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If you've shopped at a small online business, you've probably used Shopify. If you have a small online business, it's likely you've used Shopify to market your business, process payments and manage...
At one point, Shopify was generating a $1 billion operating loss at the start of 2023 and had negative free cash flow. Now, the company is getting back to basics with its two core product platforms.
Shop Pay (formerly Shopify Pay) is a checkout and payment method developed by Shopify. Users add shipping and billing information to a Shop account, which enables one-click checkout on online stores that offer Shop Pay. In 2024, Shopify reported that Shop Pay had over 150 million users worldwide. [1]
Shopify is the name of its proprietary e-commerce platform for online stores and retail POS (point-of-sale) systems. The platform offers retailers a suite of services, including payments, marketing, shipping and customer engagement tools. [3] As of 2024, Shopify hosts 5.6 million active stores across more than 175 countries. [4]
Same-store sales is a business term that refers to the difference in revenue generated by a retail chain's existing outlets over a certain period (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. [1]
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