Each week we gather the top three eCommerce news items of the week. Here’s what stood out for us this week!
OnBuy has posted record growth figures just four years after its launch, and has set its sights on achieving £2 billion in sales in the next four.
The online marketplace said that at the end of its fiscal year (2020), it recorded 24,000 per cent GMV growth since launch four years ago. Read the full article here.
PayPal has launched its own “buy now, pay later” (BNPL) scheme in a major challenge to market leaders like Klarna and Afterpay.
‘Pay in 4’ will be freely available to all merchants who accept PayPal as a payments option, which covers a whopping 79 per cent of the top 100 online merchants.
It will allow shoppers to pay for purchases of between $30 and $600 by putting down just 25 per cent of the purchase value, then pay the rest in interest-free instalments across six weeks. Read the full article here.
Retailers have created new roles and transformed their operations to meet evolving consumer requirements following the coronavirus pandemic, according to new research.
A study from Barclays Corporate Banking found that 15% of UK companies have created roles specifically to cater to an increase in digital sales and boost online capacity.
It also indicated 26% of industry leaders believe the pandemic has accelerated a technological revolution in retail. The study questioned more than 300 senior retail executives across the UK. Read the full article here.