July 2023 E-Commerce Digest: Amazon Prime Day, Gen Z shopping trends, and H&M’s offering expansion
The past few weeks have been filled with exciting events in the world of e-commerce, and we couldn't let them pass unnoticed. From new data on Gen Z shopping trends to record-breaking sales on Prime Day, Membrace has compiled the most important news in our latest issue of the Monthly Digest. Read on to stay in the loop!
- A data-driven analysis from Insider Intelligence shows that Gen Z prefers to shop on Instagram, while the general population prefers Facebook. Within the same age group, nearly half (48%) of shoppers find new beauty products via TikTok, compared to just 19% of all adults.
- Amazon broke records and neared $13 billion in Prime Day sales. At the same time, other retailers didn’t see as big of a boost to traffic this year.
- Amazon and eBay are losing mobile app users to Shein and Temu, Chinese-made shopping apps. Shein saw the number of users double in recent months from one to two million, while Temu managed to attract 3.5 million users per day just one month after the British introduction.
- The six biggest e-commerce markets in Europe generated 72 percent of the total European spending last year, as revealed by the recent report by CBRE. These six markets are the UK, Germany, France, Italy, Spain, and the Netherlands, with the UK and Germany dominating the online spending.
- H&M expands its marketplace offering, planning to include more third-party brands. The company has already worked with several external brands, such as Arket, Cos, and & Other Stories, which contributed to its turnover growth of 9%.