Shopify Inc. subscription software permits users to set up online stores to sell their products ( Bandara, Fernando & Akter, 2020) . Founded in 2006, Shopify stores owners sell their items in different physical locations using the company's point of sale app, Shopify POS, and their respective accompanying hardware (Chu, 2020). Online merchants who have a physical and online presence, stock, and inventory are synced to manage their stores from one combined account on devices of their choice, whether computers or smartphones ( Dhusia, 2021) . The Shopify apps allow users to customize their stores or even build them from scratch.
Shopify's core products include anything a user wants to turn into an idea, any income-generating activity (Kaore, 2020). It comprises integrated payment methods, SEO, internet-enabled converting checkout; these are the basic foundations upon which its applications and products are built ( Howe-Patterson, & Schuiling) . The company operates in 175 countries worldwide, with 1.75 million merchants using their platform to market and sell their commodities ( Kuzminykh, Ghita, & Shiaeles, 2020). The company earns a subscription fee paid by the users, ranging from $29 monthly for small businesses and entrepreneurs to about $2,000 for large corporations (Khan, 2020). Under its agreed terms and conditions of merchant solutions, it handles digital payments and shipping for the subscribers.
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Shopify is among the few companies that have benefitted from the ongoing coronavirus pandemic (Bloom, Fletcher & Yeh, 2021) . In 2020, when the pandemic was at its peak, Shopify's merchant solutions revenue increased to 116%, whereas subscription revenues grew to 41%. Similarly, gross merchandise traded on the Shopify platform increased by 96%, reaching $119.6 billion ( Donthu, & Gustafsson, 2020) . Shopify’s shares in the U.S. retail market is estimated to be 9% more than its close competitors like eBay, Apple, and Walmart. In February 2021, the company shares failed the predicted breakout, which was past 1,285.28 this is according to reports by Market Smith chart analysis. Shopify stock is currently testing its 200-day mark target after meeting the March 50-day target ( McAtamney, 2020) . Shopify composite rating is now at 63 out of 99: this was calculated by combining key technical metrics with fundamental metrics.
References
Bandara, R., Fernando, M., & Akter, S. (2020). Explicating the privacy paradox: A qualitative inquiry of online shopping consumers. Journal of Retailing and Consumer Services , 52 , 101947.
Bloom, N., Fletcher, R. S., & Yeh, E. (2021). The impact of COVID-19 on U.S. firms (No. w28314). National Bureau of Economic Research.
Chu, S. (2020). Shopify Upsell App: Using Next. Js, React. Js to boost sale.
Dhusia, D. K. (2021). Unit-8 Electronic Commerce Software. Indira Gandhi National Open University, New Delhi.
Donthu, N., & Gustafsson, A. (2020). Effects of COVID-19 on business and research. Journal of business research , 117 , 284.
Howe-Patterson, K., & Schuiling, I. Shopify in Germany: An analysis of a Canadian e-commerce platform’s marketing strategy and activities in an international market.
Kaore, N. (2020). A Comparative Study on the Impact of Portfolio Diversity (Doctoral dissertation, Dublin, National College of Ireland).
Khan, F. (2020). I-POST: Intelligent Point of Sale and Transaction System. arXiv preprint arXiv:2011.06144 .
Kuzminykh, I., Ghita, B., & Shiaeles, S. (2020). Comparative Analysis of Cryptographic Key Management Systems. In the Internet of Things, Smart Spaces, and Next Generation Networks and Systems (pp. 80-94). Springer, Cham.
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