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E-Commerce & AI – The best of both worlds!

Why does your commerce need to undergo a digital transformation & come out as an ecommerce business? And why is Shopify the best platform to go to? Read to know more

The pandemic has left limited scope of growth for traditional commerce methods to scale and expand, and shift to online platforms has become a necessity. Merchants are coming to terms with the rapidly changing nature of business and the realities of connection between the significance of digital transformation for commerce and sustainability.And as far as they can tell, this need can be gauged and valued only at the hands of a good e-commerce platform.

The innovation and development of a variety of ecommerce platforms has been a testament to the fact that people are now understanding the nitty gritties of choosing the right platform for their business. The industry offers a wide range of options, but not many of them have the competence to satisfy the consumer wants and needs along with retaining their trust and loyalty via high-tech yet easy to use products and solutions.There are so many options available in the market that choosing one is definitely not a child’s play and that is where our calculative perspective and research comes into play.

 Shopify – The one stop E- Commerce problem solver

Shopify is an ecommerce platform that allows customers to set up online stores and sell their products online and offline. Merchants can also sell their products in person with Shopify POS. Shopify is now a global leader in commerce platforms designed for businesses of each and every size. Whether you sell online, in store, on social media, or out of the trunk of your car, Shopify has you covered. The first Shopify store was its own, and it’s been the company’s mission to make commerce better for every merchant ever since.

Chaos amidst the evershining hope

According to Ottawa Business Journal, in an email to employees, Tobi Lutke co-founder and CEO announced that the ecommerce company’s chief talent officer, Brittany Forsyth; chief technology officer, Jean-Michel Lemieux; and chief legal officer, Joe Frasca, will transition out of their roles this summer. 

Over the past year, Shopify has seen a spike in profits as well as its stock price as the COVID-19 health crisis largely drove consumers indoors and hence, online. In the last quarter, the e-commerce platform recorded an income of $123.9 Mil, and its shares are currently trading up 1.5% to $1,198. The company currently has a market capitalization of $148.37 billion.

Toronto-listed shares of Shopify were up 3.5% at C$1526.41 last week, giving it a market value of C$188 billion ($150 billion). It ended down 5.1% on Wednesday.

How Shopify always speaks for itself

Despite the departure of C-level executives from the e-commerce giant, the rise in the share price shows that the company has a strong talent pool and robust tech stack to fall back on, trusted by the customers. The customer experience delivered by Shopify’s POS, Online Store Builder, and Mobile commerce is something that has been recognized time and again. 

A couple of reasons why Shopify customers believe in its core offerings and status in the market are – 

  • Flexibility with Unlimited Products – Shopify has kept no limitations on the number of products that a merchant can sell on this platform and its online store.
  • No limitations on Bandwidth – Another great feature that makes Shopify stand out from the competition is that it offers no limitation on the online storage or bandwidth.
  • Point of Sale Facility – Not many ecommerce platforms offer this attribute, but Shopify deployers can make use of its POS and process their orders while taking advantage of in person payments.

The company partners with market leaders like Khronos Groups, for 3D modelling, W3C’s Web Payment Working Group, for secured and easy payments, and other service providers for extensive processing and global infrastructure, that powers the platform and enables it to take over the market.

The increase in the share price and total valuation of the company could be pointing towards the trust of the shareholders in the tech stack and leadership of the company!

For more such updates and perspectives around Digital Transformation, IoT, Data Infrastructure, IT, AI & Cybersecurity, go to AI-Techpark.com.

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