Shopify announced their financial results for the first quarter which ended last 31st March 2020. The Shopify eCommerce quarter growth mainly focused on their performance amid the COVID-19 pandemic, among others.
Working amid COVID-19
Although the impact of the COVID-19 pandemic has proven a disadvantage for businesses, it also pushed e-commerce into the spotlight. Staying home has encouraged customers to purchase online, and business owners to start eCommerce platforms.
During this time, Shopify positioned itself to help businesses during this tough time. Providing several services such as an extended 90-day free trial, gift card capabilities for merchants, multiple online resources, and more.
Shopify Ecommerce Quarter Growth: Financial Performance
Merchant solutions revenue also grew by 57%, up to $282.4 million. On the other hand, subscriptions grew by 34% which resulted in an increase to $187.6 million.
In total, Shopify’s revenue for the first quarter was $470.0 million – thanks to a 47% increase from the previous quarter in 2019.
Shopify’s Business Highlights
In the first quarter of 2020, more merchants signed up for Shopify’s Fulfillment Network, exceeding the number of all previous quarters.
To help combat today’s challenges with COVID-19, Shopify is working with several warehouse partners. This initiative is mainly to ensure the best practices, safety, and health measures for warehouse employees.
Learn more information about Shopify’s eCommerce quarter growth here.
About D38 Ecommerce Agency
D38 is a South East Asia-focused ecommerce agency that provides end-to-end Ecommerce solutions to grow your business on the digital space and generate ongoing monthly revenue. Our e-commerce solutions range from website development, store management, logistics, CRM, customer loyalty programs, automated email marketing, SEO, marketing tools, product press-release (PR) to reputation management – helping international companies simplify e-commerce management across ASEAN Economic Community (AEC).
Our team consists of certified Shopify eCommerce experts, designers, developers, content creators and strategists working together to support and provide a seamless online shopping experience for our clients’ eCommerce websites.
We also have a market-specific digital channels team focusing on providing support for LINE Thailand and Japan, Naver for Korea, and ZhaoVN for global Chinese readers for social news and updates.
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D38 is a member of Digital 38 Group.