Amazon teamed up with Korean e-commerce platform 11 Street to launch overseas direct purchases, a large number of OEM factories in Vietnam closed, and Adidas considered raising prices

Amazon and Korean e-commerce platform 11 Street will launch overseas direct purchase service

Amazon and 11Street, an e-commerce platform under SK Telecom, have launched a direct overseas purchase service. Starting from the end of this month, Korean consumers will be able to order tens of millions of Amazon products from the 11Street website, including sports and leisure products, household goods, and tens of millions of books. A company official pointed out: "Except for some products such as large home appliances that may involve tariff issues, customers can purchase most of Amazon's products."

Total U.S. imports to grow 20% in 2021, with major changes in many categories

Jungle Scout released the 2021 US Global Import Report, which analyzes the US's maritime imports and trends in 237 countries and regions and all industries from 2015 to 2021. The report shows that the total import volume of the United States in the first half of 2021 increased by 33% year-on-year. Jungle Scout expects that the total import volume in 2021 will increase by 20% year-on-year - unless it is affected by the unpredictable epidemic.

The report shows that the trade pattern of exports to the United States continues to be dominated by a few countries and industries. In 2021, China continued to lead in trade with the United States, accounting for more than 40% of the import share. Vietnam is the second largest supplier to the United States, accounting for about 6.3% of the US import share; the top three industries accounted for 45% of US imports, namely, electromechanical, miscellaneous (including furniture, toys, artworks, etc.) and textiles. In terms of the types of imports to the United States, imports of electromechanical products are increasing, while imports of wood and textile products are decreasing.

Audi will complete its electrification transformation within the next 12 years and gradually stop producing internal combustion engines

On the 25th local time , the German Audi Group released its new "Vorsprung 2030" strategy, proposing that Audi will complete a comprehensive electrification transformation in the next 12 years. From 2026, all new models launched by Audi worldwide will be pure electric models. By 2033, Audi will gradually stop the production of internal combustion engines.

A large number of OEM factories in Vietnam have closed down, and Adidas is considering raising prices   

It is understood that the COVID-19 situation in Vietnam has worsened recently, which has had a significant impact on the local clothing and footwear manufacturing industry. Strict epidemic prevention measures have forced a large number of Vietnamese foundries to close. The supply chains of many large European and American multinational companies are facing great potential risks, and some brands have said they are considering raising prices. Not long ago, Adidas said that the production capacity of most of its suppliers in Vietnam has been unavailable since mid-July, and it is expected to lose $600 million in sales in the second half of the year.

Another American fast fashion clothing brand will withdraw from the Chinese market

On August 25, the Tmall flagship store of the American clothing chain Urban Outfitters announced that it would close its store. The store will be cleared from August 23 to September 1, and all products will be removed from the shelves and sales will stop on September 12. Customer service will continue to operate until September 24. As of now, the number of fans of the Urban Outfitters Tmall flagship store is about 1.14 million.

According to Urban Outfitters' second quarter performance report for fiscal year 2021 (ending July 31), sales increased 44.08% year-on-year to US$1.158 billion, with net profit of US$127 million.

Urban Outfitters does not have any physical stores in China and does not have an official website in China, so its announcement to close its Tmall flagship store means that it will withdraw from the Chinese market.

Model 3 becomes the first electric car to surpass 1 million in cumulative sales

According to cleantechnica's continuous statistics on dozens of Tesla markets around the world, by the end of the second quarter of 2021, the global delivery volume of Model 3 reached 1,031,588 units, making it the best-selling electric car to date. At the same time, the cumulative delivery volume of Model Y exceeded 250,000 units and is expected to exceed 500,000 units by the end of the year.

Amazon

Korean e-commerce

Vietnam Epidemic

Supply chain dilemma