Shopify To Enter Into Cannabis Business
Well-known e-commerce platform, Shopify, which allows retail sellers to sell their products directly to the customers online, is all set to start its new vertical in Cannabis-selling domain. As per the Chief Operating Officer of Shopify Harley Finkelstein, with Canada’s recent recreational legalization of weed, retail sellers are selling them in their stores. This is the opportunity which we want to grab by providing these sellers with an online platform for selling.
Shopify, a Canadian based company itself is a prestigious name in the e-commerce market and has served famous personalities like Kylie Jenner who runs her brand online on Shopify, from which she has earned 1 Billion $. Adding to the list Kanye, West, Drake also runs their popular stores through this platform. By starting a Cannabis section, Shopify hypes customers of weed fame like Aurora Cannabis and Canopy Growth.
In an interview with CNBC, Harley said that the reason behind starting this Cannabis selling venture initially in Canada is the fair clarity there and weed is an all the year selling product which people like to buy. With our new vertical we are inviting and offering an online medium to Canadian weed sellers to sell their products online. Our selling point will be the same as our original motto – To assist sellers in selling, keeping and finding their potential customers.
Shopify’s customer base has increased from 600,000 to 820,000 last year, and with its new cannabis-selling feature, the company has played her first card in way of earning and growing more. Cannabis is a large market and with countries like British Colombia, Province of Ontario and the largest licensed produce of this herbal drug, the majority of countries are in the way to legalize weed. Shopify is ready to serve all those countries where cannabis is being legalized, their platform is all set to assist the sellers. Shopify is determined to be a trusted and popular platform in cannabis section so that whenever a weed-seller thinks about selling online, Shopify comes to his mind. Harley told this in an interview with ‘Mad Money’. Meanwhile, the stock value of this e-commerce platform has increased and closed at 1.11 % at $232.37.