What is Shopify?
Shopify is multinational e-commerce platform for online stores in which people can utilize the website to create online stores for their businesses. Anyone is able to purchase a plan of theirs to have access to the many tools that Shopify offers to create a website for their store. Within their services they have many capabilities when creating an online store because you can customize and make the website your own unique way. Shopify was originally launched in 2006 and have grown into a multibillion dollar company with millions of users around the world. Many people have used Shopify to create jobs for themselves and live off their stores from Shopify that’s just how much force Shopify has, but also why it thrives. Being able to create an online store easily and make it good looking is almost half the battle when creating a business. Especially since today more and more people are on the internet and are socially connected, this inclines people to do more online shopping. But how did Shopify grow to be one of the biggest companies to reimagine online shopping? For this we have to look at where Shopify has thrived and the unique opportunities that have landed in their laps.
Shopify’s Growth
Shopify’s revenue has grown tremendously over the last few years due to a plethora of reasons. One of the biggest causes to its growth was the pandemic because online shopping had increased substantially. Everyone couldn’t leave home and what else is there to do at home for hours on end than to go online and possibly shop. During this time period over the course of the last two years Shopify’s revenue has increased over five times the amount it was pulling in since 2018. During the pandemic “Dropshippers” flushed the market to try to get rich fast which also boosted their revenue and success tremendously. Dropshipping is when someone creates a website selling a company’s product through their website without holding inventory. Dropshippers sell an item for a price they desire which typically covers the cost of buying it from the manufacturing wholesale price and gets money in return depending on their profit margins they set. Other factors that contributed to it was their impeccable customer support and their analytics page for their users. Whenever the users had a problem they have a FAQ ready to help easy fixes and operators helping customers all times of the day with their stores. Customers also get to see analytics of their store whether it be sales, conversions, or page views so this helped business owners on Shopify learn what they did right one time or how to avoid other pitfalls.