The mighty Amazon is a force to be reckoned with in the eCommerce world. Just like when someone cleans their room we describe them as hoovering even if they’re not using a Hoover, people tend to talk about ‘probably getting something on Amazon’ when they mean shopping online. If you’re an eCommerce store owner, how on earth can you compete with that?
Well, one platform that isn’t intimidated by Amazon is Shopify. As the world has had its attention elsewhere, the Canada-based eCommerce platform Shopify has been quietly growing in the background and is now just about the size of Twitter.
So what’s their secret? Simply this: they recognise a significant niche – people with the know-how in terms of their own brand and product, but without the keys to bringing that to market.
When new businesses sign up with Shopify, it’s really easy and intuitive to get started. What’s more, it’s free at the very beginning, and it’s only as successful companies start to grow that the higher fees kick in.
Of course, many companies leave the platform too, having not quite managed to establish their position in the marketplace, but – and this is Shopify’s point – at least they will have gained experience in online selling. Shopify believes that experience is exactly what makes them more likely to return at some stage with a new idea that has more traction.
Shopify shares are booming. They are up by over 500% in just over two years. Even Facebook’s success only managed 100% return in that time.Tweet this now
Shopify shares are booming. They are up by over 500% in just over two years. Even Facebook’s success only managed 100% return in that time. It’s early days though, and Shopify isn’t yet recording profits, but the growth and expansion of the company makes it ideally placed for a major name like Amazon to sit up and pay attention, either in terms of competition, or perhaps a future takeover.
Of course, in business, it’s worth being shrewd and cautious even when things are booming. Shopify’s incredible initial success and trend for high growth will have to level out at some point. But while these are considerations for shareholders and market analysts, eCommerce sellers would be well advised to take Shopify seriously when they’re considering a platform for their online store.
If you’re interested in what Shopify can offer your business, the easiest way to find out is to take the plunge, start using it, and see for yourself.