The week is coming to an end, and what a week it has been in the ecommerce industry, a lot has happened for the most popular ecommerce platforms. This week saw Shopify stocks surge 25% in June, the CEO of Bigcommerce steps back, and 2Checkout partners with Bigcommerce, Shopify has an amazing office and much more.
Shares of Shopify popped 25% in June, according to data from S&P Capital IQ. The cloud-based commerce platform is a member of the IPO class of 2015, and by all accounts, it looks as if its growth is just getting started. Shopify’s stock price got a boost from the announcements of two big deals in June. First, it was the news that Shopify would be the first ecommerce platform to offer small and medium-sized businesses the opportunity to sell goods on Pinterest using its new “Buyable Pins” feature. Then came news that Shopify will also give its merchants the chance to advertise and sell their products on Facebook via its new “Buy” button. The two companies had been testing the program since September, and Shopify will now be expanding it to more of its customers. Read my full Shopify review to see if it meets your needs.
The pace of chief executive departures surged nationwide in June, and the Austin area kept pace with at least three CEOs moving on. In June, 103 CEO changes were recorded, including notable exits at Boeing, Twitter and Toys R’ Us — the most since January, according to a report from Chicago-based outplacement consultancy Challenger Gray & Christmas Inc. Eddie Machaalani, the co-founder and CEO of Austin’s Bigcommerce Holdings Inc., stepped aside and was replaced by the former president and chief operating officer of HomeAway Inc. Read my full Bigcommerce review here
Louis Vuitton, Chanel and other sellers of luxury goods are improving their online offerings in response to customer demand. Online sales make up 6% of the total for luxury goods, triple the share in 2009, according to McKinsey & Co. Many luxury brands resisted the shift to e-commerce due to a technology gap and security concerns, as well as fears that online sales would dilute their brand. But customers now expect their favorite brands to be online, forcing a change of tactics. Read my article on why so few luxury brands are sold online?
There are reasons Ottawa’s Shopify receives a lot of résumés every week. One is that it is a highly-successful software company, providing e-commerce solutions to around 165,000 on-line vendors around the world. The other is that, well, it’s just a very cool place to work. The design includes things like an indoor, soundproof go-kart and skateboard track. Fully-functional meeting rooms built to look like a giant sauna or a struggling artist’s loft. Hammock chairs, quiet nooks at every turn, and a “bear forest” (filled with bear-shaped beanbag chairs.)
Many e-commerce companies are pressured to enable sales in multiple nations without the benefit of a local presence.
“The global e-commerce market is booming, especially in markets such as China, Brazil and Southeast Asia,” said Kevin Gallagher, senior vice president of global business development for 2Checkout, which is announcing a partnership today with BigCommerce, an international e-commerce provider. The partners will combine 2Checkout’s ability to support payments in around 200 countries and 26 currencies with BigCommerce’s network of 95,000 e-commerce clients in more than 100 countries.
Feature image curtsey of CashCats