Shopify news and archive

UK ranks fourth globally in Shopify Entrepreneurship Index

UK entrepreneurs within Shopify's ecosystem generated 28.8 billion pounds in business activity and contributed 14.3bn pounds to GDP in 2022. The index, conducted in partnership with Deloitte, offers real-time insights into entrepreneurship and is based on data from millions of entrepreneurs and IMF, OECD, and World Bank data. UK businesses grew...

Retail |INTERVIEW

Shopify at Shoptalk Europe: 'Commerce is no longer purely a buy and go transaction'

Shopify is a Canadian e-commerce platform that offers accessible e-commerce solutions for businesses that rely on it to build their e-commerce and sell online. Merchants, as Shopify calls them, can connect different channels such as their own physical and online shop or social networks, thus going the omni-channel route. Although the idea of...

Retail

Shopify to cut 20 percent of workforce, sell logistics business

Ottawa - Ottawa-based Shopify announced Thursday it was cutting its global workforce by 20 percent and offloading its logistics business to Flexport in order to focus on its core e-commerce activities. In a memo to its more than 11,000 staff, company founder and chief executive Tobias Lutke said: "We are changing the shape of Shopify...

BusinessFeatured

Shopify sees growth opportunities in larger retailers

Shopify, the e-commerce platform that allowed millions of small businesses to sell on the web without so much as requiring basic coding or html skills, is channeling its next stage of growth by targeting a bigger fish. On Tuesday Shopify launches its latest brand offering: Commerce Components by Shopify, a composable stack for enterprise retail....

RetailFeatured

Shopify reveals new records for Black Friday Cyber Monday with 7.5 billion dollars in sales

Shopify merchants saw Black Friday and Cyber Monday (BFCM) sales soar to 7.5 billion dollars, the highest on record. High street and in-person shopping grew 24 percent with POS sales made by Shopify UK merchants, but it was mobile shopping that saw 75 percent of transactions versus 25 percent on desktop. Fashion was the top category, followed by...

Business

Shopify shares soar after e-commerce platform beat expectations

Shopify this week released stellar third quarter earnings, seeing a 22 percent increase to 1.4 billion dollars compared to the prior year. Its shares soared as result, after it beat analysts’ forecasts. Harley Finkelstein, Shopify President commented: “Shopify is the central nervous system that powers millions of businesses around the world....

Business

EU says Shopify will update practices to ensure safer online purchases

The European Commission has said that Shopify, an e-commerce tech company, has pledged to make shopping safer for customers with several improvements that fall in line with EU regulations. It comes following discussions that had launched with the platform in July, which were carried out after a string of complaints were made by consumers in...

Business

Shopify sees demand surge for physical retail services

The shift to omni-channel retailing has brought it with new solution providers who cater to both e-commerce and physical sales. Shopify, the erstwhile digital platform, is becoming a key player in the global omni-channel market. When retailers had to shift to digital sales during the pandemic, Shopify’s business soared with new customer...

Business

Shopify introduces new staff compensation plan to incentivise team

E-commerce tech platform Shopify has announced the implementation of a new staff compensation plan designed to uncomplicate the process behind rewarding employees. Entitled ‘Flex Comp’, the approach will focus on three key elements each designed to “define the future of compensation”, the company said in a blog post. The first, ‘Agency’, allows...

Report

Shopify appoints new COO and CFO

Canadian e-commerce giant Shopify has announced key changes to its leadership team. Kaz Nejatian, the company’s vice president of product, has been promoted with immediate effect to chief operating officer. He will also retain his position as VP of product. Nejatian succeeds Toby Shannan who will serve as a special advisor through the end of the...

Business

Virtue social impact app closes pre-seed round

Virtue, the social impact app that can be added to Shopify sites to allow retailers to partner with causes, has closed a pre-seed round led by SFC Capital to accelerate and has also joined the Techstars accelerator. The Virtue App launched as an easy-to-integrate widget on Shopify in 2021 and has been used by more than 600 stores in the UK to...

Business

Shopify merchant growth plateaus according to new research

Businesses could be moving away from Shopify’s platform after being impacted by rising costs and a decrease in consumer spending, according to research carried out by YipitData. The report, which was shared through Reuters, found that the e-commerce platform had only added 71,000 global merchants in the first half of 2022, a far cry from the...