Ecommerce news and archive

Farfetch acquisition weighs on Coupang revenue

Coupang Credits: Coupang investor relations Coupang, South Korea's leading e-commerce platform, has reported its first quarterly loss in two years, as the company grapples with the integration of its recent Farfetch acquisition and a significant regulatory fine. The setback comes despite robust growth in its core online retail business. The...

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Revolve to acquire couture house Alexandre Vauthier

Revolve, the California-based online fashion retailer, is reportedly acquiring French haute couture brand Alexandre Vauthier. The 15 year-old company, which entered administration at the beginning of the year, has been looking for a buyer since February, said the Business of Fashion. Vauthier, which wholesales ready-to-wear and sells haute...

Retail

Shopify unveils new AI-powered commerce features

Shopify, the e-commerce infrastructure provider, has unveiled a comprehensive update to its platform in its Summer '24 Edition, aiming to deliver a more unified and intuitive experience for merchants. The company is refining its services to meet the evolving demands of commerce across various scales, from entrepreneurs to enterprises. Deann...

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Shopify says retailers and consumers are accelerating climate-conscious shopping

Canadian e-commerce platform Shopify is increasing its efforts to combat climate change, emphasising the symbiotic relationship between commerce and environmental sustainability. As a corporate investors in long-term carbon removal initiatives, the Ottawa-based company says it has allocated over 32 million dollars to support 22 innovative,...

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8 ecommerce pricing tactics for boosting sales and profit margins

Credits: Image: Shopify, via Shopify archive Having a solid pricing strategy is key to succeeding in today’s ever-increasingly competitive ecommerce world. As consumers continue to prioritize finding the best value for their money, online retailers need to ensure their pricing strategy is as effective as possible. Crucial for shaping a brand’s...

Business

U.S. online sales to exceed 1.1 trillion dollars in 2023 with slowest growth in a decade

E-commerce sales in the United States are expected to exceed 1.1 trillion dollars in 2023, showing significant growth from the 1 trillion dollars recorded in 2022, according to the Department of Commerce. Despite a 7 percent growth rate this year, it represents the slowest expansion since the 2009 recession. Marketplace Pulse's analysis reveals...

Business

TikTok to spend billions in Southeast Asia as e-commerce move pays off

Jakarta - TikTok's chief executive said Thursday the company would pour billions of dollars into Southeast Asia in the coming years, as a report showed its nascent venture into online shopping is paying off. The popular video-sharing app's e-commerce affiliate has gained a substantial market share in the region just a year after its launch....

Business

TikTok's venture into e-commerce paying off: report

Singapore - TikTok's nascent venture into online shopping is paying off, with its e-commerce affiliate gaining a substantial market share in Southeast Asia just a year after its launch, a report said Thursday. TikTok Shop capitalised on the legions of users of the popular video-sharing app to expand its business in 2022 after testing the waters...

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Shopify eyes European growth, appoints new EMEA leaders

Ecommerce platform Shopify is investing in its European growth strategy with two new appointments. The Canadian tech firm announced it appointed Deann Evans as Managing Director, EMEA, and Birk Angermann as Head of Revenue, EMEA, to drive growth in the region and provide better support to its merchants and partners. EMEA currently accounts for...

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What is Unified Commerce and why is it so important for fashion retailers?

Although the term has been around for years, Unified Commerce remains somewhat of an emerging concept for many retailers. A recent survey conducted by Bain & Company global consultants, on behalf of Aptos, the retail technology solutions platform, found that the fashion industry still remains largely unprepared for it. However retailers are...

Retail |ANALYSIS

WRC 2023: Retailers' profits decline as the Internet becomes more important in people’s lives

US-based global consulting and financial advisory firm AlixPartners and the World Retail Congress - a key event for the retail sector taking place from today and running for three days in Barcelona - today released a report that addresses the needs of retailers to evolve in a cost-effective way in today's world, where consumer habits are...

Business

Shopify shares soar after e-commerce platform beat expectations

Shopify this week released stellar third quarter earnings, seeing a 22 percent increase to 1.4 billion dollars compared to the prior year. Its shares soared as result, after it beat analysts’ forecasts. Harley Finkelstein, Shopify President commented: “Shopify is the central nervous system that powers millions of businesses around the world....