Shopify stats
Emailed on May 8th 2020 in The Friday Forward
According to new stats shared this week by the team at Shopify, retailers are making huge strides in their shift to ecommerce. A few highlights:
Everyone is finally getting online: new stores created on Shopify grew 62% between March 13 and April 24, compared to the prior six weeks.
More diversity in category mix too: certain categories of GMV grew faster between Mar 13 and Apr 24, like “Food, Beverages, and Tobacco”, which doubled during this period relative to the 6-weeks immediately prior.
GMV (gross merchandise volume) through the point-of-sale channel declined by 71% between Mar 13, and Apr 24, relative to the comparable 6 week period prior, BUT retail merchants managed to replace 94% of lost GMV with online sales over the same period.
That last point is huge. If your store hasn't made the shift to online, it is time. Consumers still consumin'.