Shopify Sees eCommerce Sales Boost By 89 Percent

Shopify Q3 Revenue Boost

Shopify, the eCommerce platform that enables small and medium-sized businesses to reach customers across channels, experienced total revenue growth of 89 percent year-over-year in Q3.

The company also confirmed that the value of the goods sold through the merchant sites on its platform increased 100 percent to $3.8 billion.

The Canada-based eCommerce vendor announced that its Q3 sales totaled $99.6 million, an increase of 89 percent from $52.8 million in Q3 2015.

“Our accomplishments over the last few months support the strategy we have made clear from the beginning, which is to do the things that help merchants succeed,” Tobi Lutke, founder and CEO of Shopify, said in a statement.

“We launched Apple Pay, Sell on Messenger and a brand new mobile Shopify app that lets a merchant set up and run their entire business from their mobile phone. Each of these is already making a difference for merchants, and we expect to enjoy the full benefits of these investments over the next several years,” he added.

Tens of thousands of Shopify’s merchants offer Apply Pay at checkout, and those web stores have reportedly seen an increase of up to 200 percent in their mobile checkout conversion rate, Shopify said.

“We are pleased with our third-quarter results,” said Russ Jones, CFO of Shopify. “We continued to expand revenue at an exceptional pace and once again delivered operating leverage. With the expansive opportunities that exist right now for multichannel commerce, prioritizing investments to support future growth, while improving financial results today, is especially important for Shopify.”



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

Click to comment