Online & Digital
The latest news, updates and analysis on the online and digital segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Apr- 2024 -22 April
Ocado shareholders call for switch to New York stock market
Ocado is reportedly facing pressure from shareholders to abandon the London stock exchange in favour of the New York market, according to The Telegraph. The outlet said that in recent weeks investors including a fund manager, have told management they would like to see the possibility of a listing in…
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22 April
TikTok Shop launches new ‘Preowned Luxury’ category
TikTok has announced the launch of the ‘Preowned Luxury’ category on TikTok Shop, which will enable the community to browse and purchase “authentic” luxury fashion. TikTok said the ‘Preowned Luxury’ category aims to help people learn more about luxury fashion, find style inspiration and purchase those must-have pieces, whilst on…
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17 April
Getir mulls asset sales amid restructuring talks
Grocery delivery app, Getir, is reportedly considering a number of asset sales as part of restructuring talks, according to Sky News. It is understood that the Turkish Group, which has expanded its presence in the UK, is in talks to offload FreshDirect, a US-based online grocer that it acquired late…
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12 April
Wilko launches tool and equipment rental service
Wilko has announced the launch of its new tool and equipment hire service, Wilkohire, which aims to make handling jobs ranging from quick fixes to big renovations “easy and affordable”. The service, which is operated in partnership with easyToolhire, is live as of this week and will give customers the…
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12 April
Amazon invests over £600m in robotics and AI in Europe
Amazon has invested more than €700m (£600m) in robotics and AI-powered technologies across Europe over the last five years.By the end of 2024, the company’s European Operations Innovations Lab in Vercelli, Northern Italy, will have been responsible for the installation of over 1,000 pieces of new technology throughout Amazon’s European…
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Mar- 2024 -21 March
Alibaba records rise in SME buyers at March Expo 2024
Alibaba.com has recorded a positive rise in the number of active B2B buyers from the UK at this year’s March Expo 2024. March Expo, which is Alibaba.com’s flagship online trade show, aims to connect buyers and sellers from around the world, helping them to discover new products, services and possibilities…
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21 March
Temu revenues double to £27bn in FY23
Temu owner PDD Holdings has reported total revenues at the discount e-retail group hit ¥247bn (£27bn) in the full year to 31 December 2023, nearly doubling from ¥130bn (£14.2bn) in 2022. The group attributed its financial performance to its marketing efforts, which led to more transactions. As a result, operating…
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18 March
Naked Wines drafts in advisors to explore refinancing options
Naked Wines has reportedly drafted in debt advisers to explore refinancing options after the group was hit by difficult trading conditions, Sky News has reported. According to Sky, the wine retailer has hired Interpath Advisory to help it explore its options after the group started losing investor confidence. Shares in…
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4 March
Retail records fifth consecutive month of negative sales, BDO finds
Total in-store and online sales have dropped -1.3% in February, marking the fifth consecutive month of negative sales results, according to new data from BDO’s High Street Sales Tracker. BDO’s data, which looks at sales across discretionary spend categories, showed that despite online sales growing by +2.9% compared with last…
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Feb- 2024 -22 February
Secret Sales FY23 sales rise 85% amid European expansion
Secret Sales has achieved an 85% rise in sales during 2023, as it continued its strategic expansion, and brand and retailer partnerships. During 2023, the retailer accelerated its European growth by entering Spain and Ireland, as well as extending its global reach to five regions and adding 250 new brands…
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