Shopify news and archive

Industry leaders comment on September retail sales growth

Retail sales rose by 0.3 percent in September and increased 3.6 percent by value and 4 percent by volume. Three industry leaders comment on the latest figures: Kris Hamer, Director of Insight at the British Retail Consortium, said: “September saw the strongest retail sales growth since January, and the highest sales volume since March 2022. This...

RetailFeatured

UK retailers set for holiday spending boost despite consumer caution

After a turbulent year for retail, Shopify's latest Holiday Retail Report brings welcome news for UK businesses. The UK is the only international market where consumers are expected to increase their spending significantly during Black Friday and Cyber Monday 2024. The report reveals a projected 21 percent rise in average spending per shopper,...

Business

Shopify posts strong Q2 results

Ecommerce player Shopify reported second quarter gross merchandise volume growth of 22 percent to 67.2 billion dollars. The company said that revenue increased 21 percent to 2 billion dollars, which translates into year-over-year growth of 25 percent after adjusting for the sale of logistics businesses. For the third quarter, the company expects...

Business

Target partners with Shopify to offer third-party merchants

US department store giant Target has established a new partnership with Shopify which will see some of the commerce platform’s own merchants added to the Target Plus marketplace. It marks the first time a mass market retailer has worked with Shopify on such an agreement, therefore expanding both the reach of Shopify and Target’s third-party...

Retail

Shopify unveils new AI-powered commerce features

Shopify, the e-commerce infrastructure provider, has unveiled a comprehensive update to its platform in its Summer '24 Edition, aiming to deliver a more unified and intuitive experience for merchants. The company is refining its services to meet the evolving demands of commerce across various scales, from entrepreneurs to enterprises. Deann...

Business

Shopify reports strong first quarter

Shopify’s first quarter gross merchandise volume (GMV) increased 23 percent to 60.9 billion dollars. Revenue also increased 23 percent to 1.9 billion dollars, translating into year-over-year growth of 29 percent after adjusting for the sale of logistics businesses. “Our outstanding Q1 performance is clear proof of our dedication to the new shape...

RetailFeatured

Shopify says retailers and consumers are accelerating climate-conscious shopping

Canadian e-commerce platform Shopify is increasing its efforts to combat climate change, emphasising the symbiotic relationship between commerce and environmental sustainability. As a corporate investors in long-term carbon removal initiatives, the Ottawa-based company says it has allocated over 32 million dollars to support 22 innovative,...

Fashion Featured

Shopify announces new tools, including AI powered search

E-commerce provider Shopify is introducing over 100 updates in its Winter '24 Edition, a biannual showcase of the latest products and innovations. These updates aim to enhance merchant productivity and creativity significantly. In response to the evolving search behaviors of customers, Shopify said it is launching Semantic Search, an AI-powered...

Retail

Record-breaking Black Friday, Cyber Monday sales with Shopify merchants reaching 9.3 billion dollars

Shopify has reported a record-breaking Black Friday, Cyber Monday weekend, with global sales reaching 9.3 billion dollars from independent businesses worldwide - a 24 percent surge compared to 2022. London emerged as one of the top three highest-selling cities globally for Shopify merchants during this period. In the UK, in-store spending saw a...

Retail

Shopify vendors set new Black Friday record, taking 4.1 billion in sales

Shopify merchants have set an unprecedented Black Friday record, collectively generating an impressive 4.1 billion dollars in sales, marking a substantial 22 percent increase over the previous year. The shopping frenzy peaked at 12:01 p.m. EST on Friday, with a staggering 4.2 million dollars in sales per minute. Harley Finkelstein, President of...

Retail

UK shoppers allocating more funds for Black Friday 2023 vs previous years, says report

Consumers worldwide are ready to spend on Black Friday Cyber Monday (BFCM) weekend, according to data from the Shopify BFCM 2023 Report. The report, which is derived from surveys of over 2,000 consumers and 1,000 SMBs in the UK, alongside global responses from 12,000 consumers and nearly 5,000 businesses across six nations, indicates that...

Business

Shopify and WPP join forces to help brands scale

Global marketing and communications company WPP has unveiled a strategic partnership with e-commerce giant Shopify to harness the power of its platform for enterprise clients. The collaboration aims to co-develop products, combining WPP's vast network of over 13,500 commerce experts with Shopify's platform to assist ambitious brands in achieving...