The British online retailer has seen strong retail growth in the four months to June 30. UK sales grew 28%. International sales jumped 31%, driven by a 53%increase from the U.S. and a 32% increase from Europe. Overall, international sales account for 59% of the company’s total sales during the period. The company closed its standalone Chinese website in May.
Alibaba Group opening VR shop
Alibaba plans to open a virtual-reality (VR) demonstration shop this month. By wearing a VR helmet or glasses, shoppers can rotate products they see in the virtual store, ask for a model to show how the product works or is worn, and purchase the product. While the cost to convert a real product to a digital, three-dimensional version is high ($50), Alibaba hopes to lower the cost to $1.
Brexit: what does it mean for [British] online retailers?
The EU is Britain’s largest trading partner as the western European markets account for more than 50% of the country’s export of online business. The negative effects of Brexit has already been felt: depreciating pound and potential importing tariffs and taxes. On the other hand, a weakening pound has made British products more attractive to international buyers. UK-based online retailers will be able to sell more goods aboard but will face a potential increase in tariffs and VAT.
Amazon just had its biggest sales day ever
Amazon has its biggest sales day ever on the self-created holiday, Prime Day. Orders grow more than 50% in the U.S. The event may have added between $500 million and $600 million to the retailer’s topline. In an otherwise slow shopping month, the retailer’s event not only generates more revenue but also encourages more shoppers to sign up for a Prime membership. According to Consumer Intelligence Research Partners, a non-member spends about $500 on Amazon, whereas a Prime member spends roughly $1,200 a year. Prime members tend to be loyal. CIRP finds that 91% of members renew for a second year. It also finds that after a free 30-day trial 73% of the people are converted into paying members.
RELATED: Walmart takes on Amazon Prime Day with week-long free shipping deal
Walmart takes on Amazon Prime Day with a week of free shipping with no minimum purchase required.
Is eBay Losing Its U.S. E-Commerce Footing To Walmart?
eBay has been struggling to compete with Amazon in both visits and sales. The company’s Q1 result shows the its total marketplace revenue falls 2.3% YOY to $1.5 billion while Amazon grows 25% YOY to $26.6 billion. Domestic market only contributes 39% of eBay’s total marketplace revenue. Meanwhile, Walmart has grown its online business in the last year. comScore’s web traffic data indicates that eBay’s loss in visits has been partially Walmart’s gain.
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