Joyo.com, China's biggest Web retailer at a price of
US$75 million.
The price competition of Chinese online stores has not yet stopped in the
last few months.
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