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Shopify SWOT & PESTLE Analysis

ID : 52745053| Nov 2020| 19 pages

COMPANY PROFILE -Shopify

Business Sector :Software and Programming

Operating Geography :Canada, North America, Global

About Shopify :

Founded in 2004, Shopify Inc is one of the leading global commerce companies operating across various geographies on both online and offline platforms. Headquartered in Ottawa, Ontario, Canada, the company is involved in providing tools and software to merchants for running their business across multiple sales channels like online storefronts, physical retail stores and marketplaces. The business model of Shopify includes two revenues streams, namely merchant solutions and subscription solutions and the business ecosystem of the company developed due to the platform’s functionalities includes app developers, theme designers, digital and service professionals, marketers, and affiliates. Recently, as of February 2020, Shopify was acknowledged as one of the top e-commerce platforms by SoftwareReviews’ 2020 eCommerce Data Quadrant Awards, with a composite score of 8.2.

Shopify’s unique selling proposition or USP lies in providing differentiated services to its merchants by offering them a diverse set of customized, mobile compatible, multi-channel front end and single integrated back end services with the help of its state-of-the-art and cloud-based infrastructure. The company strives to achieve its strategic objectives with its mission statement: “to make commerce better for everyone, and we believe we can help merchants of nearly all sizes, from aspirational entrepreneurs to large enterprises, and all retail verticals realize their potential at all stages of their business life cycle.”

Shopify Revenue :


USD1.578 billion – FY ended 31st Dec, 2019
USD1.073 billion – FY ended 31st Dec, 2018

Competitive Analysis of Shopify

SWOT
PESTLE
The SWOT analysis for Shopify Inc is presented below in a table followed by the detailed analysis report.
StrengthsWeaknesses
1. Wide portfolio of innovative products including storefront tools available on the online platform
2. Strategy-aligned business acquisitions adding to the profits
3. Exponential year on year growth trajectory
4. Providing merchants with differentiated technology offerings
5. Strong and symbiotic partner ecosystem
6. Provision of rich customer experience to the merchants and sellers
1. History of losses and accumulated deficit
OpportunitiesThreats
1. Investments in marketing or promotional activities to increase brand awareness
2. Collaboration with Libra Association and Coinpayments to enable cryptocurrency payments
3. Expansion into logistics and fulfilment services
4. Strong and consistent growth expected in e-commerce
5. Entering into the Asian markets through collaborations
1. Economic headwinds may hamper revenue growth
2. Aggressive competition to Shopify’s fulfilment network from Amazon, United Parcel service
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Shopify

Strength

1. Wide portfolio of innovative products including storefront tools available on the online platform: Shopify’s top-level leaders have talked about the future of commerce, as well as the company’s product roadmaps for its partner and developer communities. The company believes in making intensive investments in creating better product browsing experiences that will lead to higher customer engagement and faster conversion rates. Shopify has opened up access for all its merchants, to the Video and 3D updates added to Shopify Admin’s product section as well as to the Shopify Admin API and Storefront API. The company offers the GraphQL Admin API to its developers, through which the latter can associate videos and 3D model assets with a product. Moreover, from the Shopify Unite Mainstage, the company announced further additions to the Storefront API, for enabling retrieval of product media types using offsite storefronts and mobile apps.

2. Strategy-aligned business acquisitions adding to profits: Shopify has aggressively diversified to increase its profitability and has made several business acquisitions aligned with its strategy. Shopify marked the end of 2018 with the acquisition of Tictail, Inc and its subsidiaries, strengthening its e-commerce operations. The company continued on the same path into the year of 2019. It acquired several other companies such as Helpful.com, Inc, Handshake Corp, Vinderbit Pty Ltd and 6 River Systems, Inc. Through the Handshake and Helpful.com acquisitions, Shopify expanded its offerings into business-to-business ecommerce solutions and AI-based enterprise mobile products. Using various discounted cash flow methodologies and cost approaches, the company weighs the entity to be acquired and measures its contributions to the business and the overall value it will bring to the table.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

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Threats

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • BigCommerce
  • WooCommerce
  • PrestaShop
  • Wix
  • 3dcart
  • Big Cartel
  • Weebly
  • Magneto
  • Volusion
  • Squarespace

Major Brands :

  • 6 River Systems
  • Boltmade
  • Handshake
  • Oberlo UAB
  • Shopify Payments
  • Shopify Holdings
  • Shopify LLC
  • Shopify Commerce Singapore Pte. Ltd,
  • Shopify International Ltd
  • Shopify Capital
  • Tictail
  • Tiny Hearts
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Check Out Analysis of Other Relevant Companies

TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Shopify Analysis Report

1. We need to change our climate for the better - https://www.shopify.in/about/environment
2. An Insider's Look at the Technology That Powers Shopify - https://www.shopify.in/partners/blog/shopify-technology-platform
3. DIGITAL AROUND THE WORLD - https://datareportal.com/global-digital-overview
4. Canada-China tensions: Why they began and what’s happened since - https://globalnews.ca/news/5433842/canada-china-detentions-trade-extradition/
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Shopify SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). Shopify SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/shopify/ [Accessed 02 Dec, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

Shopify Inc SWOT and PESTLE analysis has been conducted by Anindya Anindita and reviewed by senior analysts from Barakaat Consulting.

Copyright of Shopify Inc SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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Shopify SWOT & PESTLE Analysis
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