California, United States, Business News: Genus AI Amid increasing demand, businesses have continued to leverage the Shopify infrastructure to join the eCommerce space that has skyrocketed amid the pandemic. The growth has been facilitated by the changing consumer behavior that will likely stay around after the pandemic.
According to data obtained by Genus AI, between March 2020 and January 2022, the number of Shopify live websites surged 201.53%. At the onset of the pandemic, the platform hosted 1,287,547 websites that have recorded a triple growth to 3,882,345. Therefore, Shopify has added a staggering 2,594,798 new live stores in under two years.
Elsewhere, based on regional distribution, the United States accounts for the highest number of Shopify live stores as of January 2022 at 2,666,627, a growth of 178.53% from March 2020’s figure 957,393.
The United Kingdom ranks second with 156,466 live stores growing 218.81% from March 2020. In March 2020, Australia had 38,298 live Shopify stores growing 165.79% to 101,795 as of January 2022.
Canada ranks fourth with 93,680 live stores, followed by France at 59,560. Germany recorded the highest growth rate between March 2020 and January 2021 at a whopping 480.18%, among the top six countries with the highest number of Shopify live stores.
How eCommerce growth is altering retail space
The research report highlights how the growing eCommerce space is altering the retail sector and the resulting impact. According to the research report:
“The emergence of more online stores has altered how consumers shop but also the range of providers from which consumers can buy products and services. Consequently, this has increased competition in the space.”
Furthermore, the report recommends how businesses can survive the surging competition in the space.
“Overall, businesses are compelled to distinguish themselves from the competition to stand out and attract new customers.”
The growing eCommerce live stores are certainly ramping up competition in the sector. To stay afloat, businesses need to focus on innovative measures to attract more users and retain them.
