2024.10.29 GoodsFox Daily E-commerce News:
- Over $500 Million in Annual Sales! Big Market for Small Fishing Rods
- WeChat Mini Programs Accelerate Overseas Expansion
- 14 of the Top 20 Amazon Seller Cities Are in China
- New Amazon Seller Central Feature: Filter Business Reports by ASIN
- Indonesia Bans iPhone 16 Sales
1. Over $500 Million in Annual Sales! Big Market for Small Fishing Rods
The global fishing tackle market is expected to reach $19.154 billion by 2031 as traditional fishing gear companies pivot to online sales. North America and Europe have a strong demand for fishing products, with annual growth rates of 3.5% and 5.2%, respectively.
China produces 80% of the world's fishing gear, with over 60% coming from Weihai, Shandong. Notably, the Chinese brand KastKing leads exports in the U.S. market, boasting over 500 million RMB in annual sales. GoodsFox data shows that KastKing’s main products, like lures and waterproof boxes, target men aged 25-44.
Source: GoodsFox
2. WeChat Mini Programs Accelerate Overseas Expansion
WeChat Mini Programs are making waves globally by lowering barriers for overseas merchants. Only basic documents, like a business license, are needed to onboard. Features like “Get Phone Number” and “Nearby” are being introduced to capitalize on this trend. WeChat Shops have also significantly eased entry requirements since early September, allowing merchants to join with minimal information.
3. 14 of the Top 20 Amazon Seller Cities Are in China
According to SmartScout Insight, over half of the top 20 cities for Amazon sellers are in China, with Shenzhen leading at over 102,000 sellers—more than six times the number in New York and Brooklyn combined.
4. New Amazon Seller Central Feature: Filter Business Reports by ASIN
Amazon recently announced that sellers can now filter business report data by ASIN in Seller Central. This feature allows sellers to enter up to 100 ASINs in the search bar, simplifying data management. Previously, sellers faced challenges with offline data filtering. Amazon stated, “Our new search feature streamlines this process, enhancing sellers' capabilities in ASIN analysis.” This improvement facilitates real-time data access for better inventory and sales decisions.
5. Indonesia Bans iPhone 16 Sales
The Indonesian government has prohibited the sale and use of the iPhone 16 and other Apple products released this fall, including the Apple Watch Series 10, due to Apple's failure to fulfill investment commitments. However, travelers can bring up to two iPhone 16s into the country for personal use without selling them. The Indonesian Ministry of Industry clarified that these items must be declared for tax purposes.
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