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).
The report states that the slump appears to be caused “mostly by soft global demand for commodities and Japanese machinery goods,” and could push Japan back in to deflation.
More trouble appears on the horizon in the Land of the Rising Sun, as fears of a second wave of COVID-19 may weigh down consumption. The pain of the pandemic has been felt worldwide, and the globe’s third-largest economy is no exception.
Wholesalers, retailers, and consumers alike have been impacted by a new and increasing set of challenges: getting their products to those who demand them, finding new markets and consumers for those products, and cutting the costs in all aspects of operation.
The good news is that necessity, of course, is often the mother of invention. Meet Shop The Globe, a new global online wholesale marketplace. Shop The Globe offers a wide variety of products on a global storefront from around the world— Canada to Turkey to Vanuatu. Shop The Globe also operates in over 100 major languages— including Japanese— and offers the Yen, along with a wide variety of currencies. More of each are on the way.
Shop The Globe also helps wholesalers cut costs in these tough times by eliminating the costly and often redundant middlemen. This allows Shop The Globe to charge sellers only 12% of what they sell. Sellers can post listings and news publications on Shop The Globe at no upfront, out-of-pocket cost. With minimal setup time, wholesalers are better able to get up and running on Shop The Globe quickly.
Shop the Globe is owned by a global news company, Communal News, and is part of a network of sites which have demonstrated quick growth. It is our third site, along with Freelance Global Gigs. All three have established a global platform at no or very low cost to our venders.
Anyone can read our targeted articles on Communal News, Google News, or Facebook News. Communal News also provides, news, business, sports, and analysis, with a keen eye on the markets. Communal News offers daily, up-to-date- reports and forecasts on a wide variety of products and services, markets and industries. For more information about our sites, click here.
Even in normal times, business either innovates or vegetates. With the pandemic stagnating (or crippling) domestic demand, many wholesalers will have to go global to meet new consumers. A new and innovative way to do that is through Shop The Globe. Give it a try today! Shop the Globe’s Global Wholesale Vendor Registration is free.