by Chris Black
— Planet Today News (@PlanetTodayNews) May 13, 2022
Here’s the deal:
Most of those ships were forced to turn back and return to China. The window to sell the inventory this year blew by. The companies just wrote the orders off as a loss to reduce their taxes.
Once that happens, they can’t take delivery. Once the stuff gets back to China it will just go on Alibaba for sale as bootleg merchandise, even though it is “real”.
Do you know the difference between the $900 Air Jordans they sell in the mall and the $60 Air Jordans you buy from Vietnam through a shady dealer? There is no difference other than the $840 you spent to be cool.
Why would you order and ship products you can’t make money on?
Big public retailers are making record margins, the companies selling to them, not so much.
If you aren’t publicly traded where you can use fraud to pump your share price, there is no point in being in business. 90% of what sits on big retail shelves outside Walmart, exists only to support inventory stuffing stock fraud.
You can put a checkmark on an item at Dick’s Sporting Goods and go back a year later and that same product will still be sitting there.
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