Worldwide oil prices dropped roughly two percent on Monday after a comparable fall on Friday, driven by investor disappointment with the Chinese government’s weak economic stimulus plan.
Oil prices slip as investors digest the latest downbeat economic news from China, with extended slumps in retail and real estate.
Hundreds of Chinese merchants who supply products to global discount shopping app Temu stormed the company offices in Guangzhou on Monday, waving protest signs and chanting slogans accusing the company of cheating its suppliers.
Soon after former president Donald Trump survived an assassination attempt at a rally in Pennsylvania, Chinese consumers went wild for T-shirts bearing the now-iconic photo of a bloodied Trump rising up from the stage and raising his fist beneath an American flag.
Black Friday 2023 marked a significant surge in online shopping, with record-breaking sales totaling $9.8 billion in the United States and $70.9 billion globally.
American retail titan Walmart announced Sunday that it will begin importing toys, shoes, and bicycles from Indian firms, as well as increasing its purchases of food and health products.
Top Chinese social media influencer Li Jiaqi, known as the “Lipstick King” because he once managed to sell 15,000 units of lipstick in five minutes flat during a livestream performance, was evidently “disappeared” by the tyrannical Chinese government on Friday after he pointed his webcam at a cake that looked like a tank, one day before the 33rd anniversary of the Tiananmen Square massacre.
A socialist politician has criticised the destruction of traditional stores and the ’19th-century’ working conditions of Amazon.
To offset supply-chain delays, retailers are working hard to quickly get returned items back on shelves for sale, particularly like-new items that were originally purchased online.
Italy’s competition authority announced on Thursday that it has fined Amazon roughly $1.3 billion (€1.129 billion), alleging that the company “has harmed competing operators” by abusing its dominant market position and pushing third-party sellers to use Amazon’s logistics service Fulfillment by Amazon (FBA).
Cyber Monday online sales have reportedly fallen for the first time, dropping 1.4 percent from last year to $10.7 billion, according to data released on Tuesday by Adobe Analytics. The report also indicated that out-of-stock messages on relaters’ websites were up 169 percent when compared with pre-pandemic years.
China’s state-run Global Times posted a glum report on Wednesday about China’s big “Double 11 shopping festival,” which “arrived in a low-profile and conservative manner” without “glamorous galas or eye-popping promotions” this year.
India’s commerce minister, Piyush Goyal, complained this weekend that “arrogant” American e-commerce giants are flouting his country’s laws.
The Disney company announced plans Wednesday to focus on its e-commerce business and close at least 60 stores in North America.
China’s State Administration for Market Regulation (SAMR) released the final version of its new antitrust rules on Sunday, evidently concluding a debate within the Chinese Communist Party (CCP) over how China’s high-flying technology titans should be reined in. The final draft of the rules places heavy new restrictions on firms like Alibaba, but the rules are not as stifling as they could have been.
India’s Ministry of Commerce and Industry issued an order on Tuesday making it mandatory for all sellers to indicate the country of origin for products registered on GeM, the Government e-Marketplace. The order was presented as part of the “Make in India” initiative, but was more bluntly interpreted as “not made in China.”
Amazon reportedly told members of its affiliates program on Tuesday that it will be cutting commission rates beginning on April 21. The “Amazon Associates” affiliate marketing program pays a percentage of sales to publishers that direct consumers to Amazon via links on their website and social media.
A new report shows that e-commerce sites doubled their ad spending between mid-February and the second week of March as social distancing became the norm due to the Wuhan coronavirus pandemic.
E-commerce giant Amazon has reportedly fired a number of employees accused of providing independent sellers with inside company information.
A New York labor union published a report, Wednesday, calling out Amazon’s “deadly and dehumanizing” working conditions and accusing it of working towards “world market domination.”
Democratic lawmakers introduced a bill this week that would crack down on “Grinch Bots,” Internet shopping bots that prevent real consumers from ordering hotly desired items.
In a recorded company meeting, Amazon founder and CEO Jeff Bezos declared, “One day Amazon will fail. Amazon will go bankrupt.”
Shopify announced Monday it had updated its “Acceptable Use Policy” with the result that sites selling commonly owned semiautomatic firearms will be barred from using the e-commerce platform.
Amazon, the online retailing giant founded by Jeff Bezos, is fast approaching capturing 50 percent of the U.S. e-commerce market, according to data research firm eMarketer.