Less from China, more from India?
China is considered the world’s factory and is in fact still the biggest exporter in the world. However, because of rising costs and the political tensions between the US and Beijing, more importers are looking for other countries to source their products from.
Walmart is reportedly making a slow shift from importing from China to India. In 2018, about 80% of its shipments came from China. However, in the same period in 2023, the number is down to just 60%.
The retail giant did this to diversify its supply chain and reduce costs. But it has invested in the country for years, and even acquired Banglore-based Flipkart in 2018.
In mid-November, an Amazon official said that the company is targeting $20 billion in imports from India by 2025.
We’ve been covering the topic of importing from India for quite some time now. We even had a podcast episode about it in 2019.
In fact, just this October, we had a sellers’ summit about sourcing products from India. EcomCrew’s Mike Jackness even delivered a talk during the event about the most important lessons he learned from 10 years in e-commerce. You can view the video here.
Amazon Top Terms
Dive into the preceding two weeks and explore the Amazon top 10 search terms that have experienced a surge in popularity from November 12 to November 25—the week of Black Friday.
In the latest Amazon top 10, a mix of keywords is flying off the digital shelves, capitalizing on Black Friday discounts. Securing the #10 spot is “tv black Friday deals 2023,” with sales jumping from 59 units per day to a solid 108 units per day.
As Black Friday wraps up, it's the perfect time to gear up for the coming year. Dive into our podcast episode about Amazon PPC – Everything You Need To Do for 2024 and stay ahead of the game!
Going Public!
Fast fashion giant Shein is reported to have confidentially filed to go public in the United States. The Singapore-based, Chinese-founded company had a $66 billion valuation last May, but the amount may increase to as much as $90 billion at IPO.
At this stage, Shein is working on the necessary changes in their filing with the help of underwriters Goldman Sachs, JPMorgan Chase and Morgan Stanley. It’s also still unclear if it obtained the necessary clearance from the China Securities Regulatory Commission.
Shein has reportedly been attempting to list publicly in the US as early as 2020, but the plan was delayed because of geopolitical tensions at the time. Today, one of the problems it has to face is the forced labor issues surrounding the organization.
Etc.
Letting go. Jeff Bezos is reportedly selling an additional 8 to 10 million Amazon shares. It will cost about $1 billion.
Perfect pair. Temu got its big break by purchasing ad units in the Super Bowl. We’re not surprised they’re going for a comeback.
Q. Amazon announced its most recent AI development that will help businesses with tasks like planning workshops, summarizing reports, and drafting emails.
