Get up to date with this week's ecommerce headlines from around the globe.
Amazon and Visa reach worldwide fee agreement
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Amazon will continue to accept Visa payments on its sites following a deal made between the two entities on payment fees.
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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.
Shopify releases 2021 financial results, 57% overall revenue increase YOY
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Shopify, a US-based ecommerce selling platform, has released its financial results for Q4 and full-year 2021, revealing strong growth for the company.
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The platform’s full year revenue for 2021 grew 57% compared to 2020.
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Shopify’s growth can be attributed to its strong ecommerce technology investments and presence in social commerce.
ASOS share prices drops following LSE main market debut
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UK-based online fashion giant ASOS’s share prices have fallen 3.1% following its debut on the London Stock Exchange (LSE) main market.
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The company has been listed on the AIM submarket for 20 years, which led to an almost 10,000% increase in its share prices.
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LSE’s main market has stricter reporting requirements than its submarkets, suggesting Asos may be looking to reassure shareholders of its reliability.
THG in dispute with beauty brands following deep discounting
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The Hut Group is seeing its beauty suppliers limiting the supply of stock following issues with deep discounting on items.
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Premium beauty brands, including Dermalogica, have taken action to protect their own price points and associated brand images.
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Beauty products account for more than 50% of sales on THG’s platform.
Alibaba’s Koala Haigou launches luxury products on platform
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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.
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The platform is working with retailers in Europe and luxury Japanese resellers to source high quality, pre-loved luxury goods.