Shopify Inc (SHOP)

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You cannot lose more than 100%. LOL

Thanks for the chuckle this morning.

Twitter and Shopify team up to expand social shopping features as consumers splurge through their feeds

New CBD candle launch… #retweet. Shopify and Twitter have joined forces to help tweeters shop while scrolling. Shopify powers online sales for merchants like Allbirds, Heinz, and your local succulent shop. It already controls over a 10th of the global ecommerce market, and now it could get more:

Check in: Twitter’s giving Shopify merchants the option to display up to 50 products on their profiles, plus features like live-stream hauls. Shopify’s paying Twitter for the perks.
Check out: Shopify thrived mid-pandemic when businesses moved online. But the stock has slid 75% this year while sales growth has slowed for four quarters straight.

Viral Tok ad > TV spot… As ad revenue slows, social giants are expanding shopping features to drive more $$. Creatively named launches include “Insta Shop,” “Twitter Shops,” and “TikTok Shopping.” While social commerce still makes up less than 5% of online shopping, it’s growing fast:

4X: Shopify said that orders placed through social apps like Snap and TikTok quadrupled last quarter from a year ago.

THE TAKEAWAY

Big biz is moving from D2C to C2C… from direct to consumer to connect to consumer. It’s not enough for companies to have a website, one-click checkout, and shipping. To really connect, brands have to be where consumers are most connected (i.e.: social). That’s why US social sales could hit $168B by 2027 — nearly five times bigger than last year.