E-commerce platform vendor Shopify grows Q3 revenue 93%
10.11.2015 333 views
In only its second earnings report since going public, e-commerce platform provider Shopify Inc., which raised $150.5 million in a May IPO, posted a hefty sales increase and expanded its client base.
A key accomplishment in the quarter was the increased social channel offerings, through major social media network buy button deals, CEO Tobi Lutke told analysts on the Canadian company’s third quarter earnings call. “Access to the Twitter channel, which has been well-received, joins Facebook and Pinterest and are available to all Shopify merchants.”
The Facebook scenario gives retailers the option to add the Buy button to their Facebook posts when they log onto their Shopify account. The Buy button additions on Facebook, Twitter and Pinterest show “a lot more companies are thinking about how products should be discovered in the next chapter of the Internet,” Lutke told analysts.
In September, Shopify launched a program with Twitter that enables Shopify merchants to sell products directly on Twitter. Twitter’s Buy Now button is available to U.S.-based Shopify merchants at no additional cost, which the company says will make it easier to get their products into their followers’ hands.
Shopify merchants can sell their products on Twitter by adding the Twitter sales channel so that any product tweeted from a merchant’s store will automatically include a Buy button. Shoppers can buy products directly within their timeline on desktop, iPhone and Android. All Twitter orders, as well as product and customer details, will be synchronized with Shopify, the vendor says.
The Twitter announcement followed similar agreements with Facebook and Pinterest that provide a Buy button and Buyable Pins, respectively, to help participating Shopify merchants to sell through the social networks. In June Shopify announced that its merchants can sell on Pinterest using Buyable Pins.
Other high-water marks Shopify noted for the quarter include the Shopify Shipping rollout, which gives U.S. merchants the option to print and buy U.S. Postal Service shipping labels through Shopify for up to 60% savings off retail rates, and Shopify’s selection by Amazon.com Inc. as the preferred alternative for Amazon Webstore merchants once the service shuts down next year.
Shopify is now offering tools and services to help merchants integrate with Amazon, including Login and Pay with Amazon and Fulfilment by Amazon. Amazon is No. 1 in the Internet Retailer 2015 Top 500 Guide.
Source: Internet Retailer