Tractor Supply Reports Triple Digit Ecommerce Growth, eBay Q2 Sales Grow at Highest Rate in 15 Years and Volkswagen Builds Marketplace to Push Digital Manufacturing
Tractor Supply Reports Triple Digit Ecommerce Growth
Tractor Supply reported second quarter net sales growth of 35% to $3.18 billion, up from $2.35 billion from last year. The company also reported a 30.5% increase in comparable stores sales and triple-digital growth in ecommerce sales. "Amid an extremely dynamic and uncertain environment, the Tractor Supply team is executing at a very high level," Kurt Barton, Tractor Supply's CFO said in a statement. "Against this backdrop, we are focused on supporting our team members, customers and communities and being excellent long-term stewards of the company," he added.
What stood out to us? The ability to purchase Triple Crown equine feed on a subscription was the key to growth. Neigh!
eBay Q2 Sales Grow at Highest Rate in 15 Years
EBay Inc. is another example of an ecommerce merchant benefiting from more consumers shopping online as a result of COVID-19. The gross value of goods sold on eBay’s U.S. marketplace grew 34.6% to $10.49 billion from $7.79 billion in the second quarter which ended June 30, the company reported. Global GMV reached $27.13 billion in Q2 2020 from $21.48 billion in the same period of 2019. Global GMV, including its U.S. and international marketplaces, grew 26.3%, the quarterly growth rate for the marketplace in 15 years. “The growth in volume was primarily driven by consumer behavioral shift to online shopping, which brought more buyers to the platform, who on average spend more per buyer than in the past,” interim chief financial officer Andy Cring said on a call with investors discussing the results according to SeekingAlpha transcript.
What stood out to us? More consumers shopping online as a result of COVID-19, the great accelerator of the digital economy.
Volkswagen Builds Marketplace to Push Digital Manufacturing
Volkswagen AG, Europe’s biggest automotive manufacturer and the maker of VW, Audi and other vehicles, sees a digital marketplace as an ideal way to bring together buyers and sellers of software applications and move the entire process of digital manufacturing even further into the mainstream. Volkswagen, in conjunction with Amazon Web Services, is building what it bills as the “ultimate app store” for industrial software applications. The store will make available from multiple automotive industry suppliers software apps designed to increase speed and efficiency in developing parts and manufacturing vehicles at the car maker’s 61 production plants and factories around the world.
What stood out to us? Just bought the URL Volksmarketplace.com! Booyah!
In the headlines
- Earnings roundup: Google falls for the first time ever.
- Coronavirus strategy: Gap Inc. pushes into B2B ecommerce.
- Over the top: Overstock's sales get a 109% boost from pandemic shopping.
Before you go
Global cross-border ecommerce growing 21%.
Unilever grew ecommerce by 30%.
The cost of fraud is up 7% for U.S. merchants.
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