In the financial year 2023/2024, the whole European online cross-border market achieved sales of 326 billion euros. A large majority, 69 percent, or 225 billion euros came from online marketplaces.

Spending at major British online retailers was 3.2 percent higher in September than in the same month last year. This marks the first growth since April 2021. After nearly 3.5 years, a turning point has been reached, just as in other European countries.

In Germany, small and medium-sized online stores often run on Shopify’s ecommerce software. The company has a market share of almost 40 percent in the country. German software providers Shopware and JTL complete the top three.

Unlike most European countries, local players generate the most online revenue in the Netherlands. The top 3 in online spending for 2023 is led by online department store bol. Supermarket chain Albert Heijn, a sister company of bol, takes second place, and electronics retailer Coolblue is in third. Amazon rises in the new ranking and claims fourth place.

The rumors had been circulating for a while, but now it’s official: Mytheresa wants to acquire industry peer Yoox Net-a-Porter from Richemont. This will create a “leading, global, multi-brand digital luxury group”, according to the involved parties. As part of the deal, Richemont will acquire a 33 percent stake in the rapidly growing Mytheresa.