The August edition of eCommerce news is packed with breakthrough earnings, massive fundings, and higher social media marketing capabilities. Read on to explore some small yet significant developments in the world of eCommerce.
Shopify’s Q2 earnings went through the roof with a 75% year-on-year revenue growth and 500,000 customers across 175 countries.
Shopify’s gross profit grew by a staggering 83% to USD 86.8 million as opposed to last year’s Q2 earnings that stood at USD 47.5 million. Read more here.
In a testimony to the growing German eCommerce market, Deutsche Post saw its revenue increase by 4.4 percent in the second quarter.
The second quarter of 2017 saw Deutsche Post, a German postal service and international courier service company, experience its seventh consecutive all-time quarterly high with revenue increasing to 14.8 billion euros. This massive revenue increase has been attributed to the German company’s eCommerce and parcel business. Read more here.
UK eCommerce giant, The Hut Group, acquired beauty subscription box, Glossybox.
After a 6-year run and raising $72 million from 4 investors, Glossybox has been acquired by UK ecommerce platform operator, The Hub Group, in an undisclosed deal. THG insists the move is a strategic one and that there is room to increase subscriptions to the beauty box. Read more here.
On-demand alcohol delivery service, Minibar Delivery, raked in a $5M funding round led by Corigin Ventures.
Minibar Delivery witnessed an increase of investment capital to $6 million after raising $5 million funding. Apart from an aim to penetrate new regions and marketplaces, Minibar also plans to create a lasting imprint in its existing markets. Read more here.
In a bid to make shopping easier, Asos added a search-by-photo option to its iOS app.
Asos, a UK based fashion eCommerce player, has launched a visual search feature to make online shopping more convenient and intuitive. The update will let users search for patterns and clothes via snaps or by uploading photos from their device. Read more here.
Facebook launched Marketplace across 17 countries in Europe.
Available only in the Facebook app, Marketplace can now be accessed by users in 17 countries across Europe by clicking on the shop icon at the bottom of the app. Facebook users can discover, buy, and sell items and search for items based on location, category, and price. Read more here.
Facebook set to introduce new features for marketers
In a move that will enable online marketers and creators to collaborate on branded content, Facebook is introducing new features to boost a creator’s post. The move is slated to amplify user content and attract more visibility. Read more here.
Resource of the month
This month we provide a nifty tool that makes customer support more interesting. Median is a platform that lets you view real-time site activity without a pre-requisite condition of installing the tool. Median enables support teams to resolve chat complaints faster make customer interactions a swift and convenient task. Sign up here to check out its soon to-be launched beta version!