The end of the year promotional season, Black Friday shopping spree should bring unlimited business opportunities, but this year, many cross-border merchants have felt an unprecedented chill. According to a number of merchants reflected that this year's Black Friday orders were cut to the bone, becoming the most dismal one in history.
Amazon, Sell-through, TikTok Shop, Temu, SHEIN and other major platforms have launched promotional activities, the longest Black Friday activity cycle in history also failed to save the market downturn. Merchants complained that this year's Black Friday period not only a sharp drop in the number of orders, but also a significant drop in profits, making people feel the pressure.
It is reported that Amazon's Black Friday activities in the U.S. and European regions will be from November 17 to November 27, and the cycle of Speedway's activities will be from November 20 to November 29.The TikTok Shop activities began on October 27 and lasted until November 30th. In addition, Temu, a subsidiary of Poundland, started its pre-launch period on 20 October, while the SHEIN USA campaign started on 13 November and ended on 27 November. Despite the fact that all major platforms have invested huge efforts and resources to promote the Black Friday event, the results have not been satisfactory.
The reasons for this situation are manifold. Firstly, the downward trend of the global economy is obvious, and consumers' purchasing power has declined, leading to a lack of demand. Secondly, the competition among major platforms is fierce, with increasing promotions, and the profits of merchants are constantly compressed. In addition, the impact of the epidemic on the global supply chain and logistics is also continuing to ferment, resulting in rising operating costs for merchants, making it difficult to maintain the original price advantage.
In the face of the worst Black Friday in history, cross-border merchants have expressed the need to adjust their strategies and seek new breakthrough points. Some merchants said they will increase investment in social media and short video platforms to attract more consumers through live streaming and other forms. At the same time, some merchants said they will pay more attention to product quality and brand building, to enhance consumer awareness and trust in products.
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