OnBuy, a popular cashback marketplace from the United Kingdom, has quietly begun its European expansion. The business reports 30 percent day-on-day sales growth in key European markets, with a rapidly growing backlog of retailers.
A new European regulation imposes strict requirements on products sales in the EU market. Many online stores and marketplaces sellers in the United Kingdom lack sufficient arrangements and have opted to stop selling to customers in the EU altogether.
Shopify now supports payouts in multiple currencies for European merchants. For many larger online retailers, this eliminates a key reason to operate multiple stores simultaneously or opt for alternative ecommerce software.
During September and October, average return values reached almost 127 euros (106 British pounds) in the United Kingdom. This was a 7 percent increase from the same period last year. It seems that consumers are returning more high-value products.
The number of sellers on TikTok Shop in the United Kingdom has doubled within a year. According to the platform, there are currently over 200,000 businesses active on TikTok Shop, “as brands take advantage of the revenue potential of live shopping and shoppable videos”.
Amazon is introducing new return policies in the United Kingdom on November 11. International sellers will be required to provide a domestic return address or issue a return label; otherwise, the customer will receive a refund without needing to return the item.
OnBuy, a popular pure marketplace from the United Kingdom, has announced its international growth plans. By the end of this year, the rollout of 'The Cashback Marketplace' will begin across continental Europe, with the United States following next year.
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.
Online fashion platform Asos has announced that it is introducing a return fee in the United Kingdom. However, the fee only applies to customers who, according to the platform, have a high return rate. Several customers of the online only store have voiced their anger on social media.
Vinted has rolled back a proposed update on shipping options after protests from sellers in the United Kingdom. The recommerce marketplace wanted to offer consumers more choices in receiving products, but merchants struggled with this increased freedom.
As of September 2nd, TikTok Shop sellers based in the United Kingdom will need to pay higher commission fees. The fees are being raised from 5 to 9 percent. However, if sellers reach a target number of TikTok Live and shoppable videos, they can reduce these fees.
Next reflects on a successful half year. The British retailer has revised its profit expectations upwards. While pure players Asos and Boohoo, also from the United Kingdom, struggle to maintain their online sales, Next continues to grow digitally, especially abroad.
Boohoo is launching an online marketplace, which is reportedly going live this week. Boohoo Brands will feature up to 200 labels in fashion, lifestyle, and beauty. It will be powered by Mirakl’s ecommerce software.
Ikea has opened its hundredth mobile pick-up point at Tesco, the largest supermarket chain in the United Kingdom. On this occasion, the Swedish furniture retailer announced plans to double this number. Almost 40 percent of Ikea's UK sales now come from the online channel.
Despite the rapid rise of Chinese platforms, Amazon remains immensely popular in the United Kingdom. The company has managed to maintain the number of monthly active users since the beginning of this year. Shein is growing, but Temu saw a decline in the number of users.