Shopify Entrepreneur Weekly

Hey there!

Here’s what you’ll find in today’s newsltter:

• Latest Ecommerce Updates

• New Shopify themes now available!

• Podcast of the Week – Don’t miss it!

• Photo of the Week – Take a look!

Ecommerce news and updates

Meta Pay is no longer available as a checkout option on Shopify. However, you can still access reports on past transactions made with Meta Pay.

Starting February 18, the Checkout Blocks app will no longer support auto-adding products in checkbox upsell blocks. This feature will be disabled automatically. To offer auto-added free gift promotions, you'll need third-party apps from the Shopify App Store. This change promotes a more transparent checkout experience for customers.

Amazon is projected to report Q4 2024 revenue of $187B, surpassing Walmart's $180B for the first time in a single quarter. While Walmart still leads in annual sales with over $600B, Amazon’s 2024 revenue is expected to reach $638B, breaking the $600B mark for the first time. A key driver of Amazon's growth is its Web Services division, now contributing 17% of total sales and doubling its revenue since 2020.

Shopify reported that two employees stole data from fewer than 200 merchants, potentially compromising customer information. The employees have been terminated, and the incident has been reported to law enforcement.

Shopify reports strong Q4 results, now powering over 12% of U.S. ecommerce and surpassing $1 trillion in cumulative GMV. With nearly $300 billion in GMV and $9 billion in revenue in 2023—both significantly up from 2020—the platform continues to grow rapidly. Shopify also paid $1 billion to partners and facilitated purchases for over 875 million consumers through its merchants.

Shopify has shut down Kanye West's website, Yeezy.com, for violating its terms of service. A spokesperson stated the site failed to adhere to authentic commerce practices and breached rules prohibiting activities like threatening violence or breaking the social contract of commerce.

A podcast worth checking out

Tobi Lütke, founder and CEO of Shopify, joins Leenny's podcast to share insights on building a $130 billion business powering over 10% of U.S. e-commerce. The discussion covers topics like avoiding complexity in entrepreneurship, leveraging unique talents, first-principles thinking, focusing on joy and delight, working with a 100-year vision, using metrics as tools, and the value of curiosity and great product leadership.

Watch on YouTube: Tobi Lütke's leadership playbook: First principles, infinite games, and maximizing human potential.

New themes alert

Redefine by Xotiny – $320 USD 💵

A modern and visually captivating theme designed to highlight your products with stunning imagery and clean typography. Customize your storefront effortlessly with intuitive, minimal settings that give you full control. Built for high performance, this theme ensures a seamless shopping experience to help boost sales. Choose from 3 versatile presets to create a store that fits your brand perfectly.

Nimbus by OranThemes – $300 USD 💵

A versatile and customizable theme designed to elevate your online store. With 40+ adaptable sections, it effortlessly aligns with your brand’s vision, captivating customers and driving sales. Optimized for mobile, it offers features like a flexible mega menu, smart variant display, quick add-to-cart, and advanced filtering to enhance product engagement. Built for performance, this theme ensures lightning-fast speed and an accessibility-focused design for a seamless shopping experience for all users.

Photo of the week

Kendrick Lamar’s Super Bowl LIX halftime performance generated massive media impact, earning over $2.3 million in exposure for Celine jeans and boosting searches for flared jeans by 5,000%. His look also drove significant value for Martine Rose and Nike, highlighting the influence of fashion in major cultural moments.

That's it for today!

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