Forbes recently interviewed eShopWorld CEO Tommy Kelly and covered the company’s phenomenal growth up to and including during COVID, where year on year sales showed growth of 110% and some countries showed over 330% growth. The article covers cross-border expansion, seasonality, digital-first strategy and sustainability.
From the original article on Forbes:
U.S. retailers weary of the COVID-19 pandemic’s chilling effect on business might consider overseas markets for growth, according to cross-border commerce specialist eShopWorld, which plans in 2020 to double to 1 billion euro the combined gross merchandise value of brands on its platform.
Massive layoffs and furloughs related to the pandemic sent consumer spending plunging a record 34.6% in the second quarter, while tourism to major U.S. cities has slowed to a standstill, leaving brands uncertain about retail’s near-term domestic prospects.
EShopWorld, the largest cross-border ecommerce provider, said its platform in June posted record global apparel and footwear sales for the third consecutive month, 110%, and 133%, respectively. The top countries for growth during the full month of June were Chile, up 339%, Mexico, 227%, and South Africa, 175%.
“As countries begin to recover from the coronavirus pandemic at varying rates, U.S. brands are finding sources of growth in multiple international markets,” Tommy Kelly, CEO of eShopWorld, told Forbes. “For the most part, a lot of countries are opting well. Digital commerce can continually operate in a COVID-19 pandemic environment. Physical retail is much more restricted. Big cities close quickly. Footfall in New York City will change, and it will be a big challenge for retailers to get it back to where it should be.”
The full article can be found here.