Shopify Hikes Prices: Genius Move or Desperation?
The past year has been a trying one for Shopify (NYSE: SHOP) investors. After pandemic-fueled lockdowns drove accelerating adoption of e-commerce, merchants flocked to its platform, ready to embrace the new normal. Then the other shoe dropped.
As the worst of the pandemic wound down, shoppers reveled in their freedom, as waves of consumers rushed back to brick-and-mortar stores in unexpected numbers. The combination of tough comps and slowing growth hit digital retailers hard, with Shopify arguably being hit among the hardest.
The company has been working to shore up its financial results, taking steps including cost-cutting and workforce reductions. Now, Shopify said it's hiking prices across the board for the first time in 12 years.
Source Fool.com
