China-Singapore Jingwei, November 21 (Chang Tao) One month before Christmas, Deng Long, president of the American Chinese Chamber of Commerce, had an exchange with some member businesses.
He learned that the number of Christmas orders purchased by various merchants from China this year is "relatively bleak", with a general decrease of 20%-30%.
Deng Long said, "On the one hand, it is because everyone has been hoarding goods seriously before, and on the other hand, it has something to do with the lack of consumption motivation in the US market."
Deng Long introduced to Sino-Singapore Jingwei that orders for Christmas products such as Christmas lights, Christmas trees, and Christmas hats are usually placed in July and August in previous years, and the goods arrive in September and October.
However, considering the actual situation of international logistics under the epidemic situation, many merchants began to place orders for Christmas products from March and April this year, resulting in serious stockpiling.
Jiewen (pseudonym), a foreign trade merchant from Hangzhou, also expressed similar views, "Last year (2021) logistics was seriously affected, and many goods could not be delivered in time. The hoarding has led to a decline in purchases this year."
Overseas Buyers' Christmas Purchasing Demands Have Changed
Ming Ming, chief economist of CITIC Securities, believes that in recent years, due to the impact of the epidemic, the stay and transportation time of international logistics ports has been lengthened, and the Christmas export season has been brought forward. Can be considered as China's export season.
According to public data, in terms of US dollars, from January to September 2022, China's total export value has maintained a monthly year-on-year growth rate, and the growth rate in May, June, and July has exceeded double digits.
According to the observations of platform personnel, overall large-order purchases are ahead of schedule, which also makes the Christmas purchase needs of overseas buyers relatively more "temporary" this year.
Li Yiqiang, head of home decoration industry operations at Alibaba International Station, told Sino-Singapore Jingwei that in October and November this year, the number of inquiries and purchases of Christmas-related products has been increasing, and overseas buyers are particularly replenishing.
"The number of active buyers in October increased by nearly 50% year-on-year, among which the Christmas decoration category increased by nearly 60% year-on-year. By November, this data was still rising, and the year-on-year growth in the first week and the second week both exceeded 70%. "Li Yiqiang said that the increase in demand for "temporary" foreign trade orders has also brought new business opportunities for Chinese foreign traders.
On Alibaba International Station, the number of active buyers of Christmas products in October increased by more than 70% from August, and the number of new buyers increased by more than 100% from the previous month.
This Christmas, Europeans and Americans will be "poor"?
In addition to the impact on the order cycle, Deng Long believes that the reduction in Christmas order imports is also closely related to the current domestic situation in the United States.
"Many American technology giants have laid off employees, causing many people to panic and worry about the emergence of a domino effect. Under the pressure of inflation in the United States, the purchasing power and desire to buy of people below the middle class are generally insufficient. These combined factors will inevitably make Christmas consumption in the United States this year relatively bleak. .” Deng Long said.
According to the US Consumer News and Business Channel website, the National Retail Federation predicts that inflation will curb US holiday spending. Matt Shea, CEO of the Federation, said that Americans are still eager to spend this holiday season, but has become more cautious.
In some cases, they tap their savings and pay with a credit card, he said.
A similar situation has emerged in the UK.
According to a recent report from Reuters, Christmas is approaching, the traditional peak season of consumption. The latest survey released by Deloitte shows that 60% of British people think that their Christmas spending this year will be less than last year.
Statistics show that 38% of British people plan to choose cheaper brands or stores when purchasing Christmas gifts, 11% of British consumers plan to buy second-hand goods as Christmas gifts, and 8% do not plan to buy Christmas gifts.
Lin Jianbang, president of the British Chinese Chamber of Commerce and Industry, also told Sino-Singapore Jingwei that with the soaring energy prices and the inflation rate being pushed to the highest point in 40 years, the "crisis" of the cost of living of the British people continues.
At present, the British people can save as much as possible in all aspects of life, and non-essential consumption is decreasing.
Xiong Peng, president of the British Hunan Chamber of Commerce and Trade, told Sino-Singapore Jingwei that at present, in London, the Christmas atmosphere has not been significantly affected on the surface, but for many British people, every family has a ledger, and they are under pressure from rising energy prices. Next, spend money much more cautiously than before.
The latest data show that the U.S. consumer price index (CPI) rose by 7.7% year-on-year in October, and the British consumer price index (CPI) rose by 11.1% year-on-year in October, hitting a new high in 40 years.
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Responsible Editor: Luo Kun