Here's your summary from Amazon Plans Discount Web Store to Counter China's Temu, Shein (https://www.youtube.com/watch?v=hF1LiCRfWcA) on the Bloomberg Television channel:
**TLDR:** Amazon is planning to launch a discount web store to compete with Chinese e-commerce giants Temu and Shein by cutting out intermediaries and offering cheaper prices.
1. Temu and Shein's success is attributed to their direct-to-consumer approach, cutting out middlemen and offering cheaper prices.
2. Amazon is following suit by trialing a similar approach on their website, open to invited sellers only.
3. Amazon is aware of the threat posed by Temu and Shein, as seen by their recent fee cuts for merchants selling clothes priced below $20.
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