Ecommerce News Roundup | 25 May 2023
Lots more company reports out this week with some great results both in the UK and around the world. The reopening of the Chinese economy has been driving strong demand. Affordable luxury and travel continue to dominate growth stories elsewhere but even boring businesses like Tops Tiles are doing well if they have optimised for multi-channel.
Social Media watch
With 40% of Gen Z searching TikTok first to look for new places to lunch, rather than Google Maps should Google be worried about TikTok's conquest?
Macro economics
Gas prices in Europe now at their lowest since early 2022 and are now down 90% from their peak.
Best wishes,
James & Patrick
“They laughed at Columbus and they laughed at the Wright brothers. But they also laughed at Bozo the Clown.”
UK ECOMMERCE & BUSINESS NEWS
JustEat's new MD Claire Pointon proves that Customer Director is the new route to the top
UK shows strengthening jobs market and consumer confidence
Tops Tiles cites strong omni-channel experience as factor in 30% growth
JD Sports grows over and above inflation - trainers are affordable luxury
Guardian
M&S reports 20% growth in click and collect as App take up soars
Sainsbury's to set up fashion marketplace
INTERNATIONAL ECOMMERCE & BUSINESS NEWS
AirBnB grows 20% and has first ever profitable Q1 in 2023
Asics reports 45.1% ecommerce growth as Asia roars back into growth
Luxury marketplace MyTheresa reports 18% GMV growth
Underarmour continues to invest in ecommerce and sees 6% growth in D2C channel
Zalando profits from on-line club