According to the Small Business Trends report on Friday, Shopify’s new marketplace tends to connect with businesses for selling purposes with the entrepreneur. It also comes with a feature that will let people offer Gift A Business to aspiring business persons.
Gift A Business is for encouraging people to make a purchase of the established eCommerce shop for gifting to small business-minded people. Shopify runs an exchange marketplace portal as a digital bazaar, connecting business sellers with aspiring entrepreneurs.
The Gift A Business will start on Monday, Nov 16, and is going to be available across the holiday seasons. Businesses at the exchange can even start at a low rate of $50.
On this matter, Nicole Martins Ferreira, the Marketing Manager of the Exchange Marketplace, said, “Every person who’s always dreamed of starting a business needed their first push. Maybe it’s a friend who believes in them or a parent who supports their dream.”
“We’re launching Gift A Business to encourage friends and family of potential entrepreneurs to support a person’s desire to pursue something bigger than themselves,” she added.
Shopify’s Exchange Market made its first launch in 2017 and has an inventory above 10000 Shopify stores with a range of domains like health, beauty, fashion, home, etc.
Whoever receives a shop through this Gift A Business program will be provided with a complimentary starter pack along with a business certificate and required tools.
Many current businesses come with a sale that includes a German cosmetic shop with the asking price worth $500 and reported with the $700/month of profit range on the sales volume of $2400/month.
Shopify’s recent partnership with Affirm is to offer the customers a Buy Now Pay Later (BNPL) choice. Shopify’s products for BNPL, Shop Pay Installment, aspire to capitalize on the increasing popularity of the installment credits that have achieved more tractions for the pandemic situation.
D2C or Direct-to-customer is another popular trend ongoing during this digital shopping shifting period in this situation. With the starting of the pandemic situation in March, the need for the channels to purchase the consumer packaged reached around 50.1%.