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HomeNEWSNZ’s Shopify retailers contribute close on $5 billion to economy

NZ’s Shopify retailers contribute close on $5 billion to economy

Shopify

E-commerce provider Shopify reveals that New Zealand online retailers have contributed close on $5 billion to the economy.

In an ‘Economic Impact Report’, the latest by Shopify, New Zealand merchants that use the online provider have contributed $4.8 billion in economic activity.

This is a 39.7 percent increase from 2020 where merchants contributed $2.2 billion.

Over 19,600 jobs were also created through merchants in 2021.

In 2020, merchants created 13,000 jobs, an increase of 50.8 percent in over a year.

Read more: Shopify to help empower businesses on their digital journeys.

“Shopify merchants in New Zealand supported nearly 20,000 jobs and generated over $3.4 billion in economic activity in 2021, demonstrating their resilience and adaptability amid the ongoing transformation of modern retail,” says Shaun Broughton, Managing Director of Asia Pacific.

“We couldn’t be more proud to support Kiwi businesses with everything they need to build exciting direct to customer brands and products for customers all over the world,” he adds.

Allbirds use Shopify for their e-commerce aspects of retail.

Popular New Zealand companies, such as Allbirds, use the online provider for their e-commerce aspect of retails.

As a whole, merchants across the world that use Shopify have supported the economy and the workforce, having created five million jobs in 2021.

In total, Shopify merchants have generated $684 billion and contributed to the economy, a 45 percent increase from 2020.

Small businesses that use Shopify have generated a total of $16.2 billion in sales.

The latest report by Shopify also revealed that the company has helped businesses increase their earnings by 45 percent, despite the Covid-19 pandemic.

Previously, James Taylor, founder and CEO of Particular Audience, explains that heading into e-commerce will help retailers in the face of inflation.

“Retailers need to switch gear into smarter conversion retail,” he says.

Taylor says that e-commerce is the future of retail shopping, with endless amounts of data online that can help build profit.

Shopify is now one of the largest providers for e-commerce with a revenue of $2.93 billion.

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Bernadette is a content writer across SCG Business titles, The Register and Idealog. To get in touch with her, email bernadette.basagre@scg.net.nz