PYMNTS
As the coronavirus pandemic speeds up consumers’ transitions to online shopping, Shopify reported that new stores created on the platform jumped 62 percent from March 13 to April 24 compared to the six weeks before. According to the company, the growth was powered by “the shift of commerce to online as well as by the extension of the free trial period on standard plans from 14 days to 90 days,” according to an announcement.
Shopify said the number of shoppers believed to have made a purchase for the first time from any merchant on the platform increased 8 percent from March 13 to April 24, compared to the previous six-week timeframe. The company also said the number of shoppers believed to have transacted from merchants they hadn’t shopped from previously jumped by 45 percent compared to the prior six weeks.
However, Shopify noted that gross merchandise volume (GMV) via the point-of-sale (POS) channel plummeted by 71 percent from March 13 to April 24 relative to the comparable six-week timeframe immediately before March 13, as most of the platform’s retail merchants halted their in-store operations. But the platform noted that retail merchants were able to replace 94 percent of lost POS GMV with eCommerce sales over the same timeframe.
