AnIntroductionThere’sashifthappeningintheworldofcommerce,andwe’veallfeltit.2020hasacceleratedtheindustrybyadecade,permanentlyalteringthewayentrepreneursstart,run,andgrowbusinesses,aswellashowconsumerschoosetoshopandpay.We’reonthebrinkofaneweraofcommerce.Considerthisreportyourcrystalballintothefutureofthisindustry.Commerceismorethanatransaction;it’saninteraction.It’sarelationshipbetweenabusinessanditscustomers.That’swhyweporedoverdatafrommorethanonemillionmerchantsonShopifyandcollectedsurveyinsightsfromconsumersallovertheworldtogetthefullpictureofwhat’scoming.We’veunlockedfivekeypredictionsbasedonthetrendswe’reseeingfromourdata.Spoileralert:bepreparedforindependentretailersandthenextgenerationofconsumerstochangecommerceasweknowitforever.HarleyFinkelstein,PresidentofShopify03KeyINSIGHTSBASEDONMERCHANTDATA.COMPARISONSOFSELECTGLOBALMARKETS.*ForinformationonmethodologyseeappendixKeyPredictionsYoungconsumerswillchangethebusinesslandscapeasecommercechargesahead.Physicalretailasweknowitwilltransform,givinglocalbusinessesnewadvantages.Consumerswanttoshopindependent.Businesseswilladapttomakethateasier.Moreconsumerswillvotewiththeirwallets.Modernfinancialsolutionswilldisruptbusinessandconsumerbanking,finance,andlending.4915232604PREDICTIONYoungconsumerswillchangethebusinesslandscapeasecommercechargesahead.Thepandemickick-startedabehavioralshifttoecommercethatyoungconsumerswillcontinuetodriveforward.Brandsneedtostrengthentheiromnichannelstrategies,investintheirsocialmediapresence,anddemonstrateauthenticitytohavestayingpower.05Consumersarehesitanttoreturntoin-storeshopping.FUTUREOFCOMMERCEOfconsumerssaidtheywillshoponlineregularlyinsixmonths’time;significantlyfewer(57%)saythey’llshopin-storeregularlyinthenextsixmonths.79%Ofconsumershaveshoppedonlinesincethepandemic,comparedto65%whohaveshoppedin-store.84%Overhalfofconsumersavoidedbusyshoppingtimesorcrowdsinthepastsixmonths,and46%saidtheyfeeluncomfortableshoppingin-person.53%NewstorescreatedontheShopifyplatformgrew71...
