PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Etsy and Shopify Give Needed Boost To Small Business During Covid-19

Raymond Pucci by Raymond Pucci
December 24, 2020
in Analysts Coverage, Commerce, E-commerce, Small Business
0
Etsy Shopify Small Business Covid-19 online payment systems

Etsy and Shopify Give Needed Boost To Small Business During Covid-19

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

This year’s early Covid-19 lockdown came crashing down on small retail businesses. But many did survive by successfully pivoting most or all of their business to online sales. E-commerce marketplaces such as Etsy, Shopify, BigCommerce and others have been the salvation for small retailers. Providing an end-to-end online sales process from item selection to checkout to order fulfilment has been a winning formula for the e-commerce marketplaces.

Shopify serves over 1 million merchants and has started its own warehouse and fulfillment infrastructure. Etsy became a go-to website for face masks but carries goods from many micro-retailers, with a total merchant base of over 2 million. Expect to see record sales from e-commerce marketplaces when final Christmas shopping numbers are in.

The following excerpt from a Wall St. Journal article reports more on the topic:

While the year has been a struggle for small businesses, some companies that host their transactions have been soaring. Shares in Etsy Inc. and Shopify Inc., whose e-commerce platforms primarily cater to small businesses, have surged during the pandemic. Etsy has more than quadrupled this year, while Shopify has tripled.

For many small-business owners, the technology platforms have served as a lifeline as their companies shift to a focus on online sales.

Matthew Cummings owns a glass-blowing company that makes custom beer glasses in Knoxville, Tenn. He has been on Etsy since 2012, but didn’t move fully online until the pandemic hit and he had to close the doors of his bricks-and-mortar store. He said his Etsy sales are about 10 times higher this year.

Both companies have kept their pricing competitive during the pandemic. Etsy charges 20 cents per item listed by a vendor and a 5% transaction fee for each sale. Shopify offers tiered monthly plans. The most basic level charges a monthly fee of $29 for sellers and a 2.9% transaction fee.

Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group

Tags: commerceCovid-19Digital Transactionse-commerceetsyshopify
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    5 Ways to Protect Your Financial Institution from a Cyberattack

    5 Ways to Protect Your Financial Institution from a Cyberattack

    May 26, 2023
    traditional banks

    How Traditional Banks Can Modernize Without Risk

    May 25, 2023
    identity fraud

    Javelin’s Identity Fraud Study Highlights the Changing Nature of Fraud

    May 24, 2023
    SASE, security-as-a-service

    Security-as-a-Service Secures
    Distributed IT Models

    May 23, 2023
    mule. real-time

    Early Detection of Mule Activity Requires Real-Time Solutions

    May 22, 2023
    embedded finance, ecommerce

    How Retailers Can Enter the World of Embedded Finance Confidently 

    May 19, 2023
    cross-border

    Cross-Border Trade is a Cinch with the Right Payments Partner

    May 18, 2023
    debit

    5 Reasons Merchants See Debit As
    Top-of-Mind for In-Store Sales

    May 17, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result