It doesn’t come as a big surprise, but e-commerce seems to be doing great. What I especially like is the growth of Shopify.
In a series of tweets, Shopify COO Harley Finkelstein point out that between March 13 and April 24, the number of consumers who bought something for the first time “from any Shopify merchant grew 8% and from merchants, they’d never shopped at before by 45% compared to the six-week period immediately prior.” During the same period, he pointed out that the “new stores created on Shopify grew 62%.” (source)
This chart represents a future where local businesses are important and supported by Shopify and Square. Big tech will always win, but we can try to build a society where we support local entrepreneurs.
The recession will be a challenge for this sector, but it could also motivate smaller companies to innovate.
Companies who don’t embrace the new world will have it very difficult.
Last couple of weeks we created new habits in rapid tempo, some of them made our life easier and I do believe they form a new system in our daily routine.
We made the same progress in 8 weeks as the last 10 years. This acceleration won’t stop.
Have a great week!