Ahold Delhaize subsidiary Bol accounted for revenues of 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
On the sidelines of parent company Ahold Delhaize’s excellent quarterly results, webshop Bol saw sales rise by 1% to 1.4 billion euros. 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 & co. According to Barclays analysts, the e-commerce player is the first to so explicitly acknowledge the impact of Chinese competition.
Bol, incidentally, continues to gain market share. The company tells Twinkle that growth comes mainly from the advertising branch – which is up 30% – and from logistics services (+10%).