There have always been accusations from third-party sellers on Amazon that the e-commerce giant has worked hard to undercut them, but the company has pushed back against this accusation.
Since last year, the cost of shipping from China has increased by 80% due to pandemic-related lockdowns. At a time when consumers are much more likely to spend, supplies are not meeting demands.
With in-store sales expected to drop 35% as a result of the pandemic, major retailers are prolonging the sale to last a few more days and investing heavily in online offers.
Experts warn that the autonomous territory is headed for a recession after weeks of protests destroyed the retail sector and disrupted the booming tourism industry.
Physical retailers have been going bankrupt at an alarming rate, and now it was time for Shopko. The rural retailer was in huge debt and it will shut down its operations by June.
