Late last month, sports equipment company Under Armour announced it was cutting ties with some 2,000 retailers over the next two years. In doing so, Under Armour would focus on building up its direct-to-consumer business. Promo Marketing reported a more than 50% growth in Under Armour’s e-commerce business during the third quarter, with a 17% increase in direct-to-consumer sales.
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The Philippine economy contracted at 11.5% in the 3rd quarter. The previous Philippine quarter GDP declined by 16.9% and was the worst quarter recorded in Philippine history (two negative quarters of GDP is the definition of a recession). Having two quarters of double digit declines is unheard of, and puts the Philippines in one of the world’s most severe recessions. The third quarter double-digit decline was much more severe than what the market projected and more severe than regional peers. The 3rd quarter decline of 11.5% was significantly deeper than the median estimates of 9.6%.
New research from Barclays suggests that the average length of British supply chains has doubled since the pandemic hit, and retailers and wholesalers in the country do not expect them to return to normal until at least March 2021. The report, “Chain reaction: Retail and wholesale supply chains adapt to a climate of change,” was picked up by the Scottish Business Insider.
Southeast Asia’s largest economy has been affected by Covid 19, causing Indonesia’s first recession in over 20 years. The last reported GDP declined 3.49% for the quarter ended September. This is the second GDP showdown in a row, with a 5.32% contraction in the previous three months. The definition of a recession is two consecutive quarters of negative growth.
Necessity is often the mother of investment. The Great Lockdown, itself made necessary by the coronavirus pandemic, has caused the disruption of many sectors of the economy, a tidal wave of business closings, and even the collapse of entire industries. However, as is often the case in economic downturns, it’s not all bad news.
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The Harvard economist Dani Rodrik has written that a country’s economic development is virtually synonymous with its ability to produce manufactured goods for export. As countries adopt this export model it allows, for example, companies in Nigeria to compete internationally and gradually raise productivity through investment in capital and skills: “Industrialising has been a key escalator that has enabled rapid growth.”
Have you ever noticed what Starbucks does when they get your ‘order’ wrong – they either make it right that minute or offer you a free beverage the next time you visit.It is pounded into our heads several times that ‘customer is the king’. To Quote the Chief Design officer at PepsiCo” “Brands are no longer what we say about ourselves, but what our customers say about us.”
On Wednesday, the U.S. Census Bureau released a preliminary report on data pertaining to wholesale inventory for the month of September. Wholesale inventory in the United States was shown to have decreased by 0.1% in September. This is compared to a 0.3% increase in August, which itself was revised from 0.4%.
The World Bank is forecasting an “anemic” economic outlook for Pakistan, with an expected growth rate of only 0.5% in the current fiscal year. “Given anemic growth projections in the near term, poverty is expected to worsen with government estimates of pandemic job losses at 14 million, as poverty is expected to increase for the first time in two decades.”
Earlier this week, Reuters reported that Japanese wholesale prices fell by 0.8% in September, marking the seventh consecutive month of year-on-year declines. Prices also declined by 0.2% as compared to August, the first on-month decline in Japan in four months. Their data was courtesy of the Bank of Japan (BOJ).
India’s GDP has just dropped by a whopping 24% in the last quarter, one of the biggest drops globally. The core reason for this significant decline was that India had one of the strictest COVID 19 economic lockdowns in the world.
This greatly and negatively affected the livelihoods of millions of Indians. So what can Indians do to repair their economy and increase lost incomes for their millions of citizens? A study has shown almost all countries need to grow and establish new Global Value Chains (GVC). Almost nothing has been proven better to raise incomes and reduce poverty, while requiring very little government involvement or costs.
Many industries and sectors across the global economy have greatly suffered as a result of the coronavirus pandemic and the associated recession caused by the Great Lockdown. Demand for some goods and services has simply collapsed, while in other areas, the means of distributing them to retailers or consumers has been severed or greatly disrupted.
Indonesia is the largest economy in Southeast Asia, both in terms of population (267 million people) and economic size with a GDP of $1.12 Trillion.
Can this archipelago’s future economic growth match demographic youthful transition for the next few years with an average age of their citizens at 30.5 years? Studies have shown and Indonesia needs to expand their global value chain, as it has been proven to raise incomes and reduce poverty.
The coronavirus pandemic, and the associated Great Lockdown designed to contain it, have wreaked havoc on the global economy throughout 2020. The global wholesale market is no exception. Forecasters believe this typically robust market will experience an industry-wide decline over the course of the year.
Shop The Globe is a fast growing online wholesale option and we believe that if you’re a buyer or seller you need to start reviewing these very unique options for products. This is truly a better global wholesale platform.
Shop The Globe is already providing unique options on a truly global platform with interests from the countries of Vanuatu, Australia, Thailand and of course many here in America.
RangeMe is a service that specializes in helping connect wholesalers to buyers. They offer their services with two different perspectives: sServices for the buyers, and services for the wholesalers.
Buyers are of course offered accounts for free. It’s a great way to browse products and find connections to new providers you may not have had dealings with before, all at your fingertips. The wholesaler side of the business is a bit darker though.
My experience in business is that almost every company not only wants but really needs more sales. Companies want to expand sales and to do it with limited or no out of pocket costs. Due to the retail Internet migration and COVID-19 we are seeing a massive change in the wholesale market and one of the biggest changes is that there are almost no traditional trade shows. You must also know that the traditional trade shows might not come back!
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We are seeing a massive migration to the internet for our business needs. This has been one of the largest business migrations the world has ever seen, but many small manufacturing companies have not even updated their websites in years, not to mention expanded and leveraged a more efficient online capability.
Is it now time for small manufacturing to enter the world markets?
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SEO is a term for the enhancement of the search engine, maximizing (optimizing) the online position on the Website. SEO focuses primarily on improvements to search engine rankings such as Google and BING on the Website.
As you find success in your online business, it becomes quite normal to use your sensitive information like username, passwords, credit card details, etc., over the internet. But with this achievement in virtual trade, cybercriminals are also becoming more potent by finding new ways to attack the users or the websites to acquire their data. So security protocols such as SSL and TLSwere introduced to keep the sites and the clients safe from these scams.
The internet and business landscape are changing at rates not seen before. With this incredible change occurring right in front of us, why hasn’t the online wholesale industry adapted and become more efficient? Instead, there seems to be very little change and increased efficiency over many years.
For example: We believe each wholesale company today should have their own global storefront.
Social media, in the recent era, has become the most influential technology. Billions of people around the globe, use different platforms of social media. However, most of the people use social media to kill their time. Only a small percentage use social media to make money, and you may be one of them. Yes, that’s true.
Is the global free markets wholesale business the most inefficient market in the world?
With the exposition of the internet and online retail business, has the wholesale market kept up with its peers?
Not only has the wholesale market not kept up, but the industry’s failure to keep pace with Amazon is a key reason why Amazon has been so successful and the wholesale industry has done very poorly. Amazon reached out to the Chinese wholesale industry directly with many seminars in China, and Amazon even started their own shipping business to move goods from China to the US and then directly into their prime marketplace.
As a wholesaler, you can increase sales and global awareness if you know how to find the right platform.
There are three basic ways to sell your product:
- Sell directly to customers via your website.
- Sell to retail stores, which then sell to customers.
- Post at a wholesale distributor, which sells to retail stores.
In our small business we are involved with all three, but I would like to introduce you to wholesaling online, a newer global concept.
Buying wholesale online products and selling them at retail prices can be the foundation of a solid and vibrant business. The concept is very simple: find an outstanding product, one that hopefully is unique to your business, purchased at a low price. Then sell it at a higher price, and repeat.
Are you a merchant in a country or far away location and want to greatly improve your presence in the online wholesale world? If you believe your products should be shown in many online stores around the globe, it might be easy to solve this issue. Review Shop The Globe to improve and lower your cost while improving your access and ease of use.
Before the COVID-19 Pandemic, there was seen a very modest growth rate and sales in the electronic media market. It was witnessed globally that the transactions were rising due to the quarantine. But after the pandemic quarantine was slowed down, the global electronics industry faced a dual impact on its sales online shopping in pandemic.
The problem with today’s internet is that the world’s wholesalers and distributors are still using their 1900’s model; there has been little if any significant change, even though we have seen incredibly robust change in the world that has created a new retail online category. Manufacturing also has seen gigantic leaps with micro companies. These companies are involved with the creative design and development of new products, but they hire out all their manufacturing. They have seen strong growth popping up all over the world.
Marketing refers to the process of developing connections between customers and brands worldwide. It assists businesses and organisations to convince people into buying your products and services. Marketing has been evolving since centuries. Rapid evolution of marketing appears to the universe in the form of digital marketing.
One of the first ideas to consider before you open an online wholesale website is to better understand how the wholesale supplier system works, and better yet a system that can work for your online store.
The issue with online store shoppers:
Most wholesale systems are spotty at best; it’s an eclectic collection of very random unhelpful “register first” websites. Many are in the US but most are sprinkled everywhere in the world. Most of these sites are OK, many are great, but quite a few just waste your time with a long registration process and fees.
The Philippines and Manila are some of the hardest hit economies due to COVID-19. Now the Filipino unemployment is forecast to be 22.5%, up from only 4.5% before the global epidemic. When an economy falls in the range of 91-92%, it is very unlikely it will have a sharp quick recovery. This Wuhan Virus caused the first recession in the Philippines in 29 years, with second quarter gross domestic product showing a decline in almost every single element of the economy.
Businesses to business, or B2B companies, do require an all-around thought out and innovative marketing strategy. When you first consider B2B marketing systems, your brain may go directly to the immediate and outbound procedure. You might think about sending messages directly to forthcoming customers (your generated lead). It might work out that way sometimes; however, it’s not generally the ideal approach to get new customers. Hire services from a reliable digital marketing company.