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February 1, 2022

Global Ecommerce Weekly News: 1st February 2022

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

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

Two thirds of online platforms violating EU’s consumer protection laws with fake reviews

  • The European Commission has found that almost two thirds of online shops are not ensuring the reliability of product reviews, meaning fake reviews are not being moderated.

  • This contravenes EU consumer protection laws, which requires online merchants to provide truthful information to consumers to make informed purchasing decisions.

Read more on Ecommerce News Europe

Farfetch acquires beauty retailer Violet Grey ahead of own beauty launch

  • Luxury marketplace Farfetch has acquired popular luxury beauty site Violet Grey as part of its overall strategy to enter the beauty market.

  • Farfetch plans to launch a beauty section on its marketplace later this year, capitalising on the ongoing success of the online luxury beauty market.

  • According to Farfetch's Chief Customer Officer, Stephanie Phair, the acquisition will expand Farfetch’s product offerings, expertise, and customer base.

Read more on Fashion United

2021 global ecommerce spending figures released by Mastercard

  • Mastercard has released figures on online shopping in 2021 across the globe, revealing the UK to be the biggest spenders in ecommerce at a rate of 30%.

  • Singapore recorded the second-highest online spending figures, at 26.6%.

  • Across the globe, online spending in 2021 decreased from 2020, but across the board was still much higher than online spending pre-pandemic.

Read more on APN News

The Hut Group (THG) sees sales surge to £2.2 billion

  • UK-based ecommerce business THG has seen its revenue grow to £2.2 billion in 2021, a 37.9% increase year-on-year.

  • THG’s sales have also grown 95% compared to 2019, pre-pandemic.

  • These figures come following THG’s first full year as a public company which has been marked with controversy.

Read more on Retail Systems

Pattern releases Tmall Global Benchmarking Report

  • Pattern has just launched its Tmall Global Benchmarking Report, analysing the performance of 40 consumer brands selling on Tmall Global in China.

  • Tmall Global is a cross-border platform, enabling Western brands to reach 100 million active users in China.

  • Jellycat and OUAI Haircare tied for best performance on the marketplace, both scoring 90.8%.

Read more on Tamebay

Yoox launches new European fashion marketplace

  • Italian luxury fashion e-tailer Yoox has announced it would be launching a new European luxury marketplace platform.

  • The marketplace will be available in over 30 countries, offering over 150,000 items, including a number of sustainable brands.

  • Yoox has further plans for global expansion, including to the US, the Middle East, North Africa, and Japan.

Read more on Drapers Online

Instant grocery platform Zapp secures $200 million in latest funding round

  • Zapp has raised a further $200 million in its Series B funding round, with investments from Lightspeed, 468 Capital, and Broadlight Capital.

  • The rapid grocery startup launched in London in 2020, part of the recent boom in on-demand groceries.

  • This new funding will enable Zapp to continue to compete with rivals Getir, Gopuff, Gorillas, and Deliveroo.

Read more on Tech Crunch

Online retail sales in China grow 14.1% in 2021

  • New figures have been released detailing retail sales figures in China in 2020 and 2021, showing a steady growth of retail sales, especially online sales.

  • Online retail sales of physical goods accounted for 24.5% of total retail sales in China in 2021.

  • Demand for luxury consumer goods, i.e. jewellery and cosmetics, grew by 29.8% in 2021.

Read more on China Internet Watch

Research suggests social commerce boom in UK amongst young shoppers

  • A new report has found that 39% of 18 to 35 year olds in the UK use a brand’s social media channels to purchase products.

  • Social commerce, selling through social media platforms, is already a massive market in China, and is reportedly worth around $6 billion USD.

Read more on Charged Retail

Live shopping service launched on M&

  • Marks & Spencer has launched a new live shopping service on its online shopping site.

  • The service will provide online customers with a live broadcast hosted by an M&S expert, providing detailed information about products, answering live questions, and offering product demonstrations.

  • The move is part of M&S’s overall strategy to enhance customer experience and introduce new, tech-driven initiatives.

Read more on Retail Systems

More Resources
Tmall Global Benchmarking Report 2022
UK Shopper Report 2021
Amazon UAE Benchmarking Report 2021