Shopify entered the India market in June and experienced immediate success.
Given that e-commerce in India is expected to grow 55% year-over-year for the new few years—a more rapid growth rate than any other country in the world—it shouldn't surprise us to learn that a platform like Shopify's is performing well there. But Harley Finkelstein, Shopify’s Chief Product Officer, managed to catch us off guard with one staggering statistic revealed in an article on YourStory.in.
According to Finkelstein, 1,000 new stores were created on Shopify in India last week alone. For context, Shopify powers 60,000 total and has been around since 2006. "This is a lot more than what we expected the reach to be," he told YourStory.in. "We are really inspired by how creative some of the stores are. And many of these stores did not exist a few months back, and now they are all set out to build great brands using Shopify platform. This is really encouraging for us."
"The ecosystem in India is similar to what we have seen in our home country Canada," he added. "It is great to see these similarities between Indian and Canadian markets for us at Shopify."