- CNTV English - CCTV News

Holiday profit overseas takes hit

11-24-2010 10:05 BJT

Christmas comes but once a year. For holiday vendors in New York, it's a time to cash in on good margins on products from China. But this year, they say their Christmas bonuses may take a hit as producers in the far east have had to raise their own wholesale prices.

Many New Yorkers visit Bryant Park in Manhattan for their holiday shopping. But most of the products there are from China.

One shop owner in New York said "Workforce is a lot more inexpensive than it is here, so it's a lot easier...the quality is very nice, and 90 percent of our ornaments are made in China."

As the US slowly recovers from the financial crisis, shoppers are willingly to spend more and more ornaments have been shipped from China. Usually, shop owners favor the discounts that overseas products offer. But this year, prices have increased thanks to the appreciating yuan and rising costs on the producer's end.

One shop owner in New York said "Unfortunately every year, the price is higher. It's getting higher and higher. And unfortunately as well, the fee... the shipping from far east is kind of increased every year, sometimes prohibitively, that does reflect retail end as well."

Despite the rising costs, many vendors have kept their prices unchanged to attract customers. But owners say they don't know how long the situation can be sustained.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program