The business-to-consumer ecommerce turnover in the United Kingdom is expected to reach over 200 billion euros at the end of this year. That would mean an increase of 14.6 percent compared to the situation last year, when ecommerce in the UK was worth almost 175 billion euros.
The United Kingdom
Sorted, a delivery software startup from the United Kingdom, has raised 17 million euros in a funding round that was led by Praetura Ventures and NVM Private Equity. This follows after a year of 400 percent revenue growth.
Online retailers who offer free delivery don’t seem to experience having more items returned to them. Although many consumers often don’t pay for delivery, when they do return purchases, most of the time it’s not due to free delivery.
Retailers in the United Kingdom expect 30 percent of all their ecommerce work to give them back no value. Most retailers are facing some sort of ecommerce challenge. Customer retention, customer experience and measuring metrics are among the most important challenges.
Farfetch has introduced Farfetch Second Life: a new initiative to give designer bags a second life. Customers can exchange their beloved handbags for credit they can use to fund future purchases on the online fashion store.
Checkout.com, a London-based provider of online payment solutions has raised 230 million dollar (206 million euros). It’s Europe’s largest fintech Series A round ever. It’s the first time the payment solutions provider is taking funding from outside investors.
Zalando is introducing shipping costs in the United Kingdom, Ireland and Spain. The German fashion giant has taken this step after an earlier test in Italy. Although Zalando claims there are no plans to further expand this measure, it seems like the end of an era.
Parcel delivery group DPD has partners with Electric Assisted Vehicles (EAV) to develop a lightweight four-wheel e-cargo bike. With these bikes, DPD will start delivering parcels to consumers in July later this year.
The largest online retailers in the United Kingdom aren’t so keen on communicating with shoppers during the delivery period. As a matter of fact, only four of the 100 largest online retailers in the country provide customers with personalized information about their order status, while 27 don’t communicate at all during delivery.
Payments provider Square has announced the launch of Square Online Store for sellers in the United Kingdom. This allows small and medium-sized enterprises to sell both online as offline, with a free starter plan.
The Chartered Institute of Logistics and Transport has compiled a list with the top 30 logistics and service providers in the United Kingdom. Spoiler alert: DPD Group is the number one. But who are the other top logistics companies?
Asos is done with online shoppers who turn out to be serial returners. The UK fashion retailer doesn’t want customers who wear their purchases and then return them, or customers who order and return way more items than ‘the most loyal Asos customer’ would order’. Asos is now threatening to deactivate these accounts.
The Delivery Group announced it has acquired independent postal management provider Onepost. It’s unknown how much the UK postal and ecommerce operator paid for Onepost, but it will bring together two major players in the British mail and ecommerce sector.
Fidelity National Information Services, a major financial service technology company from the US, has announced it will acquire Worldpay for over 30 billion euros. It’s the largest deal to date in the quickly growing electronic payments industry.
Most online shoppers would order more in the long-run if an online retailer offers free returns. And a significant 84 percent of shoppers won’t even come back to a store if they’ve encountered a poor returns experience.