Shopify has announced its financial results for the 3rd quarter gross profit has increased 50% from the same period of the previous year
On October 28, Canada's online shopping major Shopify announced its financial results for the 3rd quarter of 2021. Sales increased 46% from the same period of the previous year to 1.123 billion dollars (approximately 127.5 billion yen), gross profit increased 50% from the same period of the previous year to 60.89 million dollars (approximately 68.9 billion yen), and GMV (guaranteed minimum value) increased 35% from the same period of the previous year to 41.8 billion dollars (approximately 4.7279 trillion yen). It is said that Shopify has launched "Shopify Markets" a new solution in September 2021 and started full-scale cross-border e-commerce support. In addition, they have expanded the alliance with the short video "TikTok" and started to provide new shopping functions to sellers in some regions who have accounts for the advertising platform "TikTok For Business." This allowed sellers to add a "shopping" tab to TikTok's profile, allowing customers to purchase products directly within the app.
Sources: The Company's Financial Results Announcement Material "Shopify Announces Third-Quarter 2021 Financial Results " (October 28, 2021)
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