Businesses stung by rising costs and lower consumer spending are shying away from Shopify's platform, creating a roadblock in its plan to fix past missteps in overestimating e-commerce demand. The Canadian company added just 71,000 net merchants in the first half of 2022, according to YipitData's research exclusively shared with Reuters. Shopify helps those merchants set up their online stores and payment systems and in return, earns a fee ranging from $29 a month for the basic offering to $2,000 for Plus subscriptions that get access to advanced tools.
Results from online operators suggest that online commerce remains strong despite physical retail coming back after the pandemic.
Alphabet, Amazon, DexCom, Shopify, and Tesla have all announced stock splits this year -- but only one of these giants is a screaming buy.