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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Aug- 2024 -21 August
Asos shareholders approve new pay plan for execs
Asos shareholders have approved a new pay plan for executives with the group’s new Value Creation Plan (VCP). According to the company, the scheme aims to further align executive directors and the senior leadership team with its “ambitious growth plans”. Around 91.82% of shareholders voted in favour to amend the…
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21 August
Supermarket sales rise 5.5% amid summer holidays boost
Total Till sales at UK supermarkets has seen a 5.5% increase in the last four weeks ending 10 August 2024, up from 3.6% in the previous month, according to new data released by NIQ. This is the largest growth in Total Till sales recorded so far this year, which was…
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15 August
Amazon cleared for delivery drone trial
Amazon has been given permission from the Civil Aviation Authority (CAA) to trial drones beyond a human controller’s line of sight in the UK, paving the way for delivery drones. Kirkwall airport in the Orkney islands will be one of the projects, testing how drones and other aircraft might operate…
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8 August
Asos secures three-year Microsoft deal to expand AI use
Online fashion retailer Asos has signed a new three-year agreement with Microsoft in a bid to enhance its operations, efficiency and “data-driven” decision making. The news comes as Asos has already taken advantage of AI features integrated into Microsoft solutions, including process automation through Power Automate, Teams Premium, and Microsoft…
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5 August
TikTok Shop ups UK seller fees
TikTok has revealed that it is raising seller fees on its UK TikTok Shop platform from 5% up to 9% from 2 September onwards. Alongside this, the company will launch the Seller Missions programme, giving sellers the opportunity to reduce their fees if they create a target number of TikTok…
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2 August
Apple revenues rise 5% to ‘record’ $85.8bn in Q3
Apple has reported that revenues rose by 5% year-over-year to a “record” $85.8bn (£67.3bn) in the third quarter ended 29 June. Quarterly earnings per diluted share also hit $1.40 (£1.10), showing an 11% year-on-year rise. Tim Cook, CEO of Apple, said: “During the quarter, we were excited to announce incredible…
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2 August
Amazon Q2 sales fall short despite strong AWS growth
Amazon has seen net sales rise by 10% to $148bn (£116bn) in the second quarter, up from $134.4bn (£106bn) the prior year, though this was slightly below analysts’ estimates for the period. Its North America segment performed well over the period, with sales rising 9% year-on-year to $90bn (£71bn). International segment…
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Jul- 2024 -31 July
John Lewis launches retail media platform
John Lewis has announced a new retail media platform to help brands connect with customers shopping online. According to the group, the move will allow brands to create and manage their own campaigns via banner ads and sponsored product listings. It also offers users a clear dashboard showing exactly how…
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31 July
Vinted targets $5bn valuation with latest share sale
Online marketplace for second hand goods, Vinted, has reportedly launched a share sale that could value the business at as much as $5bn (£3.9bn), Sky News has revealed. It comes as a secondary stock offering was announced this month to investors. This would involve existing shareholders offloading part or all…
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29 July
Ocado boss plans to retain stake in M&S JV
Time Steiner, Ocado CEO, has reportedly announced that the group plans to retain its stake in Ocado Retail, its joint venture with Marks and Spencer (M&S), according to the Financial Times. In an interview with the FT Steiner said: “I don’t want to sell the other half right now, so…
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