Industry news

The 6th Global Cross-border E-commerce Festival and the 8th Shenzhen International Cross-border E-commerce Trade Expo will open in Shenzhen on July 31st.

On July 31st-August 2nd, "The 6th Global Cross-border E-commerce Festival 2023 and the 8th Shenzhen International Cross-border E-commerce Trade Expo" will be held in Shenzhen Convention and Exhibition Center (Futian). The theme of this exhibition is "cross-border culture, brand going out to sea and strengthening the country with intelligence". The exhibition scale is nearly 100,000 square meters, bringing together more than 4,000 cross-border e-commerce exhibitors at home and abroad. Brand culture is combined with oriental elements to display, and the resources of industrial belts around the country are integrated, and well-known brands from all over the country gather and new brands emerge suddenly.More than 2000+ high-quality factories and 10000+ products from 50+ industrial belts, such as Changshu garment auto parts industrial belt, Zhongshan lighting industrial belt, Zhejiang Jiaxing garment industrial belt, Hebei pet food industrial belt, Fujian Shishi industrial belt, Cixi small household appliances industrial belt, Ningxia Yanchi industrial belt, Yuedong toy industrial belt, Yiwu industrial belt, Shantou knitted garment industrial belt, Ningbo industrial belt, Yangjiang industrial belt, Anji green industrial belt and Shandong Weihai fishing gear industrial belt, gathered together.

Amazon China Prime Member Day opens, and traffic competition intensifies. Can we break through only at low prices

Some sellers found an activity of "reactivating Prime member advertising activities to get advertising discount coupons" in Amazon backstage. The value of the discount coupon for this activity varies from site to site, up to $250. Sellers participating in the event need to activate a brand promotion activity on Amazon platform before July 17, and let the advertising campaign last for 30 days. After that, the seller will receive an advertising discount coupon distributed by Amazon. This year, price is still the core of driving growth. The price competition between Amazon and other platforms, whether it is the previous 20% discount subsidy or the so-called "Amazon discount plan", shows Amazon's intention to launch subsidy activities.In the environment of economic expansion and consumption degradation, Amazon's efforts to increase discounts are aimed at attracting more consumers and stimulating the growth of orders. In this regard, Zhang Zhouping, director and senior analyst of B2B and Cross-border E-commerce Department of the Network Economic and Social Research Center, said that Prime Member Day is a big promotion festival for Amazon for many years, which is of great significance to Amazon and will bring three major benefits to the company. The first is to increase sales. Membership Day attracts a large number of Prime members and other consumers to participate in shopping, which is an important business opportunity and can greatly increase sales in a short time. The second is to increase the number of Prime members. By providing exclusive offers and promotions, more consumers can be attracted to become Prime members, bringing stable income for future sales and subscription services; The third is to improve the brand image. As a large-scale shopping activity, Prime Member Day can establish a positive brand image in consumers' minds and emphasize their competitive advantages in terms of price, choice and service.This year, Amazon's Prime Member Day sellers reacted differently. Some sellers actively participated in making exclusive discounts for members, and made advertising budgets and price reductions according to the actual situation. Some sellers said that they had "smashed" and watched other sellers explode orders. However, through observation, it is found that many sellers' expectations for Prime Membership Day are decreasing. Apart from the economic impact, the dispersion of traffic is also an important reason. In recent years, with the inflation and rising cost of living, consumers pay more attention to the discount of products during Prime Membership Day, because inflation and interest rates put pressure on consumers' spending.

Traffic competition has intensified and it has been "encircled" by many e-commerce platforms such as Temu.

According to the Adobe Digital Economy Index, during Prime Day in 2022, the total online consumption of American retailers reached $11.9 billion, and the total online revenue increased by 8.5% year-on-year. Therefore, since Amazon announced the promotion date this year, it has been besieged by multi-party e-commerce platforms. First, Target announced that it will hold a sales activity from July 9 to 15, and the price of products with white labels can be up to 50% off; Then, Wal-Mart also scheduled the Walmart+ Membership Week from July 10th to July 13th, and said that all customers can enjoy discounts on the 11th.Recently, Temu, the king of price volume, has also become a member of showstopper. On the previous Independence Day, Temu has started to promote sales, with the slogans of "10% discount on clothes, shoes and kitchen supplies" and "promotion area within one dollar". There are also sellers who compare Temu with products on Amazon's two platforms and find that the price of the same product Temu is far lower than that of Amazon, even as long as it is half that of Amazon.The actions of competitors will undoubtedly bring a certain impact to Amazon. In the face of such a situation, Amazon can't sit still, but should take the initiative to make changes.Zhang Zhouping said, "Since the launch of Amazon Prime member day, it has become a shopping feast for consumers around the world. Faced with this market cake, since Amazon announced the date of promotion this year, it has been "encircled" by e-commerce platforms including Wal-Mart, Target and Temu. For example, Target announced that it will hold a sales activity from July 9 to 15, and the price of products with white labels can be up to 50% off; Wal-Mart will also set the Walmart+ membership week from July 10th to 13th, and all customers can enjoy discounts on the 11th. Pinduoduo Temu has also become a member of showstopper, and has started to promote sales before, and it has an advantage in price. The actions of many competitors will undoubtedly bring some impact to Amazon.