Boost your global sales! Shopify is taking action

In the field of e-commerce, Shopify has become the preferred service platform for companies to sell goods online . Shopify has more than 1.7 million merchants worldwide , compared with only 1 million at the end of 2019 .

However, it is understood that the vast majority of Shopify's merchants are located in North America , with approximately 56% of merchants using the platform in the United States and Canada alone .

For merchants, cross-border sales is a huge opportunity, and the Shopif y platform has also taken decisive action to help platform sellers continue to grow .

Earlier this month, Shopify announced the launch of Shopify Markets to help merchants capture and manage global business opportunities. Shopify said in a press release that the platform helps eliminate the complexity of international commerce and empowers independent merchants to sell products to consumers around the world.

Shopify Markets is the result of a broader partnership with Global- E Online , which is dedicated to making cross-border sales a reality for retailers by eliminating the problems associated with international trade . Global-E handles a range of issues that arise in cross-border sales, including currency conversion, foreign language translation , market regulations , and tariffs .

Global-E's recent listing was supported by Shopify, which acquired a large stake in the company. Shopify acquired 7.75 million shares, or about 6.5% of Global E's shares, ahead of its May IPO , though its stake fell to about 5.4% after the new IPO shares went public.

In addition, Shopify also purchased warrants that allow it to acquire an additional 11.85 million shares of Global E in the next two years . Moreover , Shopify also designated Global-E as the exclusive provider of cross-border services for platform merchants , with an initial contract of three years and the option to renew each year.

According to Shopify, global e-commerce totaled a record $4.2 trillion in 2020, up 25.7% year-on-year. Forrester Research estimates that cross-border sales could account for 20% of all e-commerce transactions by 2022 .

By helping its merchants sell across borders, Shopify has not only increased its platform revenue, but also its gross merchandise volume, or the total value of products sold across its platform. Both metrics are closely watched by investors as a more accurate measure of a company's growth .

At the same time, Global-E also has more than 1.7 million merchants who want to increase their sales. By addressing the challenges of cross-border sales , Global-E is also increasing platform revenue while improving the trust of other online sellers in the platform .

Shopify already provides merchants with many of the tools they need to sell in different regions, and the platform is taking its cross-border retail capabilities to the next level . Shopify is continually expanding its market opportunity.

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