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▶ Video account attention cross-border navigation
Cowards will only hesitate, reckless people will only bring disaster upon themselves, and only those who are truly brave and sincere can be invincible.
In the bloody year of 2021, the cross-border industry has experienced an unprecedented reshuffle. Amazon's platform control has become increasingly tighter, and a wave of account bans has suddenly appeared, affecting many cross-border sellers.
Recently, in the first financial reporting season of 2022, big sellers have successively disclosed their performance reports for the first quarter of 2022. Some of them have been severely damaged and have not yet recovered from the sequelae of account suspension, some have taken advantage of the situation and eliminated disadvantages and successfully turned losses into profits amid the turbulence, and some are as solid as a rock and have achieved counter-cyclical growth despite the wave of account suspensions. Among them, the most eye-catching is the cross-border giant Zebao and its parent company Xinghui Holdings, which were hit hard by the account blocking wave last year and were recently affected by the aftershocks of the account blocking wave. Zebao hit by class action lawsuit The amount involved in the case is as high as 33 million yuan! It is learned that recently, Sunvalleytek International, a US subsidiary of Zebo, was sued by US consumers in a class-action lawsuit, with the amount involved reaching US$5 million, or about RMB 33 million. ▲ The picture comes from the lawsuit It is learned that after a foreign media investigation in June 2021 revealed the practice of Zebao's subsidiary Sunvalleytek International including gift cards in product packaging, Amazon immediately determined that Zebao had violated the platform's operating rules, removed its products from the shelves and closed a large number of its accounts. The cause of this lawsuit is also related to the account blocking wave - American consumers who purchased ZEBO products believed that ZEBO's practice of placing gift cards exaggerated the number of positive reviews of the products (that is, using gift cards to lure more consumers to leave more preferred reviews) , which is an act of creating false reviews and deceiving consumers. In the lawsuit, the vast majority of consumers mentioned that they purchased many products because they trusted Zebao’s positive reviews on Amazon. Among them, David Oh, the consumer representative who filed the lawsuit, also stated that in 2019, he bought TV speakers, computer speakers and humidifiers from Taotronics, a brand under Zebao, because he saw that Zebao products had high ratings and relatively real and objective reviews on Amazon. However, after receiving the products, he found that the actual products did not match the reviews, so he was very angry. Currently, the California court has accepted the case. This is not good news for cross-border sellers who were affected by the account suspension last year. Some sellers said that the consumer representative who filed the lawsuit placed orders for different types of ZEBO products many times before experiencing the ZEBO products, and also filed a high-priced claim in this lawsuit , which is suspected of "blackmail". Many sellers also said they would be more vigilant when they saw the news of the lawsuit, believing that sellers whose accounts were blocked last year were at risk of being sued. However, it is understood that as of now, there is no news of other sellers whose accounts have been blocked being sued, so sellers do not need to worry too much for the time being. In addition, recently, Zebao’s parent company, Xinghui Co., Ltd., also issued a correction announcement for its 2021 annual report.
Zebao corrects 2021 annual report Non-Amazon channel revenue decreasedIt is learned that recently, Xinghui Co., Ltd. issued a correction announcement for its 2021 annual report. In the announcement, Xinghui Co., Ltd. will revise the impairment provision for goodwill of the asset group where Zebao Technology is located from 677 million yuan to 680 million yuan, and will revise the 2021 operating income of Zebao Technology through non-Amazon channels such as self-operated platforms (independent stations), Walmart platforms, and offline channels from 617 million yuan to 605 million yuan . Among them, the revenue from the Amazon platform accounted for 76.54% of Zebao’s annual revenue, which is enough to show Zebao’s dependence on the Amazon platform. It is learned that since June 2021, the stores of RAVPower, Taotronics, VAVA, Anjou, Sable, Hootoo and other brands under Zebao, a subsidiary of Xinghui Co., Ltd., have been suspended from sales by Amazon one after another. As of the end of 2021, the number of Zebao's sites suspended from sales by the Amazon platform has reached 367 , and the balance of frozen funds is equivalent to about RMB 32.2301 million . After the account blocking incident, Xinghui Co., Ltd. actively responded to rectification, promoted multi-platform and multi-channel development, developed new joint operation models, acquired other brands and continuously optimized internal construction, which promoted the company's healthy and steady growth. However, as of the first quarter of 2022, Zebao has not completely gotten rid of the negative impact of the ban. During the reporting period of the first quarter of 2022, Zebao's parent company, Xinghui Co., Ltd., achieved operating income of 588 million yuan , a decrease of 54.98% from the same period last year ; the net profit attributable to shareholders of the listed company was -0.26 billion yuan , a decrease of 174.43% from the same period last year . At present, reducing dependence on Amazon's single platform and switching tracks to multi-channel layout has become the choice of Zebao and other cross-border sellers who are too dependent on Amazon's single platform. However, we would like to remind sellers that for cross-border sellers with strong funds and a strong supply chain, it is indeed a good choice to establish their own independent website to avoid Amazon's "one-man show". However, it is still difficult for cross-border sellers to truly and quickly switch from third-party platforms to independent websites. Blindly following the trend is not advisable, and being well prepared is the hard truth. It is also learned that some analysts said that although Amazon's stock price has fallen 26% since its last profit, most of its risks have been digested. For long-term investors, Amazon is still the "first choice" of the entire Internet industry. The research report stated that although weak consumption may have an impact on Amazon's sales, Amazon is still likely to capture a large share of the market in a more challenging macro environment. With Amazon's upcoming Prime Day event in July this year, it is expected to absorb the $6 billion in incremental costs it incurred in the first quarter by the end of 2022. As Zhu Xi said: If you are not determined, you will not be able to achieve anything. The current competition environment on Amazon is indeed fierce, but cross-border sellers who think and analyze, prepare and persevere in everything are often the winners with huge sales. What do you think about this? Welcome to discuss in the comment area~
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