Price Points by Omnia Retail

Online shopping prices saw a 1% decrease in January 2023, compared to prices during the same time in 2022. In a consistent trend with decreasing e-commerce prices, January became the fifth month in a row that...

Online shopping prices saw a 1% decrease in January 2023, compared to prices during the same time in 2022. In a consistent trend with decreasing e-commerce prices, January became the fifth month in a row that year-on-year online prices have dropped, according to the Adobe Digital Price Index. Major categories like such as electronics, computers, home appliances and garden products all experienced major price drops thanks to the impact of inflation on the consumer’s wallet, which has culminated in year-on-year (YoY) decreases. Computers saw the largest price decline, seeing a 15.8% drop; with electronics seeing an 11.9% drop. Home appliances decreased by 2.5% and home-and-garden products fell by 3.5%. Sporting goods saw 6.4% and books 3%. However, one category that has not seen decreases of late is groceries, which has seen a YoY 12.6% increase in January. Tools and the home improvement category have also seen an increase of 6.9%. These two categories, especially groceries, have continued to see consistent support from consumers, despite a change in purchasing decisions, including buying in bulk, waiting for specials, or changing to white-label brands.

During the peak of Covid-19, businesses around the world experienced the toll of the pandemic with either sky-rocketing growth or heartbreaking closures. The structure of national lockdowns and social restrictions meant...

During the peak of Covid-19, businesses around the world experienced the toll of the pandemic with either sky-rocketing growth or heartbreaking closures. The structure of national lockdowns and social restrictions meant that businesses, especially in retail, that had a primarily online business model thrived, gaining in revenue and hiring staff to meet their new demands. By early 2022 in the US, e-commerce transactions, as a whole, increased by 55% during the pandemic, increasing spending by $609 billion. Online businesses, marketplaces and web shops on the receiving end of this were growing exponentially and it seemed like this trend would continue upwards as economies recovered and social restrictions eased. However, by the end of 2022, reports of successful businesses having to downsize or close became more common, and by the first week of January 2023, e-commerce’s biggest name, Amazon, announced 18,000 planned job cuts. It would be the largest in Amazon’s history. Leading up to this, Bed Bath & Beyond had been experiencing disappointing sales and layoffs in 2022, culminating in 120 store closures published by the retailer by the second week of 2023. Meta, Facebook and Instagram’s parent company, cut 11,000 jobs in November last year, which was the first time the company has had to do so in 18 years. What has caused these closures and layoffs? How did businesses not gauge growth with caution? What can e-commerce stores and D2C brands do to curtail similar outcomes? Omnia looks to answer these questions and more.

When you think about all the times you received a gift that ended up in your storage cupboard for a few years, here’s a statistic that is sure to shock you: Each year, the UK spends approximately £700 million in...

When you think about all the times you received a gift that ended up in your storage cupboard for a few years, here’s a statistic that is sure to shock you: Each year, the UK spends approximately £700 million in unwanted gifts and about £42 million of that winds up in landfills. You may have thought about using that gift you received a few Christmases ago, but you can’t quite put your finger on when or how. Or, perhaps you’ve outgrown a beautiful leather bag from a previous season that’s collecting dust. Over the last decade, the resale market for pre-owned clothing and accessories has skyrocketed to levels that rival even the most popular of e-commerce stores. In Europe alone, the revenue for the resale market was €1.4 billion in 2021, with names like Depop, Vinted, Etsy, eBay and Vestiaire Collective becoming household names. In this article, we discuss who are the resale market’s biggest supporters, how the industry is growing globally, and why getting consumers to choose second hand is harder in the face of capitalism.