One of the biggest and the most popular e-commerce platforms, Shopify, currently hosts and runs over a million stores and offers e-commerce solutions to them. There are several experts and content creators that claim that if you want to make money and have a successful enterprise, Shopify is a great option. And I would say it’s true. But with rapid progression and changes in the e-commerce sector, is Shopify really worth it in 2023?
Shopify definitely is worth your investment in terms of time, money and energy. But just like two sides of a coin, there are some disadvantages and minus points too! Therefore, if you are planning to use Shopify for your e-commerce solutions, go ahead with a proper plan of action and research. Reports by Statista have revealed that the e-commerce market share of Shopify is about 11%, securing third rank after WooCommerce and Squarespace.
Oh and another thing – once you do join Shopify, do not expect to start making money instantly. Making money on Shopify is not easy and you really need to be focused and determined as you work on the platform. So be prepared to hustle as the e-commerce industry grows more and more competitive each day. Read the Shopify 2023 Review below to understand how it can be beneficial for you!
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Shopify is an online e-commerce solutions platform founded by Tobias Lutke in 2006 and it helps you set up your online store and sell your products and/or services through it. Shopify also allows merchants to carry out sales in person through Shopify POS. On Shopify, you can start businesses of all nature, categories and sizes.
Shopify provides different tools to help you get started with your venture and to continue doing business through the platform. There are different Shopify plans that you can take up and start building your store. You can test out Shopify tools and other features with a 14-days free trial. In a press release by Shopify, it was revealed that Shopify’s contribution to the Global Economic Activity as of March 2021 has been $319 billion.
How does Shopify Work?
1. Setting up a store:
Shopify is free to use. You will need to create an account and select the pricing plan that suits your business best. Shopify has a variety of pricing plans. These plans vary in terms of features such as transaction fees, staff accounts, and access to advanced features such as gift cards or professional reports. After signing up, you can customise the store design and add products. You can also configure shipping and payment options.
2. Adding products:
Shopify’s product management tools make it easy to add products to your online store. Shopify’s product management tools allow you to create product pages with detailed descriptions, high quality images, pricing options, variants, size, colour and colour variations. You can also monitor inventory levels and get alerts when stock is low. Shopify offers the ability to organise products into collections. This makes it easier for customers to browse and find what is important to them.
3. Managing orders:
Shopify’s order management tools allow you to manage your customers’ orders once your store is online. These tools enable you to accept payments, create shipping labels, and notify customers about orders. It is possible to view orders and track inventory levels in real time, making it easier for you to manage your business operations.
4. Customising your store:
Shopify offers a variety of customisation options to allow you to customise your store’s look and functionality to meet your business needs. Shopify offers hundreds of pre-designed themes. You can also customise your store using the built-in design tools. These include drag-and drop interfaces and pre-built sections. Shopify offers over 6,000 apps in its app store that can be used to add additional functionality to your store such as email marketing and social media integration.
5. Growing your business:
Shopify offers a range of tools and resources that will help you grow your business. These include marketing and SEO tools as well as analytics and reporting. You can also integrate with social media platforms and marketplaces.
Shopify offers a variety of marketing tools, including email marketing campaigns, social media ads and Google Smart Shopping campaigns. Shopify also offers analytics and reporting tools that allow you to monitor the performance of your store and make data-driven sales decisions.
Shopify offers 5 plans after a 14-days trial period and these are:-
- Shopify Lite – Available at $9 (USD) per month and is best suited for those looking to generate and boost sales from an already existing online store.
- Basic Shopify – Available at $29 (USD) per month and it is best for the majority of users.
- Shopify – Available at $79 (USD) per month and is best for generating sales and analytical reports of your enterprise’s performance.
- Advanced Shopify – Available at $299 (USD) per month and is best for large e-commerce enterprises.
- Shopify Plus – Available at $2000 (USD) per month and is best suited for major businesses in the e-commerce industry.
Did you know that retail is among the top three industries selling on Shopify Plus? Enlyft revealed in its reports that three biggest industries on Shopify Plus include Retail (17%), Apparel and Fashion (11%), and Computer Software (6%).
1. It’s easy to use:
Shopify is easy to use and requires very little technical knowledge. Shopify has a simple interface that makes it easy to create and manage an online store.
2. A wide range of features are available:
Shopify allows businesses to tailor their online store to their needs with a variety of features. Shopify offers a range of design templates and product management tools. You can also integrate with third-party apps or services.
Shopify was designed to scale and grow with your business. Shopify offers several pricing options to suit all types of businesses, small and large. You can upgrade your plan as your business grows to gain access to more resources and features.
4. Reliable and secure:
Shopify is committed to security and offers a secure platform that protects customers’ data and transactions. Shopify is reliable with a 99.98% uptime, so your online store will always be accessible to customers. This builds trust with customers and protects your business against fraud and security threats.
Shopify’s mobile-responsive design allows customers to access your online store via their mobile devices. This is especially important in today’s mobile-first society, where more people shop online via their smartphones and tablets. Mobile-friendly websites can help you rank higher in search engines and bring more customers to your online store.
Shopify allows integrations with third party apps and services. These include payment gateways, shipping providers, marketing tools, and more. Businesses can easily integrate Shopify with third-party apps and services to enhance their online stores and streamline their operations. Shopify can be integrated with popular apps such as Mailchimp, Facebook and Google Analytics to improve your marketing and sales strategies.
7. Customer support:
Shopify offers 24/7 customer service via live chat, phone and email. Shopify also has a vast knowledge base that includes tutorials, FAQs and user guides. This will help you solve any problems and teach you how to use the platform. This will save you time, money, and help improve your online store’s performance.
While Shopify has many advantages, there are also some disadvantages that businesses should consider before using the platform. Here are some of the main disadvantages of using Shopify:
Shopify is not the cheapest e-commerce platform on the market. While the basic plan is affordable, businesses that require more advanced features or want to use third-party apps and services may have to pay additional fees, which can add up over time.
2. Limited design options:
While Shopify offers a range of design templates, the customisation options are limited compared to other platforms. This can make it difficult for businesses to create a unique and fully customised online store.
3. Transaction fees:
Shopify charges transaction fees for businesses that use a third-party payment gateway instead of its own payment gateway, Shopify Payments. This can add up over time and increase the cost of running your online store.
4. App dependency:
While Shopify offers a range of integrations with third-party apps and services, businesses may become too dependent on these apps, which can be costly and may affect the performance and stability of your online store.
5. Limited control:
Shopify is a hosted platform, which means that businesses have limited control over their online store’s hosting and server settings. This can be a disadvantage for businesses that require more advanced customisation options and control over their online store’s performance.
6. SEO limitations:
While Shopify offers some SEO tools and features, businesses may find it challenging to optimise their online store for search engines compared to other platforms. This can affect your online store’s visibility and ranking in search engine results pages.
Is Shopify reviews worth it?
Shopify Reviews is a built-in customer review feature offered by Shopify that allows customers to leave feedback and reviews about products they have purchased from your online store. The feature can be a valuable addition to your online store as it helps to build trust with potential customers, increase sales, and improve your search engine rankings.
Here are some of the benefits of using Shopify Reviews:
1. Build trust:
Customer reviews can help build trust with potential customers by providing social proof that your products are high quality and worth purchasing. When customers see positive reviews from other customers, they are more likely to trust your brand and make a purchase.
2. Increase sales:
Customer reviews can also help increase sales by providing valuable information to potential customers about the benefits and drawbacks of your products. This helps customers make informed purchasing decisions, which can result in more sales for your business.
3. Improve search engine rankings:
Customer reviews can also help improve your search engine rankings by providing fresh, relevant content that search engines love. This can help boost your online store’s visibility and attract more traffic to your website.
4. Identify areas for improvement:
Customer reviews can also provide valuable feedback that can help you identify areas for improvement in your products, customer service, or overall shopping experience. This can help you make changes and improvements to your online store that will help you better meet the needs of your customers.
We hope that the article was helpful in understanding Shopify and how it can or cannot benefit your business endeavour. Being one of the biggest e-commerce solutions platforms, Shopify strives to provide the best services possible.
Did you know that email marketing at Shopify is responsible for generating the most referral conversions? Shopify has revealed that emails are responsible for about 4.29% of conversions on the Shopify stores.
While there are several pros to it, there are some cons to it. And while it is still worth it in 2021, it also depends on several factors of your business! So choose wisely to take your business towards success!
Can I really make money with Shopify?
Yes, it is possible to make money with Shopify. Many successful e-commerce businesses have been built using the Shopify platform.
How important are reviews on Shopify?
Reviews are crucial for any online store, and Shopify is no exception. Positive reviews can help build trust with potential customers and increase sales.
What are the disadvantages of Shopify?
Some potential disadvantages of Shopify include limited customization options, transaction fees for using external payment gateways, and the need to pay monthly subscription fees. However, many merchants find that the benefits of using Shopify outweigh these drawbacks.
We are Team EMB the voice behind this insightful blog.