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First day 2021 is upon us, and while Amazon has some of the best deals on the web, they’re not alone when it comes to big sales. Favorite fashion brand Michael Kors has announced a Summer Flash Sale for two days only, which includes an additional 20% discount on items already on sale. But this sale is more than a flash in the pan, because you have a full 48 hours to get the best shoes, handbags, clothing, accessories and more at vastly discounted prices.
Get expert buying advice delivered to your phone. Register for SMS alerts business hunting nerds at Reviewed.
We’ve all been guilty of it, buying something online that isn’t quite right, neglecting to return it and leaving it in the back of the closet until our annual dump – where it inevitably ends up in a bin. of dubious “recycling” somewhere. Or worse, in a landfill. In fact, a study conducted by the environmental NGO Redress in 2020 “found that two in five Hong Kongers only keep their clothes for a year or less and that 30% throw unwanted clothes in the trash.” Further, he found that nearly a third of the clothes in Hong Kongers’ wardrobes are ‘never’ or ‘rarely worn’, and that purchases are often made on impulse, attracted by discounts and offers. limited time. Reliable? Yeah, so do we.
So what can we do about it? How can we put more effort into buying sustainably and getting the most out of our clothes? There are many sustainable fashion brands on the market that are making waves in the industry: Net-a-Porter’s Net hold, corresponds to fashion Responsible fashion edit, Farfetch’s Postively FARFETCH, Selfridge Earth Project. Responsible source materials and organized modifications crop up regularly, however, it is the circular mode brands that grab our attention as we aim to reduce the amount of waste in the textile world.
We’ve rounded up five circular fashion brands (that ship to Hong Kong!) Listing the best second-hand designer clothes and accessories for less. All for the most part new or unworn, pre-loved luxury is right at your fingertips. Add to Cart, and save the planet – win-win!
Circular fashion brands to note:
The recent launch of its second retail space and very first shop on Hollywood Road in the center, HULA remains a leader in the sustainable fashion space. Founded by Sarah Fung, the pre-loved luxury retail platform has formed a tight-knit community where its members can drop off unwanted items, discover designer pieces for less, and feel good about their purchases.
Using AI technology to authenticate the best designer brands, fashion enthusiasts can buy designers like Chanel, Celine, Christian Dior, Gucci, Louis Vuitton and Isabel Marant up to 95% off the trade of detail. A minimum of five percent of net profits are also donated to HULA’s local and international partner charities such as Liberty Asia, Food Angel, Habitat for Humanity, Redress and Maggie’s Cancer Caring Center.
HULA, GF, 56-58 Hollywood Road, Central, Hong Kong, +852 2455 1211
Establishment of a permanent store in the Sham Shui Po district of Hong Kong, Straighten not only invites you to make a donation unwanted clothing, but works to extend its lifespan by reselling through circular fashion sites, like Vestiaire Collective. Prefer to shop in person? You are also welcome to visit their physical store, The Redress Closet, which continues to offer high quality clothing, shoes and accessories for women and men at affordable prices.
Launched as part of a larger campaign to align consumers, industries and government to measurably reduce the amount of fashion waste, Redress ”Trade-in program‘, partners with some of the world’s biggest fashion brands to make it easier for the public to be part of a circular fashion economy. This includes 34 used clothing collection points across Hong Kong, where all donated clothing is then sorted and redistributed, benefiting more than 20 charitable partners as well as Redress’s own stores.
Circular fashion doesn’t stop at clothing for women and men; children can also participate in sustainable action. “An innovative luxury resale e-commerce platform allowing parents to purchase children’s designer clothes at a fraction of their retail price” Retykle is the first of its kind in Asia in children’s clothing.
Shop for high-quality second-hand items, from newborn to 14 years old, as well as maternity clothes and lifestyle items such as nursery furniture, strollers, toys and games. Baby got too big for that cute Burberry onesie (which you just had to get!)? Retykle will collect the items directly from you and resell them in exchange for store credit or cash.
Circular Fashion Game Veterans, Vestiaire Collective is “the premier online marketplace for buying and selling authenticated second-hand luxury clothing”. Offering luxury and premium items up to 70% off the retail price, buy select items or sell them to their global fashion community. Not just clothing, Vestiaire also offers a range of bags, jewelry, vintage and lifestyle products from a plethora of notable brands and designers. With an express delivery option to get started, filter by region and get products to your doorstep in record time.
At the forefront of sustainable fashion in Hong Kong since 2019, ChadiLuxury offers a huge range of pre-loved luxury clothing, shoes, bags and accessories. Specializing in vintage and rare products, the company established itself in Geneva, Switzerland, continuing to bring its Swiss expertise “to not only certify the quality and authenticity of each product, but also to assess the highest prices. fair to all of our customers, whether they buy or sell.
After a year stuck in one place, people all over the world are looking to change their life situation. For some people, that means swapping the city for the suburbs, getting closer to family, or just getting bigger. Others, however, are looking to make bigger changes, like moving abroad. No matter which camp you find yourself on, it is not a decision that should be taken lightly. This is where research comes in. Fortunately, The Economist Intelligence Unit (EIU) has done the hard job of compiling a list of the nicest cities in the world.
The EIU examined 140 cities and analyzed more than 30 factors in five categories: stability, healthcare, culture and environment, education and infrastructure.
The list is compiled every year, but given that the data for this survey was collected from February 22 to March 21, 2021, this year looks markedly different from previous years, giving us a good idea of how the pandemic of COVID-19 has affected the quality of life around the world.
This year Auckland, New Zealand took first place, the last time it came to number 8 in 2017. Meanwhile, Vienna, Austria, which has won two years in a row from 2018, didn’t even reach the top 10.
While Australia may not have reached the top spot, it has won more top 10 spots than any other country on the list. Adelaide, Perth, Melbourne, and Brisbane were all on EIU’s list, suggesting the land below is a pretty nice place to live right now. New Zealand, Japan and Switzerland are tied with two cities each in the top 10.
Check out the full list below:
Auckland, New Zealand
Wellington, New Zealand
The pandemic played a major role in the ranking, according to EIU research. According to the results, the overall average habitability score fell seven points from pre-pandemic rankings. Six of the top 10 countries on the EIU list reacted quickly to the COVID-19 pandemic, closed borders and put containment measures in place. As a result, citizens were able to return to normalcy relatively quickly and safely. Countries that weren’t as quick or efficient in responding, like the United States and Europe, fell in the rankings.
The blocks also had a huge effect on the standings. Auckland closed its borders early and was able to keep public places like restaurants, theaters and more open throughout the pandemic. Schools also did not have to close, which led to a 100% education score for the country in EIU research. Wellington benefited from those same factors, dropping from No.15 on the list in previous years to No.4 this year.
If you’re already crunching the numbers and stressing the cost of living in one of these cities, check out this list of the most affordable places to live by the sea. If you’re not quite ready to cross the road. pond, here is a list of the happiest cities in America.
The company reported total income of Rs 239.19 crore during the period ended March 31, 2021, compared to Rs 228.31 crore during the period ended March 31, 2020.
The company posted net profit / (loss) of Rs. 3.87 crore for the period ended March 31, 2021 compared to net profit / (loss) of Rs. (23.77) crore for the period ended March 31 March 2020.
The company reported EPS of Rs 0.60 for the period ended March 31, 2021, compared to Rs 3.71 for the period ended March 31, 2020.
₹ 239.19 crs
₹ 228.31 crs
₹ 3.87 cents
Financial results (fiscal year ended fiscal year 20-21) – Year-on-year comparison
The company reported total income of Rs. 684.52 crore during the 12 month period ended March 31, 2021 compared to Rs. 1169.80 crore during the 12 month period ended March 31, 2020.
The company posted net profit / (loss) of Rs. (56.38) crore for the 12 month period ended March 31, 2021 compared to net profit / (loss) of Rs. 69.41 crore for the period 12-month period ended March 31, 2020.
The company reported EPS of Rs. (8.85) for the 12-month period ended March 31, 2021 compared to Rs. 10.84 for the 12-month period ended March 31, 2020.
₹ 684.52 crs
₹ 1169.80 crs
₹ 69.41 crs
Shares of TCNS Clothing Co. Ltd were last trading on BSE at Rs.596 from the previous close of Rs. 635.7. The total number of shares traded during the day was 73,955 in more than 5,316 trades.
The stock hit an intraday high of Rs. 649.95 and an intraday low of 590. Net turnover during the day was Rs. 46,139,102.
Sportswear Market Size and Forecast 2021-2028 by Verified Market Research specializes in market strategy, market direction, expert opinions and in-depth knowledge of the global market. The report is a combination of critical information including the competitive landscape; global, regional and country-specific market size; Market participants; Market growth analysis; Market share; Analysis of opportunities, recent developments and growth in segmentation. The report also provides other information and thoughtful facts such as historical data, sales, revenue and global Sportswear market share, product scope, market overview, opportunities, driving force and market share of Sportswear. market risks. The report separates the market size, market status and forecast by segments and end applications / companies.
One of the important factors that make this report interesting is its comprehensive overview of the industry’s competitive landscape. The report includes analyzes of upstream raw materials and downstream needs. The most well-known players in the market are examined. The report provides a detailed overview of observed market trends and key areas with growth potential. The study forecasts the growth in market size, market share, demand, trends and gross sales of Sportswear. The major players are examined on the basis of their information such as affiliates, downstream buyers, upstream suppliers, market position, history and major competitors based on sales as well as business contact details.
The main companies presented in this report are:
• Adidas AG • Nike • Puma SE • Under protection • Ralph Lauren Company • Umbro Ltd. • Fila • Incorporation of Lululemon Athletica • New Balance sports shoe • Columbia Sportswear Company.
In addition, the report studies the market value, volume trends and price development. It then covers sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future prospects in the Clothing market. sport. Market studies naturally predict that this sector of the industry will follow modest revenues until the end of the projected term.
Segmentation of the sportswear market
Global Sportswear Market By End User
• Children • Men • Women
Global Sportswear Market by Distribution Channel
• E-commerce, • Supermarket / hypermarket • Brand points of sale • Discount stores
Scope of Sportswear Market Report
Market size available for years
2021 – 2028
Reference year considered
2015 – 2020
2021 – 2028
Revenue in millions of USD and CAGR from 2021 to 2028
Types, applications, end users, etc.
Cover of the report
Revenue forecast, company ranking, competitive landscape, growth factors and trends
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Scope of customization
Free customization of the report (equivalent to up to 8 working days for analysts) with purchase. Add or change the scope of country, region and segment.
Price and purchase options
Take advantage of personalized shopping options to meet your exact research needs. Explore purchasing options
Know the trends influencing the performance of the industry
Stakeholders, marketers and business owners who plan to view a market research report can use this research to design their offerings and understand how competitors attract their potential customers and manage their supply and sales channels. distribution. When tracking trends, researchers have made a conscious effort to analyze and interpret consumer behavior. In addition, research helps product owners understand changes in culture, target market, and brands so that they can more effectively capture the attention of potential customers.
Geographic segment covered in the report:
• North America (United States and Canada) • Europe (UK, Germany, France and rest of Europe) • Asia-Pacific (China, Japan, India and the rest of the Asia-Pacific region) • Latin America (Brazil, Mexico and the rest of Latin America) • Middle East and Africa (GCC and rest of Middle East and Africa)
Visualize the Sportswear Market Using Verified Market Intelligence: –
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Reasons to buy:
Understand the demand for sportswear to determine the viability of the market.
Identify the developed and emerging markets where sportswear services are offered.
Identify problem areas and identify them.
Develop strategies based on drivers, trends and highlights for each of the segments.
Evaluate the value chain to determine the flow of work and to get an idea of where you are currently placed.
Recognize the main competitors in this market and react accordingly.
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Define competitive positioning by comparing products and services with the main market players.
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After a difficult pandemic year when Signet Jewelers
GIS ‘sales were down 14.8%, the recovery of the company began in earnest in the second half of the year. Fourth-quarter sales grew 1.5% – and 5.1% in North America where the company generates more than 90% of its revenue.
The company’s recovery continues at a steady pace, with revenue reaching $ 1.7 billion in the first quarter of 2022, up 18% from fiscal 2020 before Covid. Crediting the strong Valentine’s Day and Mother’s Day sales and the extensive digital capabilities introduced through its Connected Commerce initiative, as part of its Inspiring Brilliance transformation plan, CEO Virginia Drosos announced she was raising her forecast with year-end sales reaching $ 6.5 to $ 6.65 billion, up from $ 6 to $ 6.14 billion previously.
“We have had strong performances across our portfolio. As the jewelry category experiences significant growth, we are overtaking market growth and gaining market share in line with our Inspiring Brilliance strategy, ”she said in a statement.
The success of the Inspiring Brilliance plan is key to expanding Signet’s penetration into the mid-range jewelry market. Signet’s flagship brands, Kay and Zales, are right in the middle of the mid-market jewelry market and together generate some 60% of Signet’s revenue. Considering the challenges faced by many mid-market retail brands, this is a great demand.
Part of the middle market expansion plan is to push the boundaries of the upper and lower ranges that define the middle market. Jared receives the call at the top and Piercing Pagoda at the bottom.
Representing 18% of sales in 2021 and around 200 stores, Jared is positioned for the “accessible luxury” consumer and offers the premium brands Le Vian, Royal Asscher and Pnina Tornai. In the first quarter, the most expensive items at $ 3,000 and over were its fastest growing category.
And in line with its luxury positioning, Jared has developed its personalization offers, by installing a Foundry studio in 50 locations to design a custom piece on site. By the end of the year, it will expand the foundry to 30 additional stores.
Piercing Pagoda, operating in kiosks in shopping malls as well as online, generated 6% of the company’s revenue last year. Besides piercing services, it also specializes in gold, silver and diamond fashion jewelry.
Drosos foresees significant opportunities for the Piercing Pagoda brand with its first quarter revenue improving every quarter of its history, including even the fourth quarters.
With locations designed for efficiency, it now has more than 135 stores on track to achieve million dollar sales this year. Acknowledging that Piercing Pagoda’s name does not exactly reflect the modernity of its product or service offering, it is testing new store formats and launching a brand refresh that will include the opening of 200 additional locations over the course of the year. fiscal year 2022.
Kay and Zales share the space in the middle of the middle market. Fierce competitors before Signet’s acquisition of Zales in 2014, these two brands have largely worked against the grain until recently.
With Kay accounting for 38% of revenue and Zales 22%, it is essential for Signet to make the most of these two brands to achieve its goal of capturing 10% of the jewelry retail market share, or $ 9 billion, compared to 6% currently.
Differentiating these two brands in a unique way is key. “Historically, we haven’t done a great job of differentiating these banners,” Drosos acknowledges. “Even when Zales became part of our portfolio, we still let them compete too much, running a big promotion at Kay one week and the next at Zales.”
With Drosos’ previous experience managing competing shampoo brands for Proctor and Gamble, she applied the brand portfolio strategy she learned to the Kay and Zales challenge.
“We started with a blank sheet of paper and gathered data on differences in attitude, demographics and pricing to develop our banner value proposition. It’s a job that we finished about a year ago, ”she explains.
The analysis focused on the two main reasons consumers buy jewelry. One is the gift, especially the romantic gift, including the bride, and the other is the personal purchase. Research has found that these two buying motivations are roughly equal in the jewelry category.
And it became the lever to differentiate the Kay and Zales brands. Kay primarily targets the ‘generous sentimental’, a romantically motivated gift shopper, and Zales targets the ‘bold statement maker’, the self-shopper who expresses himself and his style through jewelry.
The differentiation is now reflected in all touch points of the brands.
“More and more, we offer separate merchandise, different pieces and different brands,” Drosos explains, noting that Kay and Zales present Disney collections but with two very different expressions of Disney. Kay presents a Disney Treasures collection of Disney characters, like Mickey, Minnie and Winnie the Pooh, with sentimental appeal and Zales presents the avant-garde Enchanted Disney collection inspired by Disney princesses.
And while both brands are leading mall retailers, Signet follows different real estate strategies to ensure each is in the optimal location. Today, only around 40% of Kay stores are located in malls that also have a Zales store.
In addition, about half of Kay stores are located outside of traditional malls, including locations in malls and malls and lifestyle centers. Zales also goes beyond malls, with around 25% of stores located outside malls. Each brand’s shopping malls are also selected based on the target buyer they attract. Therefore, for Zales, it is the more fashion-oriented malls and Kay that attract more male shoppers.
The differentiation strategy is also found in the online presentation of each brand. Zales’s website has more influencer content and style quizzes to guide self-buyers. Kay delves into gift giving occasions with Father’s Day now receiving the sentimental treatment.
“This is how we run larger companies in these two banners with a well-defined target customer base,” explains Drosos. And she is proud to announce that the differentiation strategy is paying off. Kay and Zales both saw double-digit growth in the first quarter compared to two years ago, before Covid.
This is a marked difference from before the implementation of the strategy. Previously if one mark was up the other was down and vice versa. Now both are enjoying strong sales growth with a higher average transaction value and an influx of new, younger customers.
“When we combine our product knowledge as a jeweler and our customer knowledge as a retailer, along with the scale of our data-driven operations, we win, especially in our larger companies,” concludes Drosos, noting that approximately 60% of the first quarter sales growth at Kay and Zales came from new customers.
She credits having the right products targeting the right customers in the right places a proven formula for retail success.
The american revolution made his Keeneland debut in October in a race that threw stacks of later winners, most notably day winner Mandaloun, who will likely receive the Kentucky Derby in the near future once the disqualification from Medina Spirit is officially confirmed.
Not only did Americanrevolution run really well in fourth, but it did so in a catchy fashion after slowly going far and green at the start of the race. His performance also deserves to be improved a bit, as he played a barging match with Mandaloun in the straight before staying well.
A stable stint from Rodolphe Brisset to Todd Pletcher has also taken place since those early days, and while Brisset himself is a perfectly capable coach, a move to Pletcher’s barn must be seen as a positive. Lasix first time is the icing on the cake for a selection that seems overpriced at 7/2.
# 3 Sea Dreamer, 1pt to 7/2 (min 11/4) – Santa Anita R10, 02:02
Tonight’s second pick is in the early hours of the morning but might be worth the wait (although I’ll be watching on video the next morning!).
Simon Callaghan newbies tend to improve for experience, although his good guys are more than able to win first, and Sea dreamer may well be above average.
The $ 250,000 daughter of the best American stallion Into Mischief, Sea Dreamer worked in style for this debut album, including with 3rd year ranked Paige Anne.
While it’s always worth treating workouts with a pinch of salt, the Selection seemed to travel better than Paige Anne over 5f earlier this month, and if she can produce what she shows. in the morning, it will prove to be hard to beat from the start.
“The luxury pen market is growing at a 1.5% CAGR during the forecast period 2020-2026. The growing interest of individuals in this industry is the main reason for the expansion of this market ”.
The luxury pen is a premium product that has special properties and can be customized according to the customer’s wishes. It can be of different styles and colors. The luxury pen has a special gold and silver case with a lifetime warranty and a warranty against mechanical failure.
Rising disposable income, standard of living and brand awareness are the factors driving the growth of the global luxury writing instruments market. Technological changes and the invention of new things can also contribute to the growth of the global market. People’s interest in the branded product to improve their reputation can also contribute to the growth factor of the global market.
Luxury pen market research is an intelligence report with meticulous efforts undertaken to study accurate and valuable information. The data that has been examined is done taking into account both the best existing players and the future competitors. The business strategies of major players and new industries entering the market are studied in detail. A well explained SWOT analysis, revenue share and contact details are shared in this report analysis.
Elmo & Montegrappa, Josef Lamy, Newell Brands, Montblanc International, T. Cross Company, Franklin-Christop, Aurora, ST Dupont, Grayson Tighe, Groupe Pelikan
This report provides a detailed and analytical overview of the various companies striving for high market share in the global Luxury Pens Market. Data is provided for the best performing and most dynamic segments. This report implements a balanced mix of primary and secondary research methodologies for analysis. Markets are ranked according to key criteria. To this end, the report includes a section dedicated to the company profile. This report will help you identify your needs, uncover problem areas, uncover better opportunities, and support all major leadership processes in your organization. You can ensure the performance of your public relations efforts and track client objections to stay ahead of the game and limit losses.
The report provides information on the following pointers:
Market penetration: Comprehensive information about the product portfolios of the major players in the Luxury Pen market.
Product Development / Innovation: Detailed information on upcoming technologies, R&D activities and product launches in the market.
Competitive assessment: In-depth assessment of market strategies, geographic and business segments of key market players.
Market development: Comprehensive information on emerging markets. This report analyzes the market for various segments across geographies.
Market diversification: Comprehensive information about new products, untapped geographies, recent developments, and investments in the Luxury Pen market.
The cost analysis of the global Luxury Pen market has been done keeping in view the manufacturing expense, cost of labor and raw materials, along with their market concentration rate, suppliers and price trends. Other factors such as supply chain, downstream buyers, and sourcing strategy were assessed to provide a complete and in-depth view of the market. Buyers of the report will also be exposed to a market positioning study with factors like target customer, branding, and pricing taken into account.
Global Luxury Pen Market Segmentation:
Market segmentation by type:
Roller ball pens
Fine Liner Pens
Market Segmentation By Application:
Reasons to buy this report:
It offers an analysis of the evolution of the competitive scenario.
To make informed decisions in companies, it offers analytical data with strategic planning methodologies.
It offers a seven-year assessment of the luxury pen market.
It helps to understand the main key product segments.
Researchers shed light on market dynamics such as drivers, restraints, trends, and opportunities.
It offers regional analysis of the Luxury Pen market along with business profiles of several stakeholders.
It offers massive data on the trending factors that will influence the advancement of the luxury pens market.
Global Luxury Pen Market Research Report 2020
Chapter 1 Luxury Pen Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Analysis of Manufacturing Costs
Chapter 9 Industry Chain, Sourcing Strategy and Downstream Buyers
A worker assembles a box for delivery to the Amazon fulfillment center in Baltimore, Maryland, the United States, April 30, 2019.
Clodagh Kilcoyne | Reuters
Amazon sellers who were hoping for an easier Prime Day after the chaos caused by the 2020 pandemic should not take a break this year.
The company’s two-day discount windfall begins Monday. It comes as the retail industry grapples with pervasive supply chain issues that make it more difficult to stock stores and distribution centers and meet consumer demand.
Several cascading problems hit businesses at once. The global supply chain is still feeling the ripple effects of the Covid-19 pandemic, which has forced many factories to temporarily close amid worsening virus outbreaks. Supply chains have been further disrupted by shortages of shipping containers and air cargo capacity, as well as materials like semiconductors and plastics. Labor shortages have caused significant backlogs throughout the system.
A Covid-19 outbreak in southern China’s Guangdong Province has exacerbated the problem. Local authorities have introduced restrictions, such as limits on the entry of ships, to limit the spread of the virus. This means that one of the busiest ports in the world, the Yantian International Container Terminal in Shenzen, has reduced its available capacity.
Small and medium-sized Amazon sellers who import their products from China are on the alert due to the global shipping problem. Many companies have stocked as much inventory as possible months before Prime Day.
“I haven’t seen anything like it”
Isaac Larian, the toy maker behind the famous Bratz doll brand, said his company MGA Entertainment is in good shape for Prime Day as it started planning several months ago. This planning has likely paid off, as Larian said he is now examining hundreds of freight containers docked at Yantian shipping ports, while shipments en route to the United States take weeks longer than expected to happen.
“In 42 years in this business, I have seen a lot of challenges, but I haven’t seen anything like it,” Larian said.
These problems add “an increase in time and cost” to the global supply chain, said Jonathan Gold, vice president of supply chain and customs policy for the National Retail Federation, a trade group.
Of the 16,000 and more of the NRFmembers, more than two-thirds of members said they were forced to add two to three weeks to their supply chains, NRF written in a recent letter to President Joe Biden calling for action on port challenges. All NRF members reported to the group that their costs had increased due to the disruption.
“It’s not just an industry that’s affected as a result,” Gold said. “Everyone is hurt because of this.”
As consumer demand remains high and inventory supply is limited, items may run out more quickly than in the past. Freightos Freight Market surveyed 177 small and medium-sized businesses that sell on Amazon and found that just over 75% of them continue to experience supply chain disruptions. Almost half of those polled said they expected stock shortages on premium day due to freight delays.
“People can plan Prime Day months in advance, but most salespeople… don’t have the money to do inventory three months before,” said Freightos CEO Zvi Schreiber. “They have to pay for inventory, then they have to pay for storage and they all work with thin margins. Now with shipping costs, they work with even thinner margins. So if you have margins. thinner and you have no spare cash, you can’t just fill a warehouse three months in advance. “
Millions of small and medium businesses sell their products on Amazon’s third-party marketplace. The segment now accounts for more than half of Amazon’s e-commerce sales and has enabled it to generate record revenue.
An Amazon spokesperson told CNBC in a statement that Prime Day 2021 will have more deals than last year, with more than a million deals from small and medium businesses around the world, indicating that the Vendor participation remains high in the event.
Additionally, over 2.5 million consumers used a pre-Prime Day promotion to purchase products from small businesses within the first 24 hours after the deal went live. Amazon did not share the number of merchants who participated in the promotion.
“We continue to innovate and develop Prime Day to ensure our Prime members and business partners find incredible value,” said the spokesperson.
Bernie Thompson’s affairs take him on all sides. His electronics company, Plugable Technologies, has been hit by the shortage of shipping containers, as well as the continued shortage of chips due to increased demand for electronics.
To make matters worse, Thompson estimates that around $ 60,000 in Plugable’s cargo remains stranded on the Ever Given, a massive container ship that was stuck in the Suez Canal for six days in March, blocking traffic in the one of the busiest waterways in the world.
As a result, Plugable had to “severely limit” its participation in this year’s Prime Day, Thompson said. One of his best products, typically selected by Amazon as a Prime Day deal in the UK, is currently blocked on Ever Given.
“We are about to be out of stock on this product on Amazon UK,” said Thompson. “There is no way for us to have a Prime Day deal in the UK. Our goods are on Ever Given.”
Participation in Prime Day
Thompson is confident Prime Day will still attract many brands and sellers, but turnout could be “significantly down” from last year as companies may not be confident they have enough products in stock to close. transactions.
Passing Prime Day can mean missing a wave of sales. While the company does not split revenue from the event, Amazon reportedly grossed $ 10.4 billion globally on last year’s Prime Day in mid-October, according to 360 digital commerce.
Launched in 2015, Prime Day is in part designed to attract more Prime subscribers, to promote Amazon’s products and services, and to drive sales during a normally slower buying period.
It can also give a significant boost to the activities of third-party sellers. In 2020, Amazon said Prime Day sales from third-party sellers were $ 3.5 billion and growing faster year-over-year than its own first-party retail business.
Rick Watson, CEO of e-commerce consulting firm RMW Commerce Consulting, said all of his clients, which span furniture, fashion, home, and food and beverage categories, are experiencing disruption in business. supply chain but still plan to participate in Day One.
Watson said big sellers could benefit more during this year’s Prime Day, as they are better positioned to ensure the best placement of ads, such as “Lightning Deals,” which are limited-time offers that appear often. prominently on the Amazon homepage. These ad placements are usually secured months in advance and require sellers to provide Amazon with inventory levels of the promoted product, he added.
“If you want to get certain ads, they want to know what inventory is behind it,” Watson said. “This could benefit the big sellers this Prime Day, as they are more likely to have the financial flexibility to make these commitments this year.”
Some sellers are already increasingly nervous about having enough merchandise in stock for the holiday shopping season, a crucial selling time of the year. Retailers typically start planning and ordering their inventory in the spring so that it arrives in the fall.
Thompson said the global chip shortage means some of its suppliers expect delivery times of up to a year, which means it’s a bottleneck that could last for several quarters or even next year.
“Prime Day is only about a week away, but I’m not thinking about Prime Day right now,” Thompson said. “I am thinking of Christmas and I am thinking of the beginning of next year.”