The Commerce Brief: Fri 2nd May

Welcome to another exciting week in the world of eCommerce and retail 🛍️

🗓️ This week’s industry updates

🤖 ChatGPT Goes Shopping:
OpenAI is officially testing a shopping experience inside ChatGPT. While users will be redirected to merchant sites for checkout, they’ll be able to browse, get recommendations, and click buy buttons—all within ChatGPT. This marks a major step toward AI-assisted commerce. (source)

🍔 DoorDash Eyes Deliveroo Acquisition:
DoorDash has reportedly offered £2.7 billion to acquire Deliveroo, signaling a strong push to expand across Europe. The news sent Deliveroo’s share price soaring. (source)

💰 Tariffs Shake Up Ad Spend:
SHEIN has pulled all Google Shopping ad spend in the U.S., just weeks after announcing price hikes due to tariffs. According to Tinuiti, it recorded 0% share of daily Shopping ad impressions on April 26. Temu also recently dropped to zero. (source)

♻️ Vinted Revenue Climbs +36%:
Second-hand fashion is booming. Vinted reported a net profit of €76.7M (up from €17.8M), with sales growing to €813.4M in 2024—driven by affordability demand and European expansion. (source)

🛍️ Frasers to Relaunch MATCHES as "Soho House of Retail":
Frasers Group is reinventing the MATCHES brand into an exclusive members’ club, following last year’s IP acquisition and administration. Expect luxury retail with a social twist. (source)

💄 THG Revenue Down, Beauty Up:
THG (home to LOOKFANTASTIC and Cult Beauty) posted a -5% YoY decline in 2024 revenue, down to £1.94B, amid restructuring. Still, its beauty division grew +3.3%, hinting at category resilience. (source)

📦 PUMA Moves Up North:
PUMA Group is relocating its UK head office from London to Manchester as it prepares to open its first-ever European flagship on Oxford Street this Autumn. (source)

🩺 Boots Adds Menopause Zones:
Boots UK will introduce dedicated menopause sections in 150 stores this summer, alongside an expanded product range—marking a step forward in personalized wellness retail. (source)

👟 adidas Upbeat on 2024:
adidas maintained its full-year guidance after a strong Q1, with revenues up 13% YoY to €6.15B. A solid rebound following prior market challenges. (source)

📉 Primark Resets Focus:
After a -4% sales dip in the UK & Ireland (£2.1B), and a 6% decline in like-for-like sales, Primark is prioritizing product, digital, and brand investment to regain market share. (source)

🏋️‍♀️ Gymshark Profits Slip Despite Record Sales:
Revenue topped £600M for the first time, but profits fell as macroeconomic volatility prompted job risk warnings and strategic restructuring. (source)

The Commerce Brief