Each week we gather the top three eCommerce news items of the week. Here’s what stood out for us this week!
Many retailers and brands have begun to ramp up e-commerce promotions, frequently with big discounts, in efforts to connect with customers and drive sales during a time of unprecedented uncertainty.
With customers just as unconfident about their futures as retailers, however, it’s not a sure thing that they will spend, regardless of how good the deals are. For retailers offering discounted products online, being able to get orders into the hands of customers in a timely fashion could be a key differentiator. Read the full article here.
On its third-quarter conference call Tuesday, Nike said its experience managing the COVID-19 pandemic in China has provided an “operational playbook” for “an expedited return to profitable, capital-efficient growth.”
Nike’s online sales have been accelerating in the triple-digits in recent weeks and increased more than 30 percent in the quarter, limiting its net decline in China to four percent. Read the full article here.
It is the strong belief of Paul Martin, UK head of retail at KPMG, that Covid-19 will precipitate a rapid increase in eCommerce activity. He discussed this during a panel discussion at this week’s Retail Transformation Live online event, saying: “Online is an increasingly important channel in the UK, and we know there is a penetration of about 20%.
It can be argued that the increase in online shopping over the coming weeks will, at least to some extent, accelerate the growth of eCommerce activity beyond the Covid-19 pandemic. Read the full article here.