2 Reasons Why Shopify Is the Best Retail Investment
Shopify (NYSE: SHOP), the all-in-one commerce platform, has performed terribly in 2022, losing 70% year to date. However, investors have reasons to be optimistic. The company released an earnings report on Oct. 27 showing why retailers continue gravitating to it.
Here are two reasons Shopify is the best investment in retail.
Shopify's business is driven by how successful it is at helping its merchant clients create sales, which today means using a multichannel retailing strategy. Data shows that the more channels a merchant offers shoppers to buy through, its revenue multiplies. For instance, when an online store sells through one additional marketplace, like Amazon, it gains a 38% increase in revenue. Likewise, the merchant sees a 120% revenue boost by having two additional channels.
Source Fool.com
