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Tag: Shopify

  • Shopify Projects Robust Quarterly Revenue Amidst Resilient Merchant Base And Steady Consumer Demand

    Shopify Projects Robust Quarterly Revenue Amidst Resilient Merchant Base And Steady Consumer Demand

    Shopify, the renowned Canadian e-commerce platform, has projected a positive outlook for its quarterly revenue. This forecast comes amidst no apparent reduction in consumer demand and the impressive resilience of merchants on the platform despite prevailing tariff pressures. This uplifting news resulted in a significant 20% increase in the company’s share values.

    Throughout early August, Shopify’s merchant base demonstrated remarkable fortitude, maintaining the steady growth observed in the April-June period. This resilience contributed to a 31% boost in the second quarter’s revenue.

    These results help to alleviate some of the anxieties investors have due to the fluctuating trade policies of the current US administration. These policies have left many retailers uncertain about several aspects of their business, including demand, production, sourcing, and operating costs.

    Addressing these concerns, Jeff Hoffmeister, Shopify’s CFO, reassured investors during a post-earnings call. He affirmed that demand from the US, both inbound and outbound, has remained steady. Furthermore, he noted that the platform had experienced growth across all merchant segments during the second quarter.

    Hoffmeister also highlighted the strong performance of sellers with an annual gross merchandise volume (GMV) exceeding US$50 million and those below the $2 million mark. In terms of pricing strategy, Shopify reported that many merchants have increased their prices, although no specific details regarding the extent of these hikes were provided.

    Despite the ongoing disruptive tariff situation, Shopify’s resilience and adaptation seems to be the current narrative. As noted by Third Bridge analyst Charlie Miner, greater clarity is emerging regarding consumer reactions, and Shopify is unlikely to be adversely affected.

    Shopify’s projections for the third quarter anticipate a revenue increase in the mid to high twenties percentage range. This estimate exceeds analyst predictions of a 21.54% rise, as compiled by LSEG.

    Additionally, Shopify’s ongoing investments in artificial intelligence-powered features are proving advantageous. These features aid retailers in various tasks, such as developing store websites, generating images, and collating sales data.

    Questions & Answers

    What is the projected revenue increase for Shopify in the third quarter?
    Shopify projects a mid to high twenties percentage increase in revenue for the third quarter.

    How are Shopify’s merchants responding to the ongoing tariff situation?
    Despite tariff pressures, merchants on Shopify’s platform have shown resilience, with many even increasing their prices.

    What investments has Shopify made to support retailers?
    Shopify has invested in artificial intelligence-powered features that assist retailers with tasks such as creating store websites, producing images, and gathering sales data.

  • Shopify has your back if you want to try the AI magic with a new image editor

    Shopify has your back if you want to try the AI magic with a new image editor

    Back in ancient times, supermarkets used to hand out paper brochures with the week’s top offers. Naturally, you didn’t pay much attention to the product image – you focused on the price.

    It’s only after you try to sell something online – and you need a cool product photo – that you realize there’s a thing called “product photography” and the eggs, ham or pineapple images didn’t just materialize out of thin air on the brochure’s pages.

    See, the better photo an offer has, the higher the chances for a successful deal.

    That’s why Shopify introduces a new tool to help out all who are selling products online. It’s an AI image editor that should aid users in creating more appealing and attractive images for their offers.

    Moving beyond the product-on-a-rug aesthetic can be challenging, and you’ll be surprised to see just how much money big companies spend on setting up dedicated product photography studios with expensive backdrops. Not to mention the cameras, lenses and manpower a brand has to invest in.

    Most people don’t have anything close to that, most people just have their iPhones and their bedrooms.

    The way Shopify’s AI editor will operate is you’ll upload an image of your product, and suggest certain edits that can be made to it. For example, if you have a picture of a pair of headphones, and you want to look like they are in the sky, you can upload the image and ask the AI to generate a background of the sky. Just like other image generators, this tool has different visual styles.

  • TikTok launches online shopping in the US

    TikTok launches online shopping in the US

    With over 150 million users in the United States, social media juggernaut TikTok, is embarking on a groundbreaking journey that could redefine the way we shop online.

    After months of testing, the platform officially integrates e-commerce into its social media ecosystem, offering users a unique blend of entertainment and shopping. The strategic move comes as TikTok aims to capitalize on the platform’s immense popularity and expand its business.

    Users will now discover videos and live streams in their feeds featuring clickable links that lead to product purchases, effectively transforming TikTok into a thriving shopping destination.

    The TikTok app also introduced a dedicated “shop” tab feature where businesses can showcase their products, complete with logistics and payment solutions, all integrated within TikTok.

    This strategic addition is expected to boost user engagement and drive sales as consumers can seamlessly discover and purchase products within the TikTok ecosystem in hopes of replicating the success of other Asian platforms like Shein and Temu in the US.

    As a way to create a versatile e-commerce ecosystem, the social media giant has strategically integrated its shopping services with several third-party platforms, including Shopify, Salesforce, and Zendesk.

    Overall, TikTok’s goal is clear: to empower content creators, brands, and merchants with the tools they need to create engaging and interactive shopping experiences and ease how customers make purchases on the platform.

    TikTok’s retail expansion comes amid scrutiny from governments and regulators due to concerns over data privacy and an alleged political affiliation with the Chinese state.

    With over 1 billion monthly active users (MAUs) worldwide, TikTok isn’t only focused on the U.S. and has since expanded its reach to multiple countries, including Thailand, Vietnam, Malaysia, the Philippines, Singapore, and the United Kingdom, with plans to reach $20 billion merchandise sales by the end of the year. This underscores its determination to leave a mark on the international e-commerce landscape.

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  • Shopify opens funding stream for Aussie online retailers

    Shopify opens funding stream for Aussie online retailers

    eCommerce platform Shopify has launched a new financing service for Australian businesses called Shopify Capital.

    Merchants who run their stores on the platform can receive offers of up to $2.5 million within two business days – once their applications are analyzed by Shopify Capital’s team using data-informed and machine learning models.

    The company says 67 percent of Australian merchants are deterred by high-interest rates and 53 percent are turned off by lengthy application processes and timeframes. Almost 40 percent of home-grown merchants sell internationally through Shopify Markets generating up to $39 million in economic activity.

    “Australian businesses are concerned about the increasing cost of capital, inflationary pressures impacting margins, and declining consumer confidence impacting sales,” Shaun Broughton, Apac MD at Shopify, said.

    “Shopify Capital is remitted only when a sale is made, so Australian merchants can be confident that they can afford to invest in their businesses.”

    Merchants repay funding based on an ‘agreed’ fixed percentage of daily sales helping reduce cashflow risks and uncertainty around compounding interest rates and hidden costs.

    Shopify Capital was first introduced in US, UK, and Canada in 2016. It has provided $5.51 billion in funding to thousands of businesses so far.

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  • Shopify data stolen by its own employees

    Shopify data stolen by its own employees

    Shopify has seen customer data stolen by “rogue” employees, the e-commerce provider announced.

    Two members of Shopify’s support team were engaged in a scheme to obtain customer transactional records of certain merchants – less than 200, according to Shopify.

    Once the business became aware of the scheme the team members’ access was immediately terminated, and an international investigation began with the assistance of the FBI and other agencies that will seek to find if, when, and where the data was used – if at all.

    “This incident was not the result of a technical vulnerability in our platform, and the vast majority of merchants using Shopify are not affected. However, those whose stores were illegitimately accessed may have had customer data exposed,” Shopify said in a statement.

    “This data includes basic contact information, such as email, name, and address, as well as order details, like products and services purchased. Complete payment card numbers or other sensitive personal or financial information were not part of this incident.”

    Shopfiy added that it has zero tolerance for platform abuse, and will take the necessary action.

    “To put it simply, we are committed to protecting our platform, our merchants, and their customers and will continue to work hard to earn your trust every day,” Shopify said.

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  • A Short Review Guide On Jared Goetz Shopify Ecom Hacks Academy 

    A Short Review Guide On Jared Goetz Shopify Ecom Hacks Academy 

    eCom Hacks Academy is an in-depth course for building your online business in Shopify. CNBC and Entrepreneur, Inc. featured its founder, Jared Goetz, in 2017 as he was able to earn 2 million USD in 60 days from his store. A lot of people are enticed by how Jared worked for only 30 minutes a day, which is included in the eCom Hacks Academy training. If it sounds too good to be true, check out this Jared Goetz review for a rundown of what you can learn in the eCom Hacks Academy.

    If you’re considering to avail of the training included in eCom Hacks Academy, take note that the price is 1,999 USD. Before enrolling, it’s best to know what to expect, which are the following:

    1. Training Course

    Jared teaches what he called dropsurfing, which is different from the more commonly known dropshipping. Here are some differences between the two:

    • Accordingly, dropsurfing only sells viral products while dropshipping sells what seems like a profitable product of your own choice.
    • With dropsurfing, you can travel the world without worrying for your inventory, unlike in dropshipping where you need to buy products in bulk, which could pile up in your garage.
    • Dropsurfing uses Shopify as its store while dropshipping uses both Shopify or Amazon. However, the difference is controlling traffic sources for dropsurfing, and it only hopes to make a sale on Amazon.
    • The profit dropsurfing promises for using Shopify ranges from 30-40%, which is higher from dropshipping earnings that range from only 5-10%.

    The dropsurfing concept is what Jared offers through his course: a dream business where you can work at home and travel any time. In the course, he shows you how it’s done from his own formula, which consist of the following:

    • Structure of the store
    • Techniques to convert leads
    • Effective ways to find products
    • Partnering with suppliers
    • Ads creation and scaling
    • Customer service

    Moreover, the content of the course that incorporates videos are as follows:

    • Module 1 – Overview of the structure, which has ten lessons, such as how to register with Shopify’s free 21-day trial, creating a store, establishing your domain name, phone setup, your store’s mode of payment, and basic search engine optimization (SEO) meta descriptions. Although helpful, almost all of these are available online.
    • Module 2 – Talks about setting up your store, which comes in 16 lessons. It focuses on conversion rate methods, email setup, and maximizing sales through upsells and free shipping.
    • Module 3 – Includes four lessons focusing on the products, from finding products and suppliers, to the fulfillment of orders through Oberlo.
    • Module 4 – Has 16 lessons that discuss strategies to keep your store running. Marketing campaigns such as Facebook Ads and using it like a pro, testing methods, and your budget are included in this module.
    • Module 5 – A bonus lesson that talks about conversion hacks, customer services, customer audience, and templates for abandoned cart email, which are in PDF form.
    1. Pros

    The best part of the eCom Hacks Academy is that it is legitimate, unlike many online training courses being offered on the internet these days.

    Moreover, the following are pros that make the eCom Hacks Academy beneficial:

    • Proven Method – Since the structure and formula are personally tested by its founder, eCom Hacks Academy’s strategies can give you financial freedom, similar to what happened to Jared.
    • Suitable for Beginners – Since lessons are understandable, a zero-knowledge Shopify wannabe can learn a lot from the training.
    • Teaches, Not Feeds – Unlike other courses that offer a website they’re affiliated to, Jared’s academy only guides you on how to create and operate your own site. You may even learn how to increase your sales through a new website, akin to what happened to Walmart.
    1. Drawbacks

    The training program may teach you a lot, but like any other program, there are also drawbacks to the eCom Hacks Academy. Here are some of them:

    • Expensive – A lot of online training courses come way cheaper than what Jared offers, and with the content of the program, it has a high price.
    • Not suitable for Shopify experts – Because the content is not new for existing Shopify users, the structure may only be beneficial for beginners. When it comes to setting up an account and website, which existing users may already know, it may not be worth the price for them.
    • Unrealistic Expected Sales – A promise of 5 million USD as your income may be too much. Moreover, the highlight that attracts people, which is working for four hours each week while earning 5 million USD, is a high expectation. Especially if you’re a beginner, this may not be reachable.

    Conclusion

    This review guide may help you balance your expectations regarding the eCom Hacks Academy training program. What is guaranteed is the legitimacy of Jared’s academy, but his claims may not be realistic, as his working style may not be applicable when starting up. Reaching a large amount of income may mean working hard and working smart, but it may take some time for most people. Nevertheless, feel free to try out the training program if you think this will suit and benefit you.

     

     

     

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  • DHL plugs in to Shopify Singapore to enable simpler worldwide shipping

    DHL plugs in to Shopify Singapore to enable simpler worldwide shipping

    DHL eCommerce, a division of the world’s leading logistics company, Deutsche Post DHL Group, is working with Shopify, a leading e-commerce platform, to enable Singapore-based merchants to easily ship to their customers worldwide through a seamless plugin on a single platform. All new Singapore-based businesses built with Shopify will also enjoy special promotions for cross border shipping with DHL. Currently over 60% of Singapore-based merchants sell and ship their products internationally through the Shopify platform, and with the cross-border e-commerce opportunity continuing to grow, the DHL eCommerce plugin will make it even easier for merchants to ship their goods internationally.

    “Cross border e-commerce continues to grow exponentially and this is apparent from the borderless buying behavior of online shoppers. 70% of online buyers made a purchase from a foreign site in 2017, up 6% from the year before and this trend is expected to continue.  To deliver to buyers across borders, sellers need simple and seamless shipping solutions to manage their orders and deliver to their customers worldwide. By building tools for global shippers on Shopify, we’re making it easy to satisfy this exact requirement,” said Senthil Kumar, Managing Director, DHL eCommerce Singapore.

    Integrating different online systems can be complex, especially for sellers who sell online across multiple sales channels. By hosting their e-commerce stores on platforms such as Shopify, sellers have access to a wide array of plugins to connect the dots from click to delivery.

    Improved visibility in delivery helps to greatly enhance the entire customer experience. With DHL eCommerce shipping plugin available on Shopify, shippers can easily ship internationally by processing shipments on a single platform, from printing labels to generating tracking reference codes to enable shipment visibility for their customers — virtually automating the shipping process.

    “Shopify understands the dynamics of e-commerce, where requirements of sellers and buyers are evolving faster than ever. To ensure our merchants are keeping pace, we are working with DHL, a key driver of the global e-commerce ecosystem. The DHL eCommerce plugin, combined with the special rates for new Shopify merchants, will help retailers and brands on our platform ship with ease so they can devote more time to selling,” said Arun Verma, Country Manager, Shopify Singapore.

    DHL eCommerce is part of Deutsche Post DHL Group and, along with its sister divisions DHL Express, DHL Supply Chain and DHL Global Forwarding, DHL has been operating in Singapore since 1970, offering end-to-end solutions for the e-commerce sector.

  • How to maximise instagram as sales channel

    How to maximise instagram as sales channel

    Retailers who want to sell on Instagram might be surprised how easy and effective it is – for businesses both big and small.

    According to one research study, 75 per cent of Instagram users who follow businesses take some form of action, whether it be visiting a site or making a purchase, after seeing a promotional post.

    Of course, to leverage this platform to its full potential, it helps to keep certain points in mind. Just like when advertising on Facebook, you must follow best practices to successfully sell on Instagram. The following tips will help you maximise your profit when you sell on Instagram, by developing marketing campaigns that work.

    Treat your Instagram page like your website

    The rise of social media platforms has fuelled growth of digital marketplaces, where many customers don’t actually visit a company’s website when they first encounter a brand online. Instead, they view its social media page as a substitute for the site.

    So it makes sense to optimise your Instagram account by including a thorough summary of your business and all it offers. You should also select a profile picture that represents your brand. Furthermore, be sure to post any relevant visual content featuring information that your customers might find out about via your website. This may be something simple like information about an upcoming sale or promotion, but it’s still important to promote via Instagram.

    Create ads

    Instagram, like Facebook, allows users to create business accounts and advertisements.

    Once you sign up, the platform will seamlessly guide you through the process of creating and publishing an ad.

    Luckily, you don’t need to create unique content for your ad if you’ve already shared a post that highlights the same key information. A major bonus of the platform is that Instagram lets users turn regular posts into ads if they choose. Experiment with different types of ads to determine which are most effective for your business.

    You may also want to consider creating an ad using the new Instagram Stories format. This provides a more immersive visual experience, as it takes up a device’s entire screen by playing vertically. Since Instagram users view 60 per cent of stories with the sound on, it also gives you an opportunity to incorporate engaging audio content.

    Let users make purchases via the app

    Instagram posts can be an effective way to direct users to your online store to make a purchase. That said, one valid concern is that users will get distracted before completing the transaction. It would be easier if they could simply purchase an item directly via the app.

    Thanks to features like Shopify’s Shoppable Instagram Galleries, they can. This tool lets you tag items in posts that are for sale, meaning users no longer have to leave the app to make a purchase. Instagram has also begun working on a similar feature for business accounts.

    As always, it’s important to ensure your posts look appealing and accurately represent your products. Fortunately, social media marketing makes A/B testing very easy. As you experiment with different strategies, you’ll learn exactly what works best for your future Instagram campaigns.

  • Shopify revenues grow 90 per cent

    Shopify revenues grow 90 per cent

    Shopify, the cloud-based, multi-channel platform designed for small and medium-sized businesses, has reported a 90 per cent increase in revenues for 2016.

    GMV rose 99 per cent to US$15.4 billion, figures which “speak to the enormous opportunity in retail right now and our strategic position within it,” according to CFO Russ Jones.

    Total revenue for the full year reached $389.3 million, compared with $205.2 million in 2015. Within this, subscription solutions revenue grew 68 per cent to $188.6 million and merchant solutions revenue grew 115 per cent to $200.7 million.

    But it still recorded a net loss of $35.4 million, almost double the $18.8 million of 2015.

    Merchants can use Shopify software to design, set up, and manage their stores across multiple sales channels, including web, mobile, social media, marketplaces and physical retail locations. Shopify powers 377,500 merchants in some 175 countries. Its clients include Tesla, Nestle, GE, Red Bull and Kylie Cosmetics.

    “Our work at Shopify is to help entrepreneurs thrive in a space that’s changing all the time, and we did our job especially well this past holiday season,” stated Tobi Lütke, founder and CEO of Shopify. “That eight of our 10 top sellers over the Black Friday Cyber Monday weekend were merchants that had upgraded from lower-priced plans reminds us that today’s startups become tomorrow’s superstars, at a velocity that appears to be increasing all the time. As the engine powering the growth of these merchants, Shopify has an opportunity that stretches years into the future.”

    For the full year 2017, Shopify currently expects revenues in the range of $580 million to $600 million and an operating loss in the range of $73 million to $77 million.

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  • Amazon Payments goes global

    Amazon Payments goes global

    Amazon has launched a new global program designed to allow merchants worldwide to offer Amazon Payments to their customers.

    The Amazon Payments Partner Program offers tools and services to help retail partners grow their merchant business by offering easy integration with Amazon Payments.

    The program includes solution pre-integration and best practices to help ensure that merchants receive the most effective solutions. Merchants will be eligible to receive benefits and services from the program such as knowledge-sharing and ‘white glove integration services’. The program is free to participate in and available by invitation in the US, Germany, the UK and Japan.

    Patrick Gauthier, VP, Amazon Payments, said the company is working across geographies and industries to help merchants adopt its system.

    Members of the Amazon Payments Partner Program are eligible to receive account management, planning support, technical resources and training, a partner directory listing, partner designation with exclusive logos, and some partners may also be eligible for co-marketing activities.

    “The convenience and trust that Amazon Payments provides customers already attracts lots of our merchants. We are honored to participate in the Amazon Payments Partner Program,” said Yuko Hoshino, President of Future Shop.

    “Together, we will support the growth of our merchant business and contribute to the revitalisation of the eCommerce industry in Japan by combining the capabilities of FutureShop2 with the convenience of Amazon Payments.”

    “Amazon Payments extends the trusted and familiar experience of Amazon to our merchants across Europe and the US,” said Corinne Lejbowicz, CEO PrestaShop SA.

    “Our merchants want to offer their customers a payment solution that is trusted, easy and familiar,” added Brennan Loh, director of business development at Shopify.

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