The tech sector has recently found a new leader: Shopify. The e-commerce software platform has been growing in popularity, cultural clout and of course, profitability. Read this brief explanation about how the company has quickly climbed to this top position in the tech world and why businesses will want to join the platform.
Shopify Inc. saw a recent rise in shares, carrying it to the very top of Canada’s tech sector and making it the largest tech stock on the Toronto Stock Exchange. The boost pushed it over the country’s tech giants like CGI Group Inc. and Nortel Networks Corp. According to reports from The Globe and Mail, Shopify has $24.7 billion in market capitalization that won’t be diminishing any time soon.
Shopify has shown growth beyond the confines of the Canadian border. In 2018, it was listed as one of the biggest e-commerce companies in the world due to the success of its customer to customer (C2C) marketplace. It only stood behind massive tech companies like Alibaba, Amazon, JD.com and eBay. Alibaba has a gross merchandise value (GMV) of over $768 billion.
Why Should Business Owners Join Shopify?
It’s not enough to point out that Shopify is achieving astronomical success in the tech world. It’s too easy to say that someone should just hop on the bandwagon. Instead, you should know why people are clamoring to join the platform.
One of the biggest reasons why Shopify is popular with online business owners is that it provides exceptional customer support. It has workers available for 24-hour customer care and technical assistance to answer user problems.
They also support their customers through features and applications designed to make running a business smoother. For instance, the netParcel app makes packaging and delivering products simpler, faster and more affordable for online store owners on Shopify. Someone who is looking to make more room in their spending budget can turn to the tool to quickly trim costs.
Canadian businesses can use netParcel shipping services to find the cheapest shipping rates for product orders with destinations across the country. The app uses deals through LTL shipping (Less Than Truckload shipping), which combines shipments from multiple customers to fill up space in the trailer. This way, you divide up the shipment costs with other businesses and make the price much easier to handle.
Canadian businesses that have orders to send across the border can find the cheapest way to ship items to the USA through the app, as well. There are affordable options for LTL shipping, small parcel delivery and volume consolidated shipping. Volume consolidated shipping allows for smaller shipments to be assembled to create a full container. Like LTL, this move makes transportation costs lower.
Finally, American businesses can find the cheapest shipping options to Canada to keep all of their customers happy. For this scenario, volume consolidated shipping is the best way to save money and get products delivered quickly to their destinations.
Shopify’s undeniable success in the tech industry shows that the ecommerce platform is impressing users. If the numbers aren’t enough proof, business owners can look to the services they offer their customers, whether it’s technical support or courier brokering. While the platform is growing in the tech world, it’s helping its customers thrive in their own markets.