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Boost in China's Online Shopping

China has seen a boom in its online trade as customers in the world’s second biggest economy have resorted to e-commerce in the lockdown. According to Alibaba, Meituan Dianping, and JD.com, the earnings of the large shopping platforms have skyrocketed in China in the second quarter of the current year. Drivers from the mentioned online sites have busy time delivering a variety of goods and foodstuff to the customers across China. The pandemic has resulted in the growth of online businesses. The fast pace in the world of digitization indicates the customers’ switch form on-spot shopping to an online alternative. As the safest and most convenient way of shopping in the post-Covid era, electronic shopping is well received in China and perhaps many other countries as well. Samira H.
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By Samira Hassanzadeh on October 19, 2021

Etsy's Premature Profitability

Josh Silverman, CEO of Etsy Company, in an interview with CNBC on February 26 said it’s not clear what  2021 will be like pandemic wise but the company will generally outrun. He continued there was a dramatic growth in e-commerce last year, with a rise of more than 40% year over year; and Etsy managed to experience a huge growth. According to Silverman, the company has almost attained its target for 2023, earlier than scheduled, as the lockdown triggered e-shopping. During this time, new essential hygiene items including facial masks saw a growth, too. Last year, the New York-based company gained a total revenue $1.73 billion, over 111% year-over-year with an increased net income of 264%. In 2020, Etsy’s gross merchandise volume (GMV) rose to $10.28 billion, up from $4.97 billion a year earlier. After the pandemic, the lucrative company has helped the economy with its e-commerce. The online vintage and craft items supplier expects its revenue to reach between $513 million and $536 million in 2021's first quarter. Samira H.
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By Samira Hassanzadeh on October 19, 2021

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