Ahold Delhaize subsidiary Bol saw sales rise by 1 % to 1.4 billion euros in the first quarter. The webshop is gaining market share, but sees a slowdown in sales from third-party vendors, due to increasing Chinese competition.
Market share gain
As part of parent company Ahold Delhaize’s excellent quarterly results, webshop Bol (formerly bol.com) announced its own sales growth of 1 %. This is due to its own sales, as it is remarkable that sales at third party sales partners are lagging behind.
In a conference call Wednesday morning, the group blamed this on “imports from China” – in other words on increasing competition by Temu and the likes. According to Barclays analysts, the e-commerce player is the first to acknowledge the impact of Chinese competition this explicitly.
Bol does continue to gain market share, though: the company told Twinkle that growth comes mainly from the advertising branch – which grew by a third – and from logistics services (+ 10 %).
