Get up to date with this week's ecommerce headlines from around the globe.
Amazon to close all brick-and-mortar bookstores and pop-ups in US and UK
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Amazon has announced that it will be closing all 68 of its ‘Amazon Books’, ‘Amazon 4-Star’ and pop-up brick-and-mortar stores in the United States and United Kingdom.
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The move is part of Amazon’s strategy to focus on its grocery offerings and a department store concept in the future.
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Amazon’s first foray into the ecommerce world started by selling books, leading to the eventual bankruptcy of key players such as Borders.
Zalando records 10 billion euros in sales in 2021
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German fashion marketplace Zalando hit 10.4 billion euros in underlying sales in 2021, a 29.7% growth YOY.
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Zalando gained more than 10 million new customers in 2021, a more than 26% increase YOY. The marketplace now has 48 million active users and is available in 23 countries.
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The company is aiming to reach a gross turnover of 30 billion euros by 2025.
Wella aims for IPO
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German hair care company Wella is planning an initial public offering within the next four years.
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The company’s revenue was hit heavily during the onset of the pandemic, but has seen a strong rebound in 2021 and is expecting continued growth as demand from beauty salons returns.
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Wella’s most successful market is EMEA, but will be focusing on entering other markets in the coming years.
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1 in 4 new Amazon sellers expect to sell their business to an aggregator
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New research has found that a quarter of new Amazon sellers expect to sell their business to an aggregator, despite 45% of sellers stating their profits increased between 2020 and 2021.
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The research from Jungle Scout also found that 95% of sellers are planning on expanding their business on Amazon, with 32% planning on expanding their marketing spend as well.
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30% of sellers surveyed stated they were exploring selling on other marketplaces.
Klarna credit losses hit high of $542 million USD
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Buy Now, Pay Later company Klarna has revealed its credit losses jumped to $542 million USD in 2021.
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The company attributes the surge in losses to rapid growth in its consumer base and continued market expansion, with Klarna now offering its services in over 170 countries.
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Klarna claims that 99% of its lending is repaid and that its losses are below the industry standard.
Kanye West x Gap x Balenciaga’s collection sells out on Tmall Global
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The latest fashion collaboration between rapper Kanye West and luxury brand Balenciaga, featuring apparel brand Gap, has sold out on Farfetch’s Tmall Global store within minutes.
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The collection went on sale on February 23, with Tmall’s Chinese consumers snapping up all items immediately.