Engineering distributor group Troy UK has launched a new B2B2C platform. The platform, called Troy Commerce, allows members to procure products from the Order hub, but also enables them to design their own ecommerce stores.
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Showing posts with label Ecommerce News. Show all posts
Showing posts with label Ecommerce News. Show all posts
Troy UK launches order hub and store builder
Heroes raises €55 million to acquire and scale Amazon brands
Heroes, a company from the United Kingdom, has raised 65 million dollars (55 million euros) in a round led by Fuel Ventures and 360 Capital Partners. The company acquires, operates and scales small and medium-sized ecommerce brands that sell on Amazon.
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Why is Southern Europe lagging behind in ecommerce?
Southern Europe, in this case defined as Spain and Italy, is lagging behind in ecommerce. Online sales as a percentage of total retail, for example, are far lower than in more northerly countries. But why is this?
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Payer lets B2B ecommerce companies verify new customers easily
Payer, a fintech company from Sweden, has launched a new product that should change customer registration in B2B ecommerce. The new product, yet to be named, lets ecommerce merchants verify new customers, so they can easily make their purchases.
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Online payment trends across Europe
When it comes to paying for online purchases, many shoppers use their credit cards, PayPal or bank transfers. But which payment methods are most popular? And what’s the difference in payment preferences among different countries across Europe?
Aravato took a closer look at payment systems in online shops. It studied the payment trends in the United Kingdom, Germany, France, the Netherlands, Italy, Sweden, Poland, Russia, Turkey, and the US.
Payment methods in Russia
One of the findings is that in Russia, payment by credit card is the most preferred method. Russians not only use the well-known cards from Visa and Mastercard, but also from domestic credit/debit card system MIR.
Payment on delivery is another very popular method. “What sounds unusual for us is completely normal for Russians”, Dennis Schmitz, Vice President Financial Services at Arvato Supply Chain Solutions, says. Some shops even use their own courier personnel: the drivers are instructed to wait for 15 minutes while the customer tries on the ordered goods and determines if they wish to keep them and make payments or return them immediately. Often this is because of the cumbersome nature of the returns process.”
Russians like to pay on delivery.
Online retailers looking to expand to Russia, should carefully think about the payment methods they will offer in their checkouts. Russia shows the highest growth rate for mobile payments in Europe (of the countries examined by Arvato), but Russians clearly prefer national systems such as Yandex Money, QIWI and WebMoney over global competitors like PayPal.
Payment methods in Turkey
In Turkey, credit card are also the most popular payment method, with Visa and Mastercard each having 93 percent coverage. But 40 percent of the online shops studies offer the domestic credit card Troy, so it might be smart for foreign cross-border ecommerce companies to offer this card as well when selling in Turkey.
Arvato found it interesting that in Turkey there are many national banks that offer their own credit card systems with repayment in installments. It’s estimated that 55 percent of all card transactions are made up by this method.
And similar to Russia, mobile payments are rising in Turkey too. National providers like BKM Express, GarantiPay, and Masterpass are in the lead here.
Mobile payment methods in Turkey are on the rise.
Payment methods in Poland
In Poland, it seems that the preferred payment method is bank transfer. One in two customers would choose this method to complete their online order. In Polish ecommerce, PayU is a very popular method, as well as Dotpay and Przelewy24. “Cash on delivery, still quite popular in Poland and offered by 60% of online shops analyzed, will lose ground to mobile payment solutions”, Schmitz says.
In Poland, there’s BLIK, which is supported by all major Polish banks as a national alternative to Apple Pay and Google Pay. This system is becoming increasingly popular, Arvato claims. Last year, 8 million users were responsible for 218 million transactions using BLIK, and this number is rising.
BLIK is supported by Polish banks to compete with Apple Pay and Google Pay.
Payment methods in Sweden
In Sweden, the credit card is popular, but so is purchasing on account, which means consumers look first, then buy. Over half of the online shops examined that offer payment on account do so via the very popular Swedish fintech Klarna.
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De Bijenkorf launches in France
Dutch department store De Bijenkorf has launched its online shop in France. In February this year, word came out that the omnichannel retailer was looking to expand its business across Europe by opening a French ecommerce website.
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Cross-border trustmark Shopping Secure launched
Dutch ecommerce association Thuiswinkel.org has launched Shopping Secure, a trustmark for cross-border ecommerce companies. The international trustmark can be used by both B2C and B2B companies.
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November: ecommerce events in Europe
The second wave of the coronavirus has hit Europe, so, unfortunately, many ecommerce events still take place online. But the good news is there are still several virtual ecommerce events in Europe you can attend. Let’s have a look.
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Dutch ecommerce top remains unchanged
The six biggest online stores in the Netherlands in 2019 are still the same six as in the year before. Bol.com remains the biggest ecommerce player, with a revenue of 2.17 billion euros. It’s followed by fellow Dutch companies Coolblue and Albert Heijn.
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Smartmile expands in Finland and the Netherlands
Smartmile is expanding its network of open and shared parcel automates. The company will install a total of 40 new lockers in Finland and the Netherlands.
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Conrad Electronic closes stores in Switzerland
Conrad Electronic has made the decision to let the leases of its two branches in Switzerland expire in 2021. This means the consumer electronics retailer will close its physical stores. But Conrad won’t be leaving Switzerland completely: it now focuses on ecommerce and b2b.
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Polish martech startup Edrone raises €4.5 million
Polish company Edrone has raised 5.3 million dollars (4.5 million euros) in its first funding after bootstrapping for the last four years. Edrone is an AI-fueled platform that provides customer experience solutions for ecommerce companies.
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Irish retail moves to ecommerce
Retailers in Ireland are migrating online as the outbreak of the coronavirus has fueled ecommerce in the Western European country. Online sales are now a significant part of the retail offering for thousands of Irish companies.
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European brands: relying on marketplaces isn’t sustainable
54 percent of European brands think their ecommerce potential is crippled by their logistical capabilities. And that’s why many retailers and brands turn to online marketplaces. But they also think that relying on marketplaces isn’t sustainable and want to shift the balance more to their own ecommerce channels.
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Turkish ecommerce platform Trendyol wants to expand in Europe
Trendyol, one of the largest ecommerce companies in Turkey, has plans to expand in Europe, including the United Kingdom, Italy, and Spain. The expansion plans will happen with a new website.
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German ecommerce: top 5 accounts for 47% of top 100’s revenue
The five biggest ecommerce players in Germany account for almost half of all revenue generated by the 100 biggest online retailers. This significant share is generated by Amazon, Otto, Zalando, Media Markt, and Notebooksbilliger.
The statistic above is just a reminder how highly concentrated ecommerce in Germany really is. It all starts with the 1,000 biggest online stores, whose revenue is generated mostly by the top 100. And within this group, the big five are responsible for 47 percent. This corresponds to 17.5 billion euros.
The big five have a total revenue of €17.5 billion.
Top 5 of biggest online stores in Germany
This is shown by the study ‘E-Commerce Markt Deutschland’ by Statista and EHI Retail Institute. Based on their data, this is the top five of the biggest online retailers in Germany:
| Amazon.de | 10.5 billion euros |
| Otto | 3.4 billion euros |
| Zalando | 1.6 billion euros |
| Media Markt | 1.2 billion euros |
| Notebooksbilliger | 0.9 billion |
Distribution of revenue
To better get a grip of the highly concentrated ecommerce market in Germany, just check the image below. It shows the distribution of net revenue of the top 100 online stores in Germany.
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October: ecommerce events in Europe
Unfortunately, Covid-19 is still among us, so there are rarely physical ecommerce events to attend. Still, there are several virtual ecommerce events in Europe you can attend. Let’s have a look.
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Worten Spain closes 17 stores and focuses on ecommerce
Worten has closed 17 physical stores in Spain and will instead focus more on its online sales channel, after adding continuous losses since 1998. The Portuguese electronics retailer has entered into dissolution several times and, according to its auditor PwC, hasn’t provided all the information required to guarantee a viability plan.
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Rakuten Germany closes its doors
Rakuten.de will no longer accept any new orders. The online marketplace announced it will close its doors on 15 October. The decision was made due to challenges with “leading the ecommerce business to a relevant market presence”.
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Trouw Nutrition digitizes its B2B offering
Trouw Nutrition, a major player in animal nutrition, has decided to digitize its offering on a large scale. It turned its outdated ordering tool into a modern online sales solution, thereby putting more effort into its B2B ecommerce business.
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