7 Figure Seller Summit

The 80/20 of Ecommerce – June 18, 2021

Covid outbreaks in Chinese ports could cause global goods shortages 

There is a “Perfect Storm” brewing that is wreaking havoc on small business owners importing products from China.

According to The Guardian “an outbreak of Covid-19 in southern China has combined with the rapid reopening of the world economy and a shortage of shipping containers to cause a surge in transport costs that could fuel inflation and cause shortages of goods across the globe.” 

A number of ports in Guangdong province have been affected including Yantian, Shekou, and Nanshan as vessels are facing limitations in bookings and entering ports without prior reservations.  

It makes sense now to check with your forwarder and supplier if you have an upcoming shipment shipping from south China.  

Yantian Port in Shenzhen after a Covid outbreak in Guangdong. Photograph: Martin Pollard/Reuters

When Will Amazon Dethrone Walmart as the Revenue King?

Walmart has held the top spot again in revenue generation among publicly traded companies for about 20 years. The company generated about $560 billion in annual sales in fiscal 2021. The pandemic gave a huge boost to Walmart sales which nearly grew over 7% over the past year. 

While Amazon climbed through the ranks and reached the unofficial 2nd spot last year. But even though Amazon’s sales of $386 billion were well behind Walmart’s total, Amazon is growing much faster and could overcome Walmart’s sales sooner than we might think.

According to NASDAQ “Walmart has been in launch mode recently, particularly focused on its e-commerce initiative Walmart+, the company’s new consumer subscription program to challenge Amazon Prime. But Walmart’s digital sales only grew 37% in fiscal 2022’s first quarter (ended April 30), which doesn’t quite keep pace with Amazon’s sales growth over the same time period.”

To compare, if Walmart’s latest revenue total stays flat for the next year and grows 3% in fiscal 2023 (which effectively represents calendar 2022 sales), it would take in about $577 billion. That means even at the projected lows, Amazon should become the largest U.S. company by revenue by the end of 2022.

Here are some things you may have missed from last week:

Have a great weekend!

Gary

About the Author sevenfiguresel

Meet Gary Huang, the creator of the AI for Amazon Sellers 28 Day Challenge and the founder of the 7 Figure Seller Summit. Gary's journey in the ecommerce world began in 2005, when he launched his first private label brand selling women’s shoes on eBay. Since then, he has steadily grown a portfolio of ecommerce brands on platforms like Amazon and Shopify, serving customers in marketplaces across the globe.

But Gary's experience isn't limited to just ecommerce. With a decade of corporate experience under his belt, he has managed supply chains in Shanghai, China, overseeing multimillion-dollar sourcing campaigns. This broad range of knowledge has provided him with a unique perspective on the ecommerce industry, which he now shares with others through his various initiatives.

He is a highly regarded figure in the ecommerce space, with his strategic insights and innovative approaches widely recognized in prominent media outlets including Forbes, NPR, and Bloomberg.

Recently Gary’s fascination with AI came from a simple observation: AI was changing everything, everywhere, all at once. This impact is affecting everything from education, politics, the arts, to ecommerce businesses.

This led him to spend hundreds of hours testing AI applications in his own business and interviewing other successful Amazon sellers and ecommerce experts at the AI and ChatGPT Summit for Amazon sellers.

His aim was to find out how AI could be used to grow ecommerce businesses, save time, and increase profitability. The insights he gained have played a crucial role in shaping the AI for Amazon Sellers 28 Day Challenge.

Outside of his own ventures, Gary has shared his expertise on platforms like the Helium 10 podcast, Jungle Scout's Million Dollar Case Study, Webretailer.com, and the Global Sources Summit. His understanding of global trade was even acknowledged when he served as the Chair of the American Chamber of Commerce in Shanghai's Supply Chain Committee, briefing White House Congressional officials on US-China trade and supply chain strategies.

Despite a career that has taken him around the world, from his native Los Angeles to Shanghai and now Japan, Gary remains down-to-earth, focusing on his role as a husband and father. His experiences, both personal and professional, inform his approach to business and the advice he shares through the 28 Day Challenge.

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