The Future of Retail

Kylie Jenner doesn’t only have “momager” Kris to thank for the success of her eponymous beauty brand. Her billion-dollar company Kylie Cosmetics is powered by e-commerce platform Shopify (SHOP), which now powers over 800,000 online merchants.

Shopify COO Harley Finkelstein, joining Yahoo Finance’s The Final Round, said that success does not mean the future of retail is only online.

“What we actually have come to realize for the last couple of years is the future of retail won’t just be online nor will it be offline,” says Shopify COO Harley Finkelstein. “It’s going to be everywhere. And it will all be about consumer choice.”

It is easy to view companies like Shopify as enablers of an industry destined to break the traditional retail space. Shopify got its start fifteen years ago, with the intention of serving digital merchants interested in simplifying their businesses and online marketplaces. From advertising to shipping, or payments to customer engagement, Shopify offers a host of services to online retailers hoping to jumpstart their brands.

“More and more, the transition, for Shopify at least, has been that we’ve moved from just being an e-commerce provider to being a provider of retail everywhere,” Finkelstein said.

Finkelstein said Shopify helps its brands sell not just online, but in brick-and-mortar stores as well.

Questions about how shopping has evolved to include e-commerce — and perhaps, how it has ostracized brick-and-mortar retailers — were the impetus behind Shopify’s first State of Commerce report, which it released last week.

Finkelstein says the report is to inform sellers what they need to know about the current retail environment, and in it, the company details ways in which e-commerce and brick-and-mortar retail are evolving in tandem.

Finkelstein said the report found that shoppers spend more money online than offline and that many shoppers like to try in the store but buy online.

“If they want to buy online, they’ve got to have a great online store. If they want to buy in-person, they have to have a great point-of-sale system in their brick-and-mortar location,” Finkelstein said.

More from author

With Just £900 Left In His Account Jordan Hill Built A Six Figure Business

Ambitious entrepreneur, Jordan Hill, took a leap of faith after finding himself unemployed and moving from Scunthorpe...

Shopify Cracks Down On Fraudulent Website

Shopify Cracks Down On Fraudulent Website: The group, which is selling the cards online, is not a...

Big Brands Are Leaving Amazon For Shopify

Big Brands Are Leaving Amazon For Shopify - When Amazon’s executives heard the news, they couldn’t believe...

8 Hours Of Sleep Is Important To Your Success

8 Hours Of Sleep Is Important To Your Success - The Shopify CEO shared his opinion in...

Related posts

Advertismentspot_imgspot_img

Latest posts

Entrepreneurs Failure Stories Are Arguably Just As Important As Their Success Stories

Highlighting the benefits of super successful startups that became a unicorn is common in media. Stories of startups becoming unicorns or entrepreneurs making a fortune...

Shift Away From Cash And Credit Cards To Digital Wallets

By 2025 digital wallet use will account for just over half (52.5%) of ecommerce transaction value worldwide, versus 48.6% in 2021, according to the...

How To Start A Drop Shipping Business In Canada?

You should take several steps to launch an e-commerce venture. First, you should find a niche. Next, you should choose a province to headquarter your...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!