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▶ Video account attention cross-border navigation It is learned that on September 8th local time, 96-year-old Queen Elizabeth II of the United Kingdom passed away. The gears of history roll forward. The collapse of "London Bridge" not only made many sellers sigh and witness history, but also brought shock to the cross-border circle. On the same day, in order to mourn the longest-reigning monarch, several railway and transport unions in the UK suspended strike actions. For cross-border sellers, the suspension of these strike plans may buffer the impact of the strike on peak season transportation to a certain extent. But so far, the trigger for the British workers' strike - the cost of living crisis caused by soaring inflation - has not been resolved. After the mourning period, strike actions are likely to rise again, which may deal another heavy blow to cross-border logistics in the European market. Recently, relevant European institutions are taking measures to control inflation. Inflation continues to rise, and Europe has raised interest rates significantly, a rare occurrence! According to data released by the European Statistical Office on August 31, the inflation rate in the euro area reached 9.1% in August on an annual basis. , exceeding market expectations and setting a new historical high again. According to expert analysis, the factors that have led to the intensification of inflationary pressure in Europe are mainly the following two points: 1. Affected by the conflict between Russia and Ukraine, energy and food prices in Europe continued to soar, and the economy showed a downward trend; 2. The Federal Reserve has continued to raise interest rates aggressively, and the U.S. dollar has been too strong, bringing negative spillover effects to the euro. Economic experts predict that the current inflation rate in the eurozone has not yet peaked. As energy prices continue to soar, the inflation rate in the eurozone will rise further in the coming months, possibly reaching double digits. To this end, on the evening of September 8th, Beijing time, the European Central Bank announced a substantial interest rate hike of 75 basis points , with the refinancing rate rising to 1.25%, the marginal lending rate to 1.5%, and the deposit rate to 0.75%. ▲ The picture comes from CCTV2 It is understood that this is the first time since 1999 that the European Central Bank has raised interest rates by 75 basis points, which is enough to show its determination to curb the "high fever" of inflation. The ECB said that preliminary estimates show that inflation may rise further in the short term due to demand pressures in some industries caused by soaring energy and food prices, as well as supply bottlenecks that are still pushing up inflation. Therefore, at the next meeting, the ECB is expected to raise interest rates further to curb demand and guard against the risk of continued rise in expected inflation. However, the ECB’s decision to put “fighting inflation” first is accompanied by a cold winter in which the European economy may continue to decline. Even the ECB predicts that the European economy will stagnate later this year and in the first quarter of 2023. And with the arrival of autumn in the northern hemisphere, Europe's energy crisis may further worsen in the approaching cold winter. Deep in the energy crisis, Europe's heating demand is strong! It is learned that as the European energy crisis continues to intensify, European countries such as Britain, Germany and France have announced the implementation of strict power rationing orders. Switzerland has even issued strict new regulations on natural gas use . According to Swiss media Blick on the 6th, due to the high risk of energy and natural gas shortages in Switzerland, Swiss people who violate Swiss government instructions and heat their homes above 19°C this winter will face fines and up to three years in prison . ▲ The picture comes from foreign media Previously, the chairman of the Swiss Federal Electricity Commission called on the public to stock up on candles and firewood in case of power outages this winter. It has been observed that as the cold winter approaches, the demand for heating in the European market is unprecedentedly high due to power rationing orders and high energy prices affected by inflation. To mitigate the impact of rising energy costs, consumers are taking various measures to address their heating needs, new research shows. 1. Cutting and burning wood for heating Toolstation, a large British retailer, revealed that sales of chainsaws have risen by almost a third in recent weeks, up 28% week on week. A company spokesman said the surge in sales was mainly driven by customers trying to mitigate the impact of rising energy prices and using chainsaws to cut wood. It was also learned that retailers of wood burners and stoves also saw an increase in sales. However, it is worth noting that due to the surge in demand, the cost of wood and wood burners is also rising. Eoin Fraser, a wood stove expert, mentioned: "The price of wood has recently soared from £75 per cubic meter to £110, and it is still rising. They may not be the best choice to save money on heating bills ." 2. Stockpiling of heating products Data shows that British consumers are stockpiling blankets, duvets, sleeping bags and hot water bottles . Retailer John Lewis also noted that sales of its electric heaters increased by 40% year-on-year, and searches for electric blankets on its website increased by 23%. On Amazon and eBay, some of the highest-rated electric blankets were sold out. 3. Sales of new energy power equipment surged According to foreign media reports, as energy and electricity prices in many European countries continue to rise, many European consumers have chosen to build their own photovoltaic and energy storage systems in order to reduce electricity costs , resulting in a significant increase in demand for household energy storage and new energy power equipment. Since 2022, the energy crisis has intensified, and the search volume for solar products on Amazon's European market has exploded. Take the data from Amazon's major sites in the first quarter of 2022 as an example:- Italy: Searches for solar panels surged 263% year-on-year, and searches for portable solar panels soared 1,123%.
- Spain: The most searched product in the solar energy product category is “solar lighting”, which increased by 45% year-on-year.
- France: Outdoor solar lights and solar panels ranked first and second respectively on the hot search list.
Supplier Shawton Energy also said that sales of solar panels in the UK market increased tenfold in August . The British Solar Energy Association mentioned that if UK energy prices increase as expected (an increase of 80% in October and another 50% in January next year), households with solar panels installed will save around £ 3,240 this year. As the weather gets colder, heating demand in Europe will further increase, and sellers of the above categories may usher in an explosion in sales. In addition, it is worth noting that given the decline of the European economy, even if the energy crisis is resolved, the rise in other living costs may force European consumers to choose cheaper heating methods . Therefore, the demand for related products is expected to continue, which may also be a major product selection opportunity for cross-border sellers. I wonder what sellers think about the current development of the European market? Welcome to discuss in the comments section~ |
