Revenues for African e-commerce heavyweight Jumia slid by 10% in the second quarter, dashing hopes that lockdowns aimed at stemming the spread of the Covid-19 would lead to a flood of online orders.
Browsing: Retail and e-commerce
Amazon.com CEO Jeff Bezos sold shares worth $3.1-billion in the e-commerce company in recent days, regulatory filings showed on Wednesday.
Amazon.com on Thursday posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.
The Covid-19 pandemic has accelerated the adoption of e-commerce in a way no company could have imagined. Investors will find no shortage of newly energised investment opportunities. By Gerrit Smit.
New research from GfK suggests there has been a marked shift by South African consumers to online shopping, with most likely to continue using e-commerce, even after the Covid-19 pandemic ends.
Woolworths saw online food sales for its South Africa business leap 87.8% in the 52 weeks to 28 June as consumers turned the Internet and shunned stores amid the Covid-19 pandemic.
eBay has agreed to sell its online classifieds business to Norway’s Adevinta for $9.2-billion (R152-billion), ending one of the largest auctions of the year.
A $20-billion fund-raising spree may take India’s Reliance closer to its dream of becoming a digital giant, further threatening the plans of US companies such as Amazon.com, Walmart and Zoom.
Having long lagged behind much of the world in terms of e-commerce, South African retailers have been doing a roaring trade online as consumers shy away from shops during the Covid-19 pandemic.
Google has agreed to buy a $4.5-billion stake in Jio Platforms, the digital arm of Reliance Industries, adding to a series of large investments from the US into the online venture.