Shopify did $61bn of GMV in 2019, up 49% in a year, but it's impossible for anyone to compete with Amazon.
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don’t really think they are or can compete... they just have their own lane... heavily dependent on payments.
Word. Amazon gets a 15% commission which they in part pay to payment processor. Shopify gets a 2.9% which they in part pay to processors. Tough spot to be in. Amazon also has a $40 monthly fee and charges ads. Good luck shop!pic.twitter.com/TIaszxQ5k9
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the bear case for me with Shopify is simply churn and the talent pool. $2.9b is great for BFCM... but most of those merchants probably lost money on those sales. cash is constantly being vacuumed out by the ecosystem and many merchants have burnt a lot of cash w/o seeing green
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The customer value prop also sucks compared to amazon prime.
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Can't Shopify offer their own aggregation of sold products to search across and then ads?
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Good idea. They can. IIRC they toyed with this but it was not well received by their sellers? If I'm then, I'm def trying to do that somehow.
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