Shopify is a software that helps you to create a website using their solution. It is a complete commerce platform. It is a Canadian e-commerce company. And provides services like payment, shipping, marketing and customer engagement. It is an e-commerce store that provides help to various stores to sell their product online, which is like very helpful in COVID-19 situation.
The first-quarter revenue listed, the business went smooth during the lockdown. The sales of the company grew by 47 per cent to the US $470 million. The Shopify accepted the details on Wednesday. It is now the leading commerce website.
Obviously, the company is going to boost during Pandemic. Because of the lockdown, mostly the shops are closed. The only way to shop is to do it only. And That’s where Shopify starts boosting its customers. The chief executive Tobi Lutke said they all are working hard. He added he wants to make a good condition for their merchants. They re-tool their products, so they don’t have to face any problem in future.
Shopify is now the second most valuable company on the Canadian stock market. Due to unemployment, they have a problem with new shop creation on their platform. Well, they are creating a milestone for them even in the lockdown period, which is really great.
There are many companies who just change their plan. Or we can say they downgraded it because of the economic issues going around the world. Still, Shopify appears not to have a large impact on them; they are handling everything painless. The Shopify manages to replace 94 per cent of the volume with online sales, according to the company.
That’s all, for now, more information stay tuned and stay safe.