Around the Ecommerce world in 5 mins!

Ecommerce is changing everyday, and sometimes by the minute. So many new ideas and developments everyday, becomes hard to keep track.

We bring to you a curated digest of ecommerce developments/happenings around the world, compiled from various publications across the Internet.

PayPal revenues up in Q416

Paypal has reported its latest financial results for the fourth quarter of 2016 and it continues to grow strongly and results were in line with Wall St. analyst expectations for the period. Revenues clocked in at $2.98 billion in Q416 that’s up 17% on the same period in 2015. Earnings per share (adjusted) hit 42 cents and the total payment volume on PayPal was $99 billion. That’s slightly than some estimates of $101 billion but it’s nonetheless a 22% jump over last year.

Amazon grows sales 27% in 2016 and is increasingly profitable

It was a good year for Amazon.com Inc., which today reported its 2016 full-year and fourth quarter financial results. The e-retailer generated $136.00 billion in revenue in 2016, up 27.1% from $107.01 billion in 2015. Its net income also grew nearly 300% to $2.37 billion from $596 million in 2015. Excluding revenue from service sales, such as computing power and commissions paid by Amazon marketplace sellers, product sales totaled $94.67 billion, up 19.4% from $79.27 billion in 2015.

Alibaba buys MoneyGram for $880m

Alibaba continues to increase it’s global network with the purchase of US financial firm MoneyGram. The digital payments division of Alibaba, Ant Financial, the digital payments arm of ecommerce firm Alibaba, is buying MoneyGram for $880m. Ant Financial has more than 630 million users. Globally MoneyGram has 350k outlets in 200 countries. The deal is pending approval from the US Committee on Foreign Investment.

Amazon takes on FedEx, UPS in delivery

AMAZON isn’t content just being the “everything store.” Increasingly, it looks like it wants to be its own deliveryman, too. Its Monday announcement of a new air cargo hub in Kentucky is merely Amazon’s latest foray into building out its own shipping and logistics unit. If successful, the move could ultimately mean lower costs for Amazon — and possibly faster delivery and low prices for consumers. But it could also pit Amazon against package deliverers like FedEx and UPS.

Ikea Australia Expands its E-Commerce Operations

There won’t be any physical Ikea stores in Townsville, Cairns, Mackay and Rockhampton as residents will now be able to shop online, and have their items freighted by Ikea to local pick-up points. Last year Ikea launched into the e-commerce space In Australia, starting off with Tasmania in ACT, which excited furniture and homewares lovers around the country. Ikea’s multichannel manager Michael Donath says that whilst Northern Australia is one of the first places to get access to Ikea’s online shopping service, it will be rolled out nationally in the coming years.

 

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