Cross-border

The European online fashion and beauty market generated a turnover of 122 billion euros in 2022. And 45 billion euros of that turnover was cross-border. The market is projected to reach sales of 144 billion euros by 2026.

Ocado has returned to profitability on a group level. The British online supermarket and solutions provider reported a gross profit (EBITDA) of 16.6 million pounds for the first half of this year. According to CEO Tim Steiner, Ocado demonstrates 'the potential for our international ambitions'.

In terms of cross-border market share, compared to the total online market, Luxembourg is the top 1 cross-border country in 2022. Its cross-border market share is 80 percent. The country’s total cross-border turnover was 1.8 billion euros.

Consumers' pursuit of more affordable prices is fueling cross-border shopping behavior, according to a consumer study conducted by Worldline in six European countries.

The European Commission is planning to impose import duties on goods up to 150 euros, which are currently exempted. Brussels has previously abolished VAT exemptions. These measures strengthen the position of traders within the Union.

While other flash delivery companies are downsizing or merging, Wolt is expanding its coverage area. With its launch in Vienna and Reykjavik, the Finnish company is now active in 25 countries, almost all of them in Europe. Wolt delivers orders for both restaurants and retailers.

PDD Holdings has opened an office in the Irish capital Dublin. It concerns the head office, according to international news outlets, but the company itself vehemently denies this. PDD is the owner of the Chinese online platform Pinduoduo and the international ecommerce comet Temu, recently launched in six European countries.

During a plenary session, the European Parliament approved revised rules on product safety of non-food consumer products. According to the new rules, products from outside the EU can be sold on the market if an economic operator in the EU is responsible for its safety.

Cross-border ecommerce in Europe was worth 179.4 billion euros in 2022. This is an increase of 4.8 percent compared to a year earlier. In total, European online stores achieved a record-high turnover of 105.5 billion euros across borders, a 5.5 percent increase compared to 2021.

French ecommerce platform La Redoute has launched a dedicated and independent Dutch website and app. It is the first international site opened by the company in ten years. The company wants to reach a target of 26 million euros in sales by 2026 in the Netherlands.

London-based startup Kuai Commerce has raised 2.4 million dollars (2.22 million euros) in a funding round. The capital injection will be used to launch an ecommerce solution that helps European merchants to sell their wares in the East.

Leading ecommerce platform Shopify is launching Translate & Adapt. The tool, which works with Shopify Markets, offers localisation for merchants looking to expand to new markets. The new application is available worldwide as of this week.

The European online fashion retail market is set to grow 50 percent by 2025. The online turnover of this market will reach 175 billion euros, which equals 33 percent of the retail branch’s total. Cross-border marketplaces are the biggest drivers behind these growth.

Dutch fashion platform Otrium made considerable losses in the past year. The company is 50 million euros in the red. The year before, losses were at 8.4 million euros. This is mostly due to bonuses as well as further company expansion.

Chinese fashion retailer Shein is looking to expand in Europe. At the same time, the company’s value has fallen around 30 percent. Shein has been under scrutiny about its labor conditions and environmental impact.