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February 22, 2022

Global Ecommerce Weekly News: 22nd February 2022

By Clea Boyd-Eedle / Amazon, Global Ecommerce, Ecommerce Trends

Get up to date with this week's ecommerce headlines from around the globe.

Amazon and Visa reach worldwide fee agreement

  • Amazon will continue to accept Visa payments on its sites following a deal made between the two entities on payment fees.

  • Amazon and Visa entered into a feud last year with Amazon’s announcement it would no longer accept Visa payments on its UK instance due to rising payment fees.

Read more on Bloomberg

Shopify releases 2021 financial results, 57% overall revenue increase YOY

  • Shopify, a US-based ecommerce selling platform, has released its financial results for Q4 and full-year 2021, revealing strong growth for the company.

  • The platform’s full year revenue for 2021 grew 57% compared to 2020.

  • Shopify’s growth can be attributed to its strong ecommerce technology investments and presence in social commerce.

Read more on Shopify

ASOS share prices drops following LSE main market debut

  • UK-based online fashion giant ASOS’s share prices have fallen 3.1% following its debut on the London Stock Exchange (LSE) main market.

  • The company has been listed on the AIM submarket for 20 years, which led to an almost 10,000% increase in its share prices.

  • LSE’s main market has stricter reporting requirements than its submarkets, suggesting Asos may be looking to reassure shareholders of its reliability.

Read more on Charged Retail

THG in dispute with beauty brands following deep discounting

  • The Hut Group is seeing its beauty suppliers limiting the supply of stock following issues with deep discounting on items.

  • Premium beauty brands, including Dermalogica, have taken action to protect their own price points and associated brand images.

  • Beauty products account for more than 50% of sales on THG’s platform.

Read more on Retail Gazette

Alibaba’s Koala Haigou launches luxury products on platform

  • Koala Haigou, a cross border ecommerce platform owned by Alibaba, has just launched a luxury channel offering thousands of products from brands like Dior, Louis Vuitton, and Burberry.

  • The platform is working with retailers in Europe and luxury Japanese resellers to source high quality, pre-loved luxury goods.

Read more on Business of Fashion

More Resources
Tmall Global Benchmarking Report 2022
Australian Ecommerce Benchmark Report January 2022
2022 International Retail Holidays by Month