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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Jul- 2021 -27 July
Moonpig sees revenues double in FY21
Moonpig has seen its full-year revenues more than double, soaring by 113% to £368.2m in the year ended 30 April 2021, up from £173.1m the previous year, as it delivered 50.9 million orders over the period as customers increased their spending over lockdown. EBITDA also more than doubled in the…
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21 July
MySale returns to profitability in FY21
Online retailer MySale has welcomed a period of ‘excellent progress’ in the full-year ended 30 June 2021, returning to profitability with underlying EBITDA ahead of market expectations at A$4.2m (£2.3m), A$6.9m (£3.7m) from the A$2.7m (£1.4m) loss in FY20. While core revenue rose by 14%, group total revenue fell by…
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14 July
Online spending to hit £120.48bn in 2021
Following a surge in online sales in 2020, UK shoppers are predicted to further increase their spending of online purchases in 2021 to £120.48bn, according to the latest report by VoucherCodes.co.uk. The research showed that online sales will make up almost a third (30.2%) of overall retail spending, equating to…
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12 July
Nordstrom acquires minority stake in Topshop brands
ASOS has formed a joint-venture with Nordstrom, which will see the US department store chain invest in a minority interest of the Topshop, Topman, Miss Selfridge and HIIT brands. The UK online fashion retailer, which acquired the brands earlier this year, said the move will “help drive the growth” of…
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12 July
Klarna acquires shopping platform Hero
Klarna has announced the acquisition of the social shopping platform Hero, introducing the platform to its 250,000 retail partners across the world. The platform is reportedly designed to provide consumers with “inspiration, advice and immediately shoppable content produced directly from retailers’ physical stores”. Klarna said the acquisition would allow in-store…
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7 July
Boohoo owned Karen Millen secures new fashion director
Online retail group Boohoo, has appointed Lizzie Dawson as the latest fashion director for Karen Millen, Coast, Oasis and Warehouse. Prior to her move to Boohoo, Dawson worked at Topshop and Topman between November 2020 and February 2021 as a creative consultant. The group previously acquired the online businesses of…
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6 July
Victoria Plum partners with tree planting charity
Online bathroom retailer Victoria Plum has announced a partnership with Just One Tree to plant thousands of trees over the next 12 months. Each pound donated will fund the planting of one tree, as well as supporting the Barnet-based charity’s oceans project initiatives, which target mangrove and kelp regeneration. The…
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Jun- 2021 -30 June
Studio Retail profit soars 513% in FY21
Studio Retail has reported that profit-before-tax skyrocketed 513% in its financial results for the year ended 26 March 2021. The retail group revealed its plans to target a revenue of £1bn, after the online shopping firm posted profits of £41.7m, a rise from the £6.8m it posted in the previous…
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24 June
69% of young shoppers ‘shop and drop’ online, research finds
Around 69% of consumers aged between 18-24 “shop and drop” online by abandoning their shopping baskets mid-purchase, according to Barclaycard Payment’s latest research. This has resulted in retailers missing out on £6.5bn from Generation Z shoppers, compared to a £3.5bn loss among the over 65s. According to Barclaycard’s survey of…
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22 June
Amara partners with Women for Women International
Online retailer, Amara has announced a new partnership with non-profit organisation, Women for Women International (WWI). WWI helps women survivors of war rebuild their lives, by enrolling them on a year-long training programme. Through the charity’s Stronger Women, Stronger Nations programme, women form supportive networks and learn life-changing skills, such…
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