More help for your projections and another tidbit.
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Posted On: 04/26/2022 9:54:15 PM
More help for your projections and another tidbit...
From Shopify's website...
"Millions of businesses in 175 countries around the world have made over $200 billion USD in sales using Shopify."
From Shopify's 10Q
"As of December 31, 2021, we had approximately 2,063,000 merchants from approximately 175 countries using our platform, geographically dispersed as follows: 55% North America, 25% Europe Middle East and Africa, 15% Asia Pacific, Australia and China and 5% in Latin America (Mexico and South America)."
Share of U.S. Retail Ecommerce Sales 2021
#1 Amazon 41%
Guess who is #2 at 10.3%?
Yup, Shopify.
Walmart only 6.6%. Ebay even less at 4.2%
I mentioned before, it sure looked like Verb is leveraging some of Shopify's technology for Market and confirmed today that is true.
It brings a whole host of benefits, including proven security, scalability, reliability, performance, low cost credit card processing and the list goes on and on. Add to that consumer confidence in a trusted brand used by over 2M merchants. Add to that less ongoing cost for support, maintenance & enhancements.
But wait, there is more...
Not only can any of those 2M merchants leverage Market if they want right now, but it's just a few clicks to import all their merchandise and get ready to sell. Shopify keeps track of current stock and even can do fulfillment. Remember fulfillment is the pain in the ass part of it for some businesses.
The relationship Verb has with Shopify, accelerates Market to market. Who doesn't know someone with a Shopify site or bought something from one? In fact, Shopify does it so well, 10% of your online purchase may have been leverage Shopify tech and you didn't notice.
So for your projection homework, you can calculate how many vendors from Shopify will be leveraging Verb's market and what their sales will be. Keep in mind many of the merchants on Shopify, ONLY sell through Shopify. If you read my last post, you'll know why this is a big deal. Fewer channels, more for Verb.
Oh and don't forget. A merchant selling, let's say $10K on Market one quarter or year may sell twice as much the next. May I add, that I think that is more likely than a may. Acceleration of sales for a merchant is what I'm baking into my numbers.
From Shopify's website...
"Millions of businesses in 175 countries around the world have made over $200 billion USD in sales using Shopify."
From Shopify's 10Q
"As of December 31, 2021, we had approximately 2,063,000 merchants from approximately 175 countries using our platform, geographically dispersed as follows: 55% North America, 25% Europe Middle East and Africa, 15% Asia Pacific, Australia and China and 5% in Latin America (Mexico and South America)."
Share of U.S. Retail Ecommerce Sales 2021
#1 Amazon 41%
Guess who is #2 at 10.3%?
Yup, Shopify.
Walmart only 6.6%. Ebay even less at 4.2%
I mentioned before, it sure looked like Verb is leveraging some of Shopify's technology for Market and confirmed today that is true.
It brings a whole host of benefits, including proven security, scalability, reliability, performance, low cost credit card processing and the list goes on and on. Add to that consumer confidence in a trusted brand used by over 2M merchants. Add to that less ongoing cost for support, maintenance & enhancements.
But wait, there is more...
Not only can any of those 2M merchants leverage Market if they want right now, but it's just a few clicks to import all their merchandise and get ready to sell. Shopify keeps track of current stock and even can do fulfillment. Remember fulfillment is the pain in the ass part of it for some businesses.
The relationship Verb has with Shopify, accelerates Market to market. Who doesn't know someone with a Shopify site or bought something from one? In fact, Shopify does it so well, 10% of your online purchase may have been leverage Shopify tech and you didn't notice.
So for your projection homework, you can calculate how many vendors from Shopify will be leveraging Verb's market and what their sales will be. Keep in mind many of the merchants on Shopify, ONLY sell through Shopify. If you read my last post, you'll know why this is a big deal. Fewer channels, more for Verb.
Oh and don't forget. A merchant selling, let's say $10K on Market one quarter or year may sell twice as much the next. May I add, that I think that is more likely than a may. Acceleration of sales for a merchant is what I'm baking into my numbers.
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