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'Tis the season for shopping. While many big and small retailers have been promoting November as 'Black November' in the hope that month-long sales will help boost its business while also enforcing social distancing guides and avoiding overcrowded shopping, we can anticipate that e-Commerce businesses will be the true winner for the Black Friday/Cyber Monday shopping rush. NRF reports that holiday sales will grow between 3.6-5.2% up to $766.7BN and Digital Commerce 360 states nearly $1 in every $3 spent during this five-day Thanksgiving through Cyber Monday period will be from online purchases.
Here’s our list of some high growth e-Commerce companies to be on the lookout for!
Grove Collaborative is a subscription service seller of eco-conscious home essentials including the much searched for toilet paper, cleaning materials, and hand sanitizers. It is a certified B-corporation that has a very strong 1-year and 3-year CAGR.
Rothy's is a sustainable footwear company that turns water bottles into shoes. It’s 2018-2019 growth has been nothing short of incredible and could, perhaps, be attributed to Meghan Markle wearing them publicly in 2018. The environmentally conscious footwear company has expanded into handbags and the 2020 new norm, face masks.
Hyperice is the sore muscles solution for amateur and professional athletes. Since the original massage device retails for $399, year-end holiday sales will be a time when the device and other mini versions fly off shelves as gift ideas for the aspiring athlete. We’ve also shared some alternative performance tech solutions that compete with Hyperice.
For the travel-lusting
Away may have a bit of struggle this year as traveling was put to a screeching halt but this innovative luggage carrier brand has grown significantly over the past 3 years. Founded by Stephanie Korey and Jennifer Rubio in 2015 in New York, the company received a $35MM equity fund to help boost its business in June.
Small but growing
Nature's Fusion is a smaller family-owned e-Commerce company from Orem, Utah. It sells high-quality essential oils, perfect for de-stressing during a pandemic. Although its sales are small compared to the bigger startups, the company has managed to more than double its revenue every year for the past four years.
Thrifty shopping for essentials
Fetch Rewards is not entirely an e-Commerce company but its growth is directly correlated to how consumers purchase on the internet. Using photos of physical and e-receipts information mainly from supermarkets provided by its users to track consumer trends and offer tailored recommendations, the Wisconsin-based company awards points to the user which can be traded for gift cards at popular retailers. It also has an in-app option to purchase directly from their app and it earns money by contracting with the companies that offer the products.
Epic Games launches subscription service
A Fortnite Crew subscription is launching on December 2 as Epic Games reaches 350 million registered Fortnite players.
Germany requires companies to put women on executive board
In a move to close the gender gap, German Chancellor Angela Merkel agreed to the new rule on Friday for companies with more than three board members that one must be a woman.
Since last week, PrivCo has added: 1553 Companies | 159 Funding Activities | 102 M&A Deals