• MarTech Today
  • Sections
    • Ads
    • Marketing
    • Content
    • Sales
    • Analytics
    • Management
    • Resources
    • More
    • Home
  • Follow Us
    • Follow
  • MarTech Today
  • Ads
  • Marketing
  • Content
  • Sales
  • Analytics
  • Mgmt
  • Resources
  • More
  • Events
    • Follow
  • SUBSCRIBE

MarTech Today

MarTech Today
  • Ads
  • Marketing
  • Content
  • Sales
  • Analytics
  • Management
  • Resources
  • More
  • Events
  • Newsletters
  • Home
Martech: Commerce

Shopify revenue grew 47% in Q4 as merchants take advantage of new marketing capabilities

The e-commerce provider reported annual revenues of $1.57 billion and continues to invest in new technology.

Jennifer Cannon on February 13, 2020 at 1:54 pm
  • More

E-commerce provider Shopify reported [PDF] $505.2 million in revenue for the fourth quarter of 2019 on Wednesday, an increase of 47% compared to the fourth quarter of 2018. Annual revenues topped $1.57 billion in 2019, up 47% from 2018.

The company attributes the growth to a number of factors, including additional of marketing capabilities available to merchants on the platform such as Shopify Email and native chat for merchant sites.

Why we care

Shopify is aiming to become a centralized, end-to-end retail and marketing platform for merchants. The company continues to invest in efforts to build an affordable operational framework for merchants to grow — and maintain a competitive edge against Amazon. In 2019, Shopify launched its Shopify Distribution network, acquired 6 River Systems, added machine-learning powered inventory management systems and introduced Shopify Email. Shopify Marketing also launched an integration with Microsoft Advertising that allows merchants to expand their reach within the Microsoft Search Network from within Shopify’s platform.

“With consumer expectations rising for fast and affordable delivery, fulfillment poses a challenge to all businesses,” said Shopify CEO Harley Finklestein on the company’s earnings call Wednesday. “Combining our economies of scale with the automate fulfillment technology from 6 River Systems, we will enable our merchants to better compete with the largest business on the planet.”

More on the news

  • 45% percent of eligible merchants in the US and Canada used Shopify Shipping in the fourth quarter, up from less than 40% in the fourth quarter of 2018.
  • Mobile orders accounted for 80% of web traffic and 68% of orders last quarter, up from 78% and 66%, respectively, from the same period a year ago.
  • Subscription Solutions revenue increased 37% year-over-year to $183.2 million.
  • Monthly recurring revenue also grew 32% year-over-year to $53.9 million, primarily due to new merchants coming on board, the company said.

Opinions expressed in this article are those of the guest author and not necessarily MarTech Today. Staff authors are listed here.



About The Author

Jennifer Cannon
Jennifer Videtta Cannon serves as Third Door Media's Senior Editor, covering topics from email marketing and analytics to CRM and project management. With over a decade of organizational digital marketing experience, she has overseen digital marketing operations for NHL franchises and held roles at tech companies including Salesforce, advising enterprise marketers on maximizing their martech capabilities. Jennifer formerly organized the Inbound Marketing Summit and holds a certificate in Digital Marketing Analytics from MIT Sloan School of Management.

Related Topics

Channel: Martech: CommerceE-Commerce & Martech

Subscribe to receive daily martech news and expert insights. See terms.


We're listening.

Have something to say about this article? Share it with us on Facebook and Twitter.

Get the daily newsletter digital marketers rely on.
See terms.

ATTEND OUR EVENTS

MarTech 2021: March 16-17

MarTech 2021: Sept. 14-15

MarTech 2020: Watch On-Demand

×

Attend MarTech - Click Here


Learn More About Our MarTech Events

White Papers

  • 6 Powerful Ways Experience Analytics Can Help Your Business Now
  • Email Tune-Up: A 5-Point Inspection to Get Your Program in Gear
  • Digital Marketing Report Q4 2020: Benchmarks and Insights for 2021
  • Data SEO – The Next Big Adventure
  • Getting Started with Email Marketing Automation
See More Whitepapers

Webinars

  • The Secret Behind SEO Success: Predict Rank with the Power of Data Science
  • How to Avoid the Digital Transformation Trap
  • How to Build a Marketing System of Record
See More Webinars

Research Reports

  • Local Marketing Solutions for Multi-Location Businesses
  • Enterprise Digital Asset Management Platforms
  • Identity Resolution Platforms
  • Customer Data Platforms
  • B2B Marketing Automation Platforms
  • Call Analytics Platforms
See More Research

Receive daily martech news and analysis.
Martech Today
Download the Martech Today app on iTunes
Download the Martech Today App on Google Play

Channels

  • Advertising
  • Marketing
  • Content
  • Social
  • Commerce
  • Sales
  • Analytics
  • Management
  • Home

Our Events

  • MarTech
  • SMX

Resources

  • White Papers
  • Research
  • Webinars
  • MarTech Conference

About

  • About Us
  • Contact
  • Privacy
  • Marketing Opportunities
  • Staff
  • Connect With Us

Follow Us

  • Facebook
  • Twitter
  • LinkedIn
  • Newsletters
  • Instagram
  • RSS
  • iOS App
  • Google Play

© 2021 Third Door Media, Inc. All rights reserved.

Your privacy means the world to us. We share your personal information only when you give us explicit permission to do so, and confirm we have your permission each time. Learn more by viewing our privacy policy.Ok