Amazon is launching a new budget storefront aimed at competing with discount retailers like Temu and Shein. The initiative features strict price caps, such as $8 for jewelry and $20 for sofas, to attract cost-conscious shoppers. Products will be shipped from Guangdong, China, with lower fulfillment fees to entice sellers. This move comes amid slowing sales growth, with a 5% increase in Q2. As Amazon adjusts to market changes, it also plans to end its same-day delivery service in January 2025.