Shopify Merchant Survey: These three businesses won very low-key in 2020!

Last October, Shopify surveyed nearly 5,000 merchants to understand their performance over the past year and their expectations for the future, and discovered some development trends.

There is no doubt that under the influence of the epidemic, businesses such as protective medical care, casual clothing, and home fitness have developed strongly in 2020. At the same time, Shopify has also discovered some businesses that are making a lot of money in silence. Sellers, come and have a look!

Health and beauty business

Shopify’s survey data shows that across all business types, 38% of founders are satisfied with their performance over the past year, while in health and beauty, this proportion reaches 55%.

If we split the health and beauty businesses, the outbreak has undoubtedly greatly stimulated the sales of cleaning products such as hand sanitizers and soaps; on the other hand, in the beauty sector, consumers have shifted their beauty spending to home spa and salon experiences.

79% of health and beauty business founders are very optimistic about the development prospects in the next few months . Shopify also stated that some trends that emerged in 2020 will continue to be popular this year, and the development prospects of the health and beauty industry are promising.

Subscription Business  

At the beginning of the epidemic, there were reports of a surge in demand for subscription businesses in industries such as food and beverage and education.

From Shopify’s survey results, it can be found that in terms of subscription services, 63% of founders are satisfied with the company’s performance last year.

The most commonly used subscription models for these companies are the replenishment model and the membership model . The replenishment model means that subscribers receive the same or similar products every cycle, while the membership model means that subscribers can get exclusive products or discounts.

Capture both B2B and B2C

The situation in 2020 is volatile, and multi-channel sales can, to a certain extent, help sellers deal with emergencies and successfully complete product delivery.

Shopify research found that 62% of founders of companies that run both B2B and B2C businesses were satisfied with their performance in 2020, compared with only 53% of B2C founders.

Among companies that conduct both B2B and B2C businesses, 24% of business owners said they plan to expand their business into new product areas in the future .

The world is still shrouded in the shadow of the epidemic, and 2021 will still be an extraordinary year; consumer demand is constantly changing, and 2021 is also an unknown year. Sellers should also pay more attention to business development trends and consumer changing needs, so as to prepare for 2021 with more confidence!

Sellers who want to join the group for communication, please add the editor’s WeChat Ennews_, and we will pull you into the independent station seller communication group!

Shopify

Health and Beauty

Subscription Business

B2B

B2C