🚀 Amazon open to Chinese Sellers

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Amazon is launching a new section for low-priced fashion and lifestyle items, allowing Chinese sellers to ship directly to U.S. consumers. This move, announced at a conference for Chinese sellers, targets competition from Temu and Shein. The storefront will offer unbranded items under $20, like clothes, arm weights, and phone cases, with delivery times of nine to 11 days. This model enables sellers to save costs and test new products with small-batch production. To support this, Amazon opened an innovation center in Shenzhen and reduced fees for clothing under $20. In 2023, items sold by Chinese sellers grew over 20%, and merchants with sales over $10 million increased by 30%.

2. Home prices are cooling off, though they remain higher than last year. Recent reports indicate price gains are shrinking, with sellers becoming more flexible after a stagnant spring market. For the first time since the pandemic began, the typical home sold for slightly below its asking price—0.3% lower—during the four weeks ending June 23, according to Redfin. Despite this, nearly two-thirds of homes still sold over asking price, the lowest share since June 2020. Mortgage rates remain high, hovering above 7% for three months. The S&P Case-Shiller index showed a 6.3% annual price increase in April, while May continued the trend. Inventory is up 35% year-over-year, though still down over 30% from pre-pandemic levels. Expectations vary, with some buyers seeking deals and some sellers expecting top dollar.

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4. Headlines

   1. Walgreens stock falls after cutting guidance due to the state of the US economy.

   2. JPMorgan Chase claims that the Fed made a mistake with its stress test and the bank actually has higher losses than the Fed estimated.

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