The fight of the titans! E-commerce news by Nabil
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The big news of the week is the acquisition of Postmates by Uber for $2.6Bln, the consolidation continues in the delivery space!
Also some important news from….
- Nike going all in with digital sales
- Amazon postponing prime day to October
- Lululemon purchase of Mirror
- Credicorp Financial institution moves into an e-commerce platform
- Venmo goes into e-commerce
- Justo raising $12M for online grocery growth
Uber, Postmates Agree on $2.65 Billion All-Stock Deal
A few weeks ago, Uber launched 2 new delivery services, it seems that the ride-hailing company created for a passenger is more and more focused on delivery services. With the growth of e-commerce and food delivery, this is certainly a highly promising business!
Read more about the deal HERE.
Lululemon explores in-home fitness
Lululemon purchase of Mirror is certainly a move to strengthen the digital experience and experience with the consumers to push online sales. The digital connection is becoming increasingly important for any brands. Being top of mind through multiple brands relationships and touchpoints in the digital world is complex. Successful brands have understood that you clearly can’t rely only on influencers & digital marketing to build long term relationship and loyalty with your consumers, you need more than that and this acquisition is a great move for Lululemon (especially in times of COVID as people are not yet comfortable to go to the gym)!!
Check out the in-home fitness experience HERE.
Nike plans to cut jobs in digital push
Nike is one of the most admired brands in the world and a clear leader (by far) in its core categories of products! When the leader of industry makes such an announcement, the others listen at it carefully (or they should at least)!! Nike CEO John Donahoe told analysts last Thursday that the company would now aim for online sales to account for 50% of its overall business, up from the 30% recorded in the reported quarter. Last year, I said in a conference that Ecommerce could represent 50% of retail sales worldwide within the next 5-10 years, some people said it was not realistic. Well now, with COVID19, it will most likely happen faster for many brands…
Learn more about the digital push behind the decrease of employees HERE.
Credicorp launches Wally-Ecommerce, the tool that seeks to digitize
Credicorp, a financial institution from Peru launched Wally-Ecommerce, a tool that will allow 5,000 SMEs to create their online store in 24 hours. In the last months, years, we saw many e-commerce giants entering the financial space (most recent significant was Shopify entering the banking space). This is the other way around, a financial institution going into the e-commerce software space! Interesting dynamics.
Check out Wally-Ecommerce HERE.
Venmo begins piloting ‘Business Profiles’ for small sellers
Venmo is going after small businesses to help them in Covid times. The mobile-payments app announced it’s piloting a new feature called Business Profiles, which offers small sellers the opportunity to have a more professional profile page on its platform. Sellers can share key business details like address, phone number, email, website and more, this is definitely the first move into building an e-commerce for goods & services linked to the payment functionalities.
Learn more about the „Business Profiles” pilot HERE.
Amazon postpones Prime Day until October
Many people ask me: ss the growth of e-commerce going to continue after COVID is gone! My answer is very simple: Absolutely!
One of the best indicator to know how impactful COVID is on e-commerce growth is by looking at the moves of Amazon. Postponing Prime Day to October is a clear sign that AMZN has such a huge growth already that they are not ready to get more!! Nice problem to have. Also, doing this event in October is a good idea, by that date, we can expect many brick & mortar retailers to make sales events to try to get people back into stores and that will give a huge weapon to AMZN to fight back with the future intents from retailers in the physical space!
Check out Amazon’s reasons for the delay HERE.
Start up of the week: JUSTO
StartUp Of the week: Jüsto Receives $12M Pre-Series A Round To Expand Internationally
Grocery is the fastest-growing category of e-commerce worldwide! People stuck at home are buying their groceries online! Great timing for Mexico City-based online supermarket Jüsto to raise $12 million to grow internationally. Jüsto saw five times growth in orders since the outset of COVID-19, and that’s just the beginning as the penetration for online grocery is very very small in LATAM markets.
Check out THIS article by Crunchbase about Jüsto.
Nabil Malouli is VP, Global E-commerce for DHL Supply Chain where he leads the innovation, strategy and product development of its e-commerce fulfilment and last-mile solutions.