Opumo, a British online department store with design-led products from around the world, has raised 1.2 million pounds (1.33 million euros). The successful round of investment happened thanks to Danish fund North-East Venture and a crowd raise from over 400 customers.
The United Kingdom
Meeting consumer demands for more environmental goods and services are the biggest challenge for marketers and supply chain managers in the United Kingdom and France. Remanufacturing products costs nearly 3.5 million per year in these two countries.
Ecommerce in the United Kingdom will account for 53 percent of the country’s total retail sales by 2028. Factors powering this online growth are the fact Generation Z and Millennials will be half of the adult population in ten years, faster, cheaper and in-home delivery and fewer physical stores.
The majority of UK retailers are not aware of the impact and value that delivery options have. Three out of four consumers leave their shopping card because they don’t like the delivery options, while 47 percent of retailer don’t even know their cart abandonment rate or why consumers leave their online store.
Amazon has announced the launch of Amazon Business Prime in the United Kingdom. The new service offers one membership for a company’s business account and gives access to Prime delivery benefits like unlimited one-day, same-day and nominated-day delivery.
Consumers in Europe think security is more important than convenience when it comes to paying online. But in the UK, the difference is quite small. Over half of Brits chose security, while 43 percent selected convenience.
Online supermarket Good Club from the UK has successfully completed a crowdfunding campaign to raise 400,000 pounds. The grocer has the ambition to become the world’s first zero-waste online supermarket. With the money, Good Club wants to try out reusable product packaging.
Henri Lloyd, a brand from the UK that’s specialized in sailing clothing, has relaunched its online store. This is the result of a digital transformation the brand has gone through since it was acquired by Aligro Group last year.
Boohoo Group has had a better year than expected. The online fashion retail group, with brands Boohoo, BoohooMan, PrettyLittleThing, MissPap and Nasty Gal, saw its revenue increase to 857 million pounds (962 million euros), which means an increase of 48 percent. Expectations are that Boohoo will pass the billion pounds milestone this year.
Many top retailers in the United Kingdom and Germany have a long way to go when it comes to customer centricity. A lot of major ecommerce companies in these European countries don’t meet the expectation of online shoppers, something which could damage loyalty and revenues.
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.
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.