Shopify Sales More Than Double In Q2 As Merchants Move Online
Shopify’s gross merchandise value (GMV) – that is, the total value of goods sold on its platform – more than doubled in Q2 2020, increasing by 119% year-on-year, as customers across the globe flock to online channels during the COVID-19 crisis.
The GMV growth rate accelerated in April and May, but began to decelerate in June and July.
“The world is changing fast,” said Tobi Lütke, Shopify’s CEO. “With the rapid shift to online commerce, massive disruption to conventional employment, and growing conviction that opportunity needs to be more evenly distributed, entrepreneurship has never been more important. With all of these changes, our core principles remain the same: everything we ship is designed to lower barriers to entrepreneurship and reduce friction wherever we can.”
The number of new stores created on Shopify’s platform grew by 71% in Q2, driven by both the shift to online commerce and the company’s extension of its free trial period from 14 days to 90 days.
In the past quarter Shopify launched Shopify Shipping in Australia, partnering with courier services company Sendle. This service allows Australian merchants to print Sendle labels and book free parcel pick-up within the Shopify admin, giving merchants affordable shipping rates, package tracking, and 100% carbon-neutral shipping.