Each week we gather the top three eCommerce news items of the week. Here’s what stood out for us this week!
Ebay has smashed analyst estimates in its first quarter as it proves to be one of the few retailer companies benefiting from the global lock-down.
Expectations were also surpassed in its outlook for the coming quarter, with Ebay stating it expected revenues over the peak months of the lock-down to come in at between $2.38 billion (£1.91 billion) and $2.48 billion (£1.99 billion), well above average expectations of $2.32 billion (£2.86 billion).
It added that during the quarter efforts to simplify its platform had led to a two per cent growth in active buyers to 174 million. Read the full article here.
Brands in the retail sector are likely to record mixed fortunes as a result of the COVID-19 pandemic, with e-commerce brands predicted to fare the best – and Amazon is set to dominate them all.
According to the latest report by Brand Finance, the top 50 most valuable retail brands, on average, should see a slight increase in brand value following the pandemic, growing a modest 1% – a result of the majority of the brands in the ranking either being e-commerce brands or dominant, well-known brands, which tend to have strong e-commerce capabilities. Read the full article here.
Shopify has launched its own consumer shopping app allowing users to browse goods from local independent businesses.
Shop is a new shopping platform from Shopify, which provides the foundation for over 1 million ecommerce websites across the world, now available to download on iOS and Android.
“Designed to bridge the gaps in online shopping”, adds a range of new features allowing customers to locate local merchants, browse their products and see if they offer home delivery or click and collect options. Read the full article here.