Alibaba kicked off its 11.11 Global Shopping Festival on November 11 at midnight in China, and, in the first minute and eight seconds, gross merchandise volume (GMV) settled through the Alipay service reached $1 billion. In the festival’s first hour, Alipay GMV reached $12 billion.
Imports at the nation’s major retail container ports are expected to hit their highest level of the year in November just before additional tariffs take effect in December, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates.
The Universal Postal Union, in an Extraordinary Congress, has given the United States the go-ahead to raise postal shipping rates on packages under 4.4 pounds, and end a break that gave international firms a big advantage over domestic companies in moving small-item packages.
The impact of tariffs on consumer purchase decisions will vary from product to product based on whether shoppers view an item as a necessity or a luxury, according to the results of a recent study by The NPD Group.
As it reported second quarter results, Dorel Industries said that it is doing its best to shrug off the effects of tariffs imposed on China by the U.S. as it drives top-line growth and makes adjustments to boost the bottom line.
Importers of Chinese made goods, including many product suppliers in housewares, will be facing a new round of tariffs beginning in September.
Walmart plans to increase its investment in its supply chain logistics in China by about $1.2 billion, building or upgrading more than 10 logistics distribution centers over the next 10 to 20 years.
The topic of tariffs is one that is dominating conversations across the housewares landscape as retailers and suppliers work to develop solutions to deal with looming price increases that are expected to touch nearly every segment in the industry.
President Donald Trump has delayed a new round of tariffs that would have put a 25% surcharge on an additional $300 billion worth of products made in China, which would have included a broad range of housewares.
After a seven-year investigation, Walmart has entered into a global settlement with the United States Department of Justice and Securities and Exchange Commission regarding the company’s compliance with the U.S. Foreign Corrupt Practices Act, the retailer announced.
In spite of higher tariffs on Chinese-made products coming in mid-June, traffic at the nation’s major retail ports is expected to stay strong as retailers look to stock up for the back-to-school and holiday shopping seasons.
With the most recent list of proposed tariffs affecting the housewares industry, the International Housewares Association is encouraging members to contact their congressional representatives or provide comment to the United States Trade Representative (USTR) on the tariffs’ effect on their business.
Following the recent imposition of 25% tariffs on $200 billion worth of products made in China, questions are being raised by some in the housewares industry as to the exact timing of when the surcharge was officially in place.
Several housewares and home goods categories are in the crosshairs of a potential next round of 25% tariffs that could be imposed by the Trump administration on an additional $300 billion in Chinese-made goods. This follows the 25% tariffs that were imposed on $200 billion worth of Chinese-made products that went into effect on Friday, May 10.