. Military Space News .
INTERNET SPACE
Amid e-commerce boom, anti-Amazon Shopify takes flight
By Olivier MONNIER
Toronto, Canada (AFP) Oct 18, 2020

The pandemic has forced businesses worldwide to pivot online to survive, and many have turned to Shopify, a Canadian company that has emerged as a thriving alternative to Amazon.

Founded 15 years ago in Ottawa, Shopify allows businesses to create an e-commerce site in just a few clicks. Already growing with more than one million e-stores at the end of 2019, its user base has exploded.

"The retail world that would have existed in 2030 has really been pulled back into 2020," Shopify president Harley Finkelstein said in an interview with AFP.

"It feels like Covid has permanently accelerated the growth of online commerce."

Amid a lockdown of bricks and mortar stores, online commerce has boomed this year. Consumers have grown accustomed to buying over the internet, and industry giants, led by Amazon, have seen sales rocket.

At the same time, many businesses that did not have a presence or a direct online sales channel took the plunge as the pandemic took hold.

Popular with entrepreneurs, Shopify saw the number of new stores created on its platform jump 71 percent in the second quarter compared to the previous one.

One of these new e-merchants is Tariq Al Barwani, creator of Plentea, a tea bar in Toronto that remained open in March at the start of the lockdown.

But with only a handful of customers a day, the situation quickly became untenable, forcing him to go out of business in May.

The same month, supported by a municipal program helping small businesses affected by the crisis to go digital, he opened a store on Shopify.

"It took us a week," he recalls from his living room, overlooking Lake Ontario, where he now works. "If you are used to going on the internet, it is easy to understand."

Shopify has become a resounding success far from Silicon Valley.

It was co-founded in 2006 by Tobias Lutke, a young German who'd moved to Canada for love and designed the software originally to sell snowboards over the internet.

Hailed for its simplicity, it has seen the number of stores on its platform grow from 150,000 in 2014 to over one million -- in 175 countries -- in 2019, asserting itself in the eyes of many independent merchants as an alternative to Amazon.

"For retail to thrive, it has to be in the hands of the many, not the few," Finkelstein said.

"We need to have as many retailers, as many brands, as many entrepreneurs and small businesses selling, so that we don't all look the exact same, (and) so we don't buy the exact same stuff."

- 'Arm the rebels' -

More bluntly, Lutke, now 40, said on Twitter last year: "Amazon is trying to build an empire. Shopify is trying to arm the rebels."

When they created their clothing line in 2015, the Toronto-based founders of Kotn, a brand that emphasizes traceability, went straight to Shopify.

With Can$10,000 ($7,500) in startup funds, they couldn't afford to hire an agency.

And unlike Amazon's marketplace, Shopify allowed them to "tell (their) own story" and to control their relationship with customers, Mackenzie Yeates, one of the co-founders, told AFP.

Shopify is also enjoying growing success with established brands looking to sideline intermediaries who sell their wares and to build direct relationships with customers.

Pepsi, Unilever and Mondelez have all opened storefronts on Shopify in recent years.

Ketchup maker Heinz and Lindt chocolates recently followed suit. Celebrities like Kylie Jenner and Victoria Beckham also use it to sell products to their fans.

As a result, the volume of sales handled by the platform increases quarter after quarter, and in the United States, Shopify merchants are now the second largest grouping of online merchants in the country, behind Amazon.

Investors have taken note too.

On the Toronto and New York stock exchanges, Shopify's share price has tripled since March. With a market capitalization of around Can$170 billion at mid-October, it has become Canada's most valuable company.

Toronto e-commerce expert Chris Silvestre says it's "a fantastic company," but considers its stock overvalued, in part because it is still largely unknown how the e-commerce sector will evolve once the pandemic has peaked.

As for Al Barwani, his online store sales have exceeded expectations but still remain well below his former tea bar.

While it was easy to launch his site, building new customers will take time, he concedes. Above all, he will have to get used to his new virtual life.

"I do miss my tea bar," he said. "It was nice to see locals come by and saying 'hi,' asking how you're doing... (ask) what are you up to this weekend, or how's your family doing.

"Those kinds of interactions are really hard to replicate online."


Related Links
Satellite-based Internet technologies


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


INTERNET SPACE
BTS management agency stock doubles on market debut
Seoul (AFP) Oct 15, 2020
Shares in the management agency of K-pop sensation BTS more than doubled on their stock market debut Thursday, making an instant multi-billionaire of its chairman and boosting the seven band members' own fortunes. The initial public offering of shares in Big Hit Entertainment saw staggering demand, with the public section oversubscribed 607 times and applicants receiving only a tiny fraction of their requests. The firm's centrepiece asset BTS have risen to global stardom in recent years, cementi ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

INTERNET SPACE
Turkey plans live-fire exercise, missile defense tests

US Space Force contracts for 8 missile early warning satellites

US Army wants electronic jammer weapon with missile defense capabilities

Lockheed Martin selected to integrate missile warning onto EGS via FORGE

INTERNET SPACE
Russia announces successful test of hypersonic missile

Senators push Turkey sanctions after S-400 allegedly used to detect Greek F-16s

General Dynamics nabs $1.2B for Army's short-range air defense system

Iran Guards unveil new naval ballistic missile

INTERNET SPACE
Skyvision team wins AUVSI XCELLENCE award

Boeing to build unmanned aerial vehicles in Australia

Turkey, Iran deploy 'game-changing' drones in north Iraq

Wacky indoor Amazon drone takes on privacy skeptics

INTERNET SPACE
Defense Dept. awards $600M in contracts for 5G testing at five bases

Isotropic Systems and SES GS to trail next-gen multi-beam antenna technologies for US forces

Swedish Space Corporation to cease assisting Chinese companies operate satellites

Creating cross-domain kill webs in real time

INTERNET SPACE
U.S. Army hits its recruiting, retention goal for FY 2020

US Army won't require Army Combat Fitness Test scores in training

New Army field manual recommends midday naps

GAO to investigate racism in Veterans Administration

INTERNET SPACE
House bill would reinforce Israel's 'qualitative military edge'

Japan's military seeks record $52 bn budget

Pentagon vows to help Israel keep military superiority

Japan proposes $51B defense budget, citing increased threats

INTERNET SPACE
Canada gets consular access to two citizens held in China

Pompeo asks Vatican to be 'serious' on China

Pompeo warns of China risks ahead of US-India talks

Cambodian PM says naval base not just for China

INTERNET SPACE
Nano particles for healthy tissue

Hybrid nanomaterials hold promise for improved ceramic composites

Scientists open new window into the nanoworld









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.