Amazon launched a new discount marketplace Wednesday promoting "crazy low prices" that competes with Temu, Shein and TikTok Shop. Why it matters: Price-sensitive consumers have been "trading down" to cheaper goods to save money while retailers have been promoting store brands.

Amazon’s new low-priced marketplace is a likely attempt to compete with retailers like Shein and Temu, which the company reportedly views as a growing threat.

If you can’t see the Haul tab on your Amazon app, first try updating the app on the store. Then, look up “Haul” in the app search bar. If that doesn’t work, visit Haul on your desktop and scan the QR code with your phone.