Empowering Ecommerce Globally: The Shopify Success Story

Who would have thought a simple, straightforward ecommerce platform, originally designed to sell snowboards, would grow into one of the...

Who would have thought a simple, straightforward ecommerce platform, originally designed to sell snowboards, would grow into one of the biggest e-commerce solutions of all time? The Canadian ecommerce website builder had humble beginnings but has since grown to be used by hundreds of thousands of merchants in every corner of the world. With 6 offices and over 1900 employees, what started as a small mom- and pop-shop with less than a handful of dedicated founders has ballooned to a successful FinTech. No wonder that many Shopify reviews predict continuous growth that can empower an entire generation of entrepreneurs and businesses.

Here is the story and a few facts about Shopify and how it helps brands and businesses like yours, giving them a solution that is cost-effective and easy to implement.

Shopify History

As mentioned above, Shopify was created to be a snowboarding equipment sales site in 2004. The brainchild of Tobias Lutke, Daniel Weinand and Scott Lake, Shopify owes its creation to them not finding a satisfactory existing e-commerce solution on the market at the time. Lutke, a computer programmer by trade, decided to build his own ecommerce solution and the rest is history. Shopify, as we know it, was launched in its Beta version as Shopify in June 2006. By 2009 it was launched as an API platform, and by 2012 saw its users pull in over $1 billion dollars in revenue for the first time. In 2013, Shopify launched its very own payment gateway. Its biggest day, historically, was in 2015, when Amazon announced it would be closing its Amazon web store service and that merchant should migrate their sites to Shopify. The Amazon announcement caused the shares of the company to soar by 20%. Also, in 2015, Shopify went public with its first IPO (Initial Public Offering) on both the Toronto and New York Stock Exchanges. On its debut on the NY exchange, it saw an immediate jump of 60% in value over its initial IPO price.

How Shopify Works?

Shopify works by allowing anyone to make customized storefronts and sales channels online through their platform. With over 100 themes to choose from and customize, users are easily able to set up their stores. Furthermore, with the 1400+ apps currently on the Shopify roster, merchants can customize their stores and themes to have almost any function needed in the modern Internet marketplace. These apps also streamline marketing and sales funnels by adding promotional campaigns, social media sharing and a wide array of other features used to boost a sites engagement and overall performance.

Market Adoption Growth

Currently, there are over 400,000 active stores using Shopify in 175 countries. These merchants are expected to bring in over $34 billion in sales in 2017. Historically, over the past 5 years, Shopify has enjoyed a strong growth and adoption rate. In 2012, only 41,910 merchants were using Shopify, a year later that number more than doubled to 84,073 merchants. In 2014, Shopify adoption hit 144,000+ merchants and by 2016. Two years after that Shopify saw its usership balloon to 377l merchants. Shopify has thus enjoyed a steady growth rate in terms of adoption of nearly 100% year on year for a half decade.

In terms of revenue and shopper volume, Shopify empowered sites have enjoyed similar success. In 2012, merchants using Shopify brought in $1 billion in sales and by 2013, that amount had grown by 60% to $1.6 billion USD. Since then, sales have more than doubled year on year reaching over $15.4 billion in 2016. This year, more of the same is expected with Shopify expected to grow its sales volumes to over 34 Billion. These incredible growth numbers can be attributed to the high market adoption of E-commerce during this period as more and more people turned online for their shopping needs and the industry in general went through a boom for much of the past decade. This trend is only growing as more of the developing world gets online and adopts the e-commerce marketplace.

Top Brands Using Shopify

Many of the world’s biggest and most successful brands use the Shopify and make up its alumni. The Economist, a business publication, and Penguin Books both use Shopify to power their sales channels online. Red Bull & Budweiser are beverage manufacturers that use Shopify and even Tesla Motors uses it to power their e-commerce platform. Though the majority of Shopify’s 400,000 plus merchants are smaller businesses, they do have some of the biggest names in the market, which proves the diverse market acceptance of the platform, from the smallest home-based start-up to million-dollar super brands all using Shopify to power their e-commerce.

Shopify is one of the key players in the world of e-commerce and online businesses and more importantly has empowered an entire generation giving them tools to push for success online. Shopify is a true success story and one of the world’s first FinTech. Furthermore, many of the most successful brands and businesses owe their rise in part at least to Shopify.

Now Let's see a beautoful infographic on Shopify Success Story:
shopify succes story - infographic



Vyas Infotech: Empowering Ecommerce Globally: The Shopify Success Story
Empowering Ecommerce Globally: The Shopify Success Story
Vyas Infotech
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