This content was created by Vinny O Brien. This content was uploaded by Vinny O Brien. This is a YouTube video titled "The V Spot Retail and eCommerce Weekly News Friday Week 23" (published June 10, 2023). It is a single-host weekly retail/ecommerce news roundup in which the presenter (a reporter/host) summarizes stories about Shopify's conversion claim, Amazon B2B growth and revenue, JD Sports' record profits and growth plans, and Screwfix's new quick‑commerce offering, and closes with notes about upcoming podcasts and in‑person events.
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Hey folks, happy Friday! It is Retail Week 21, it's summer season, so it's time for summer shirts. And first up this week, we have Shopify, the gift that keeps on giving. Yesterday, CEO-cum-CMO Harley Finkelstein announced that Shopify have the most successful shopping cart in e-commerce. It converts 36% better than the next nearest competitor. Being the skeptic that we are, we thought that that reeked a little bit, reeked a little bit like Sex Panther. 60% of the time it works all of the time. Next up, we got Amazon. Next up, we got Amazon. This week, George Westcott called bull on our bear status on Amazon B2B. Amazon B2B has grown significantly over the last number of years with huge headroom for growth. It's Amazon Advertising that gets all the headlines these days, but Amazon B2B has delivered over $35 billion in revenue in the last 12 months. That is on par with the advertising giant. Watch this space to see, do we turn from bear to bull or vice versa? We're not even sure what we said in the first place. Thank you, George, for pointing that out. And next up we have JD Sports. This week the sportswear giant posted incredible results and confirmed themselves as not just the king of trainers but the king of all things sports fashion. They posted profits of over £1 billion for the first time in the company's history and laid out plans for future growth over the next 3 years. Really impressive stuff from the players. DIY retailer Screwfix this week launched their quick commerce proposition in the UK. 30-minute pickup and 1-hour slots were the two things that they added to their now impressive arsenal. Proof that if you get the nuts and bolts right, anything is possible. And yes, we do have a good pun here. And that's a wrap for Retail Week 21. Look out for me on some podcasts over the weeks ahead, and I'm going to be doing some in-person events over the month of June across Ireland and the UK. The most common comment that we're getting these days is, "You're a lot taller in person." This reporter is 6 foot 2.
