The COVID-19 period was a lucrative one for online retail. Economists and analysts around the world agree and the reported sales figures of online retailers across the board back the assumption. It was not only e-commerce giants such as Amazon or Otto who broke growth and sales records. From online supermarkets over fashion online stores to niche players – selling products
Pinduoduo: 113% growth in 2019
Chinese e-commerce player Pinduoduo announced their financial results for 2019. The fast-growing technology platform is one of the leading Chinese e-commerce players. The company's turnover in 2019 grew 113% compared to 2018. 2019 results Pinduoduo noted a total turnover of RMB1,006.6 billion ($144.6 billion), compared to RMB471.6 billion in 2018. The large increase of
Nike: 20% of turnover comes from online sales
Footwear brand Nike sees a sharp increase in its online sales during this financial quarter. The online sales grew 36%. This means that online now accounts for 20% of all sales of the brand. Overall revenue increased by 5.1%, to $10.10 billion. Nike has yet to feel the full impact of the COVID-19 virus on its sales, which might influence future numbers. The brand is
Global smartphone market to remain stable in 2020
Nearly half of the consumer budget for tech and durable goods in 2020 will be occupied by the smartphone. In a research study by GfK, it is concluded that this is a total turnover of €444 billion. The demand for smartphones is expected to stay stable in 2020, after a slight decline of two per cent in units in 2019. An estimated 1.37 billion smartphones will be sold globally.
PepsiCo buys Chinese Be & Cheery
PepsiCo, Inc. an American multinational food, snack, and beverage corporation agreed to buy Chinese snack brand Be & Cheery. It purchases the brand from local jujube maker Haoxiangni Health Food Co Ltd. According to the companies, the sale takes place for $705 million. The multinational food and beverage maker from the United States says the acquisition of Be &