Data: As ecommerce sales retreat, has the Covid online boom finished?
With the news in recent weeks that Amazon has swung to a loss and Shopify has sacked one in 10 employees, new data shows that the ecommerce boom seen during the pandemic may finally be coming to an end.
Late last week, Canadian ecommerce firm Shopify announced it would be losing 1,000 employees – a tenth of its entire workforce – to redundancy after founder Tobi Lütke said the business made the “wrong” bet on the long-term growth of online retail post-pandemic.
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