Sellers 'Scrambling for Goods' Ahead of Prime Day, High-Demand Holidays
U.S. retailers cut orders for merchandise by 9% at the pandemic's height, said PingPong Payments Monday, while consumer spending rose 6% year on year in Q2. Demand outstrips supply, and shortages will get worse when the holiday retail season starts…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
next month, said the payments facilitator. With Amazon Prime Day set for October (see 2009210057), merchants “have been left scrambling for goods” for Q4, said Kenny Tsang, PingPong managing director, saying retailers planned too conservatively at the height of spring lockdown when placing holiday orders. Those who wanted goods faced disrupted supply chains, Tsang noted. The sector should be focused on a global e-ecommerce strategy, he said. Cross-border online sales worldwide increased 21% since January, as consumers seek cheaper prices and a broader selection.