The US April CPI rose by 49% year-on-year, lower than market expectations Amazon launched Amazon Anywhere to sell peripheral products | Cross-border e-commerce daily news

US April CPI up 49% YoY, below expectations Amazon launches Amazon Anywhere for peripheral product sales

[U.S. April CPI YoY Increase of 4.9% Lower than Market Expectations] The U.S. April CPI increased 4.9% YoY, the 10th consecutive decline, reaching a new low since April 2021, with an estimated 5.0% and a previous value of 5.0%. The U.S. April CPI increased 0.4% MoM, estimated at 0.4%, with a previous value of 0.1%.

[Amazon Launches Amazon Anywhere to Sell Peripheral Products] On May 10th, Amazon announced that it has started to sell physical goods related to mobile games, such as t-shirts and toys, to mobile game users.

Amazon has launched a new service called Amazon Anywhere for game companies, allowing them to sell game peripherals directly to players through their respective platforms.


North America

[U.S. Average Actual Weekly Earnings YoY Decreased by 1.1% in April] According to data from the U.S. Bureau of Labor Statistics, the actual average weekly earnings in April increased by 0.1% MoM, but decreased by 1.1% YoY. The actual average hourly earnings in April decreased by 0.5% YoY. Actual average weekly earnings decreased by $4.07 YoY to $378.84.

[Amazon Develops Upgraded AI Robot with ChatGPT Functionality] On May 9th, Amazon announced that it is developing an upgraded version of its home robot, Astro. This will be a new stage for Astro and the latest case of Amazon adding artificial intelligence (AI) models to its existing products. The new version of the Astro robot will have ChatGPT-like functionality, including large language models (LLMs) and other advanced AI models, enabling it to better understand what it observes and react more intelligently to things.

Google Cloud CEO announces new AI models for enterprise customers The CEO of Google Cloud stated that customers can choose artificial intelligence models based on cost and the scale of their own business. The company has announced new AI models for enterprise customers.

Three Apple executives have left the company this year According to insiders, Pete Distad, the executive in charge of TV+ and sports businesses, plans to leave the company this month during Apple’s restructuring of its services department that has been driving growth in recent years. Distad was recruited by Apple from streaming platform Hulu in 2013 and is the third high-ranking executive to leave Apple in 2023. In January, Peter Stern, Apple’s vice president of services, announced his departure. He was Distad’s boss. In March, Michael Abbott, vice president of Apple Cloud Engineering, announced plans to leave and join General Motors to develop in-car software.

UPS and Teamsters union begin national contract negotiations The United Parcel Service (UPS) and the Teamsters union have begun national contract negotiations to replace the contract that expires at the end of 2023. Both parties have agreed to postpone the contract originally scheduled to expire in August 2022 until after the negotiations. Key issues in the negotiations include UPS employee compensation, benefits, working hours, retirement plans, safety, and security. In addition, negotiations will also involve issues related to employee safety and health due to COVID and sustained freight peaks in the past year. If the two sides fail to reach an agreement before the contract expires, the union may initiate a strike.

Zipline provides drone delivery service to GNC customers Zipline International announced that it has partnered with health, nutrition, and sports supplement retailer GNC to provide delivery services to GNC customers through its drone delivery service. GNC will use Zipline’s platform 2 drone service to transport customer orders from its distribution center in Pennsylvania to local GNC stores. Zipline stated that this new partnership will enable GNC to meet customer needs faster, reduce waiting times, and improve customer experience.

Zipline announced that the platform has been successfully deployed in some countries in Africa and South America. The collaboration with GNC is Zipline’s first project launched in the United States.

【Disney: Expected restructuring costs to be between $1.5-1.8 billion】 Disney’s CFO stated that the expected cost of the restructuring would be between $1.5-1.8 billion; due to seasonal marketing expenses, the streaming business’s loss in the third quarter of the fiscal year will increase by $100 million compared to the second quarter; the expected capital expenditure for the fiscal year is $5.6 billion, still below the previously estimated $6 billion.

【Beyond Meat’s Q1 net revenue of $92.2 million exceeds expectations】 The plant-based meat company Beyond Meat’s net revenue for the first quarter was $92.2 million, exceeding the expected $90.7 million. The company reaffirmed its previous performance expectations, expecting annual operating expenses of $250 million, which is slightly higher than the market’s expectation of $249.3 million. Beyond Meat’s stock price rose 13% after hours.


EU region

【Eurozone’s unemployment rate drops to its lowest level in 40 years】 During the fight against the pandemic in Europe, the unemployment rate in the Eurozone once soared but has since decreased significantly. The GDP-weighted unemployment indicator of the four largest economies in the EU was 6.6% in the first quarter of 2023. In comparison, the peak values during the pandemic in the fourth quarter of 2019 were 8.6% and 7.7%, respectively. Not only have the damages caused by the global financial crisis and the Eurozone crisis been largely repaired, but the latest data has also dropped to the lowest level since 1981.

【German government approves COSCO’s acquisition of minority stake in Hamburg port terminal】 Hamburger Hafen und Logistik, the port and logistics company, announced that the German government has approved China’s state-owned enterprise COSCO Shipping’s acquisition of a 24.9% minority stake in the Hamburg container terminal, Container Terminal Tollerort (CTT).


Other Areas

【National Express to be renamed Mobico】 On Wednesday, National Express announced that it will be renamed Mobico next month. The company stated that the new name better reflects the group’s international and diverse travel services. Furthermore, National Express will continue to be used as a customer-facing brand. The group operates public transport services in Europe, North America, and Africa.

【Japan’s national debt exceeds ¥127 trillion, reaching a new high】 According to a report by Kyodo News on the 10th, statistical data released by Japan’s Ministry of Finance on that day showed that as of the end of March 2023, the total national debt of the Japanese central government, including its government bonds, government borrowings, and government short-term securities, reached ¥127.0499 trillion, setting a new historical high.

【Toyota’s net profit in Q4 is ¥552.29 billion, an increase of 3.4% YoY】 Toyota’s operating profit for the fourth quarter was ¥626.93 billion, a YoY increase of 35%, estimated at ¥535.92 billion; net profit was ¥552.29 billion, a YoY increase of 3.4%, estimated at ¥534.82 billion; and net sales were ¥9.69 trillion, a YoY increase of 19%, estimated at ¥9.03 trillion. Toyota will buy back shares worth up to ¥150 billion, accounting for no more than 0.88% of its total shares.

【Coupang’s Q1 revenue reaches $5.8 billion, a YoY increase of 13%】 According to news on May 10th, Coupang announced its financial results for the first quarter of 2023. The data shows that Coupang’s Q1 revenue was $5.8 billion, a YoY increase of 13%, or a YoY increase of 20% on a currency-neutral basis; net profit was $91 million, an increase of $300 million YoY; gross profit increased YoY by 36% to $1.4 billion; gross profit margin was 24.5%, an improvement of over 400 basis points YoY; diluted earnings per share were $0.05; adjusted EBITDA was $241 million, with a profit margin of 4.2%, an increase of nearly 600 basis points YoY.

Coupang had over 19 million active customers in the first quarter of 2023, an increase of 5% compared to the same period last year and the previous quarter. The total net income per active customer was $305, an increase of 8% compared to the same period last year.

【India’s April inflation rate may hit an 18-month low】 According to a survey, India’s consumer price index in April may have dropped to an 18-month low due to slower rises in food and fuel prices.

【Li Auto’s Q1 revenue was RMB 18.79 billion】 Li Auto released its financial report for the first quarter of 2023, which ended on March 31st. The report showed that Li Auto’s total revenue in the first quarter was RMB 18.79 billion (approximately $2.74 billion), a 96.5% increase from the first quarter of 2022 and a 6.4% increase from the fourth quarter of 2022. The net profit was RMB 933.8 million (approximately $136 million), a 252.0% increase compared to a net loss of RMB 10.9 million in the first quarter of 2022 and a 46.1% increase compared to a net profit of RMB 967.6 million in the fourth quarter of 2022. The non-GAAP net profit was RMB 1.41 billion (approximately $206 million), a 196.4% increase compared to the first quarter of 2022.

【Baltic Dry Index rises as demand for Capesize ships increases】 The Baltic Dry Index rose on Wednesday due to increased demand for Capesize and UltraMax vessels. The index rose 42 points to 1640 points, a 2.6% increase. The Capesize index rose 121 points or 4.8% to 2630 points, the highest level since the end of December last year. The Panamax index fell 13 points to 1481 points, the lowest level in over 10 weeks. The daily profit for Panamax vessels decreased by $117 to $13,333. The UltraMax index rose 17 points to 1114 points.

Amazon Europe launches new shipping time options for large packages On May 10th, Amazon Europe announced that it has added shipping time options for “large and heavy items” in its shipping templates. Sellers can now choose specific delivery times and provide more accurate delivery promises for large packages. Sellers can now choose from the following shipping time options: 1 day, 2 days, 1-2 days, 2-3 days, 2-4 days, 2-5 days, 3-4 days, 3-5 days, 5-7 days, 5-10 days, and 7-14 days. Amazon encourages sellers to use more precise shipping time settings at the regional and postal code levels (e.g. 1 day or 2 days). This change provides sellers with greater flexibility and allows them to provide more accurate delivery promises to customers who purchase heavy and large items.

Shopify Markets Pro upgrades refund process On May 10th, Shopify Markets Pro announced an upgrade to the payment logic for refund orders, allowing customers to receive full refunds directly without waiting for the platform to refund customs and taxes. After the payment logic upgrade, Shopify Markets Pro will no longer withhold taxes and duties paid for the cancelled order in case of a refund request from the customer prior to shipment. The customer will still receive a full refund for the amount paid. Additionally, Shopify Markets Pro will not mark refund orders before shipment as “pending”.

eBay Canada introduces authentication service for trading cards On May 10th, eBay Canada announced the introduction of a new authentication service for trading cards. The platform will now collaborate with CGC and CSG, well-known international card grading organizations, to authenticate trading cards with a selling price of $250 or more. Both buyers and sellers are not required to pay additional fees. Certified trading cards will feature a blue “Authenticity Guarantee” badge. The following is the process for eBay’s authentication service:

After the buyer places an order, the item will be shipped to eBay’s accredited agency in Canada for inspection. The trading card will undergo multiple inspections by CGC or CSG, and CGC or CSG will also inspect the trading card based on the detailed information listed before packaging.

【Shopee China Taiwan Station updates shipping empty bags and policy for goods that do not match the order】 On May 11th, Shopee Seller Learning Center recently released a notice on “Taiwan Shrimp prohibits the transportation of prohibited items, empty bags, and policy updates for goods that do not match the order”.

The notice stated that from the punishment cycle of May 22, 2023 (including orders that need to be appealed on May 12th and later) verified by Shopee that the orders shipped by the seller are empty packages, the first time will score 3 points, and the second time will score 12 points (cumulative 15 points of penalty score, and the store will be frozen for 28 days).

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