The pandemic has crushed several businesses but e-commerce is definitely not one of them—in fact, the shift to e-commerce has accelerated as COVID led to a temporary closure of retail stores. As per Digital Commerce 360, online spending increased 30.1% Y/Y to $347.26 billion in the first half of this year.
Even after the easing of lockdown restrictions, e-commerce continues to be strong, though the growth rate has decelerated. According to Adobe Analytics, e-commerce sales grew 55% Y/Y to $66.3 billion in July, compared to a growth of 76% in June.
Quite a lot has been going on:
The Next Shopify: Could it Be 1 of These 2 Stocks?
It's a bit earlier on in the process than even Lightspeed, but NextTech AR Solutions (CNSX:NTAR) is another intriguing option for tech investors. It released its second-quarter results on August 25, and it posted record sales of $3.5 million that were up 290% year over year. It's a steep increase in sales but with just $906,000 in revenue in the prior-year period, this is still a company that has a lot to prove.
The company offers solutions for virtual conferences, virtual education, virtual trade shows, not to mention marketing applications that can help sell products in an increasingly digitized world, allowing people to see items in 3D. There's potential here, but it's ultimately going to depend on how bullish you are on augmented reality. If you're not, you may see this as a fad that doesn't add value and isn't investable.
Former adidas Exec Jon Wexler Joins Shopify | HYPEBEAST
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What Shopify's Latest C-Suite Hire Means for Its Influencer Program
Former Yeezy GM Jon Wexler has some ~ personal news ~: He's becoming the VP of the influencer and creator program at Shopify.
So Wexler's arrival at the storefronts-as-a-service company hints at Shopify's larger ambitions beyond existing clients: to position itself as the place where anyone who counts as an "influencer" goes to open an online store.
Another outcome? Wexler may also oversee strategies to help existing Shopify clients build their personal brands alongside their sales.
Check out this next:
TikTok users can link to Shopify and Teespring with e-commerce buttons - Business Insider
For more stories on how creators are using TikTok to grow their businesses, check out these other Business Insider posts:
The Zacks Analyst Blog Highlights: Target, JD.com, Best Buy, Shopify and Kroger
Chicago, IL – September 4, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Target Corporation TGT, JD.com, Inc. JD, Best Buy Co., Inc. BBY, Shopify Inc. SHOP and The Kroger Co. KR.
E-commerce has been saving the retail sector, which has been battered by the pandemic. Ever since the coronavirus outbreak, e-commerce sales have almost doubled year over year.
Sutcliffe: Shopify shutters Elgin offices but Ottawa will cope | Ottawa Citizen
Anyone who cares about the future of our city should be glad Tobi Lutke met the right woman. If Lutke hadn't encountered his future wife, Fiona, on a snowboarding trip, and then eventually moved to Ottawa to be with her, there might be no Shopify, or it might be headquartered anywhere from Vancouver to Berlin. We put a lot of time and energy into careful and clever economic development strategy, but this billion-dollar company flourished in Ottawa due to a series of random events.
Shopify (TSX:SHOP) Just Corrected: Should You Buy the Dip or Wait?
Just when you forgot what it was like to have a down day, the S&P 500 fell off a cliff, shedding 3.5% of its value in a single trading session. Too many beginner retail investors were likely having too much fun with the rally (or is it a melt-up?) out of the market's March trough.
With headlines over the second coming of a tech bubble floating around in the mainstream financial media, there's no question that many are concerned that the COVID-19 crisis has caused the first half of the year's biggest tech winners to overshoot their intrinsic value range. The pay-any-price for COVID-19 winners strategy probably enriched many beginner investors.
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