Shopify: 4 Factors of Fast Growth

shopify

Recently, the widespread use of e-commerce and how brands offer their products and services for sale has become a leading issue of the platform called Shopify. Shopify emerges as a platform that defines itself as “the only platform that contains all the e-commerce and point of sale features you need to start, run and grow your own business” and enables us to witness a sudden rise from the day it appeared.

The e-commerce platform, which reached $ 1.5 million in revenue and more than one million stores towards the end of 2019, accelerates its rise every day.

Shopify’s recent statement is as follows: “Last year, 218 million people shopped from a store established on Shopify.” The e-commerce sector, which consists of elements such as subscription, showcase creation on social media and sellers that move the point of sale from physical stores to online platforms, makes services such as Shopify increasingly a necessity for consumers and digital marketers.

Shopify Guides Brands to Reach Their Customers:

In the last six months, Shopify has become a necessary service tool for small businesses, especially as a result of the forced shift of businesses to online platforms.

According to a recent Forbes article on the growth of the platform, “New stores created through Shopify increased by 62% during the quarantine period.

And the most surprising statistic is: Stores operating through Shopify managed to close approximately 94% of customer losses during the quarantine by selling online. ” And, “20% of small businesses put their products online for the first time in quarantine.” In line with this information, we share with you 4 interesting factors behind Shopify’s success.

1.Shopify Founders Set Up the Business They Want to Use

Although Shopify founders Tobias Lütke, Daniel Weinand and Scott Lakewere initially tried to open their own online snowboarding stores using other e-commerce platforms, they were so disappointed with the functionality of the services available for online stores and shop windows that they decided to set up Shopify.

By identifying the shortcomings in existing e-commerce platforms, the founders succeeded in establishing a platform with features that will benefit both their own platform and the vendors, where they can provide the vendors with the actual service they need.

Shopify’s services enable brands to do much more than simply create a showcase by giving them the opportunity to design their stores according to their own wishes and to sell as they wish over the internet.

2.Shopify Switched to Sequential Subscription

By 2007, Shopify switched to a robust and versatile sequential subscription service, and this business model helped the platform steadily generate revenue and scale its business. Businesses who want to use Shopify to open their own online store have the option to choose one of three tiers of service that will be suitable for small and medium-sized businesses that are just starting out or aiming to grow.

There are also monthly plans for those who stay on the other side of the spectrum – for large and high-volume businesses and small blogs that want an exit option.

3.Shopify’s Smooth and Various Payment Methods Offer the Hassle-Free Sales that Consumers Expect from Brands

Within Shopify, there are various payment methods that brands can choose from. These include the Shopify Payment system, which accepts most payment types. A brand can also opt for third-party credit card payment or hassle-free payment methods such as Amazon and PayPal.

Introduced in 2017, Shop Pay is the most seamless, “accelerated” payment method for customers shopping from brands on the platform. As a result, since its launch, Shop Pay has been used by 40 million consumers worldwide. Recently, the platform announced it would offer a “buy now, pay later” option, which could benefit sellers of high-priced products during times of economic turmoil.

4.App Downloads Are A Growing Sector of Business

According to shopify, Shopify’s Point of Sale (POS) application allows sellers to perform sales transactions in a “physical store or pop-up setting”. Find products, process orders, get paid, swipe credit cards, create receipts, and control them all from your iPad or mobile device.

POS transactions are a critical part of how Shopify enables brands to engage with consumers offline, and this can be especially important for small businesses.

According to TechCrunch, Shopify recently launched the Shop, which allows consumers to track packages from brands and vendors, as well as “browse recommended products, learn more about each brand, and shop using the one-click Shop Pay checkout process.”

The store is currently used by 16 million consumers.

 

E-Commerce Today, Active and Adaptive Brands Can Develop:

According to Forbes, “Online shopping has increased more in the last 12 weeks (since March) than in the last decade.” And most likely, many businesses that successfully move their businesses online will continue to optimize their online presence even after quarantines are over.

E-commerce platforms like Shopify can offer brands the tools they need to capture new consumers and drive lasting growth for new online businesses.

 

If you like this article, you can read the article named as Why you  should  use Shopify Blog.

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