Shopify releases State of Commerce Report to share “global insights”
Online retail specialist Shopify might know more about the ins-and-outs of shopping than any other business operating today. Not only does the company facilitate online retail environments for its customers, but it also provides integrated offline shopping payment systems, original research into retail, and more. Now, it’s releasing its most comprehensive report yet: its first ever State of Commerce Report.
Shopify’s share price has appreciated by an incredible 128% year to date!
Source: Yahoo Finance
Shopify’s new report addresses the forces driving direct-to-consumer commerce and buying behaviour. The company states that, over the last year, the retail landscape has shifted dramatically. As some businesses and consumers have found new ways to buy and sell goods, Shopify wants to share the insights from this disruptive period with its customers, hopefully letting them leverage the benefits possible in this new retail environment.
Harley Finkelstein, Shopify’s chief operating officer, said: “It’s our mission to make commerce better for everyone, and we developed this report to share global insights that can help merchants better understand the needs of their customers. At Shopify we’re inspiring the next wave of independent business owners with the tools and insights they need to succeed. We'll continue to share more of these reports as Shopify becomes the default platform to build a business and drive commerce globally.”
Some of the insights included in the report are the importance of cultivating brand loyalty to earn repeat buyers, a global drop-off in shopping during February, a ranking of the most-frequent shoppers by nationality (America comes top), and the correlation between means of purchase (mobile, tablet, or desktop?) with geography.
Dominion holds Shopify in its Global Trends Ecommerce Fund.
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