Originally posted in Spendmatters.com
China sent $42.7 billion in exports to the U.S. in October, a 13.3% year-over-year increase, Supply Chain Dive says, citing reports on Chinese customs data. China’s exports had increased at about 13% for September, and many credit the flood of goods to pressure from tariffs. U.S. businesses seem to be stocking up on inventory now before tariffs increase in January, the Dive reports.
Amazon Taking on UPS, FedEx?
Amazon’s pilot shipping program comes with severe discounts, which some see as the online retailer’s intention to take on competitors in the logistics supply chain, CNBC reports. Amazon Shipping is being tested in Los Angeles, where one person said he shipped 600 pounds of boxes with the new service to an Amazon fulfillment center for $80. He said UPS would’ve charged $160, and FedEx $104. A management professor told the news site that this points to Amazon’s broader goal of becoming a “one-stop shop” in the supply chain that covers everything from storage and shipping to last-mile delivery to the customers.
Biggest Shopping Day Not in U.S.
The shopping day that eclipses Black Friday and Cyber Monday is China’s Singles Day, which encourages single people to treat themselves well on 11/11, the news site Quartz reports. The digits in the date are singles, but the shopping day pulled in $25 billion in sales last year, Quartz said. It turns 10 for this year’s event, on Sunday. Alibaba CEO Daniel Zhang, who will take over from Jack Ma as chairman, has said: “Many people ask me how we came up with this idea, and my honest answer is … survival.”
Judge Blocks Keystone Pipeline
And finally, an update on the Keystone XL oil pipeline: A U.S. judge blocked construction of the 1,200-mile pipeline from Canada to the Gulf Coast because not enough environmental impact information was given by the Trump administration, the New York Times reports.