Shopify has quickly come to dominate the online retail business space.

And its powerful performance has shocked Wall Street.

Here are 5 surprising things you should know about how it has achieved this …

#1: The historic pandemic/lockdown/recession online boom

Before the pandemic, there were 300 million online buyers.

15% of retail was online.

Then, when businesses were forced to close their doors, and consumers forced to stay home, people didn’t just stop spending. Rather, they changed the way they spent … turning online to get what they needed … and since lockdowns and restrictions were eased, those new spending habits seem to be here to stay.

Online operations and sales have boomed. More than 30% of retail is now online. That’s more than 10 years’ worth of growth in just three months.

Shopify is helping that happen …

And there are still 47 million small businesses that aren’t using it yet.

#2: Sales Boom!!

The company’s numbers are great.

It’s sales are up 120%!

Monthly recovery revenue was up 21% from a year ago.

And all revenue was up 99% from just the second quarter, hitting $714.3 million

#3: What Shopify does for retailers & consumers

Shopify helps retailers with everything they need to become an online marketplace:

  • A landing page
  • Shopping cart
  • Texting – new SMS integration
  • Curbside
  • Gift cards
  • Instant payments
  • Credit card processing
  • And much more.

It is a seamless, one-stop shop.

For consumers, although most don’t know if the online store they’re using is supported by Shopify, it gives them the ability to support local businesses and entrepreneurs at a time they need the support most.

This has created a “tale of two retails” … the brick and mortar retail stores that are collapsing in a steady stream under the economic disruption … and online retails stores that are seeing the best sales ever.

#4: It’s not just something for small businesses

Shopify is much more than just a solution for small businesses. It boasts some countless big customers as well, including the likes of …

  • Red Bull
  • Heinz
  • Budweiser
  • Pepsi
  • And Nestle

This list is under constant expansion.

#5: Recurring sales

The company’s model is good. For small businesses, it’s just $29 a month, which averages out to about $1,650 per year per customer.

Shopify Plus, for larger retailers, is $2,000 per month, bringing in $12,000 per year.

Shopify’s accomplishments before the pandemic and since, are noteworthy and admirable.

Watch this brief, two-minute interview with Harley Finkelstein and Maria Bartiromo as they discuss the company’s boom.

 

 

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