Each week we gather the top three eCommerce news items of the week. Here’s what stood out for us this week!
Primark estimates that non-essential retail closures across its global store estate cost the business £1.1bn in lost sales in the first half of its financial year, but expects the period after lockdown ends to be “highly cash generative”.
Primark, which does not sell online, attributed this 41% forecasted decline in interim sales to store closures across its global estate due to coronavirus lockdowns. Read the full article here.
A whopping 93 per cent of the UK say they have shopped on Amazon at least once over the past 12 months, as the online giant solidifies its dominance during lockdown.
According to new research from ecommerce specialist Pattern, just seven in 100 UK citizens avoided Amazon all together over the last year.
The UK’s successive national lockdowns were unsurprisingly a key factor in driving shoppers to Amazon’s vast marketplace, with 43 per cent of respondents stating closure of non-essential stores was the key reason behind them making a purchase. Read the full article here.
Etsy saw revenues surge nearly 130 per cent during its fourth-quarter blitzing analyst expectations and driving its stock up over five per cent.
Etsy hailed an “exceptional fourth-quarter performance” bringing the total sales across its platform in 2020 to $10.3 billion, driving full-year revenues of $1.7 billion. Read the full article here.