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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Mar- 2022 -23 March
Threads Styling secures $12m to further expand e-commerce offering
Threads Styling, the luxury chat-based shopping platform, has announced it has raised a $12m (£9m) fundraising round led by Highland Europe and C Ventures, with participation from BVYP and TriplePoint Capital. It said the funding will enable Threads to continue to expand its current product offering, allowing it to “service…
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18 March
Ocado lowers growth forecast amid drop in Q1 sales
Ocado Retail Ltd has announced its revenues dropped 5.7% year-on-year in the 13 weeks to 27 February 2022 (Q1) to £564.7m, and the group said that while revenue growth for the year should be in the high-teens, the forecast has dropped to 10%. The announcement comes amid uncertainties over inflation…
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15 March
Annual quest to find the UK’s fastest growing online retailers begins
Despite restrictions easing, the pandemic appears to have altered our shopping habits forever. The boom in online shopping during the coronavirus pandemic has seen many of us become increasingly more comfortable shopping online, with global e-commerce jumping to $26.7trn (£20.4trn). New data from Brightpearl, a popular operating system for retailers,…
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15 March
Good Food Group launches new digital platform
A new ‘match-making’ platform has been launched by food consultancy The Good Food Group in a bid to partner UK retail buyers with up-and-coming brands. The digital platform is designed to help “time-poor buyers and new brands find each other in a product discovery process”. The introduction portal is an…
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15 March
Virgin Wines earnings slip in H1
Virgin Wines has seen its EBITDA fall to £3.7m in the half-year ended 31 December 2021, down from £4.5m the previous year, as it grappled with changing consumer habits and rising costs across the business. The group’s profit also slipped slightly in the period, falling from £3.4m in H1 2021…
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14 March
Yoox Net-A-Porter unveils luxury menswear resale service
Yoox Net-A-Porter has announced the launch of its new dedicated luxury resale service for menswear, Mr Porter Resell, as part of the next phase of the company’s resale strategy. Yoox Net-A-Porter, which comprises Mr Porter, Net-A-Porter and The Outnet, launched the service to enable customers to resell their designer items…
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14 March
Retailers risk losing over £100m ahead of SCA regulation
Barclaycard Payments has revealed that merchants risked losing out on £102m worth of sales in February, as two-factor authentication checks ramped up for online purchases ahead of Strong Customer Authentication (SCA) regulation becoming mandatory on 14 March. A new in-depth study by Barclaycard Payments exploring readiness for SCA showed that…
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14 March
Ted Baker launches new website to boost online sales
Ted Baker has announced the launch of its new website in partnership with BigCommerce, an Open SaaS ecommerce platform, in a bid to boost online sales for the UK-based global lifestyle brand. With its new multi-storefront headless platform, Ted Baker will manage its global online presence from a single store…
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10 March
February shows signs of return to normal online spending patterns
Despite February’s year-on-year (YoY) online retail growth dropping even lower than the previous month’s record, there were signs of a return to normal spending patterns within the broader set of results, according to the IMRG Capgemini Online Retail Index. While February’s dip to -27% means it replaces January 2022 (-24.4%)…
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10 March
Boohoo eyes FY22 profits of £125m as sales surge 14%
Boohoo group plc has revealed it expects adjusted EBITDA for the 12 months ending 28 February 2022 (FY22) to reach approximately £125m, subject to audit, which is in line with prior guidance issued in December and market expectations. The announcement comes as Boohoo reported sales growth of 14% in FY22,…
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