The news: Shopify CTO Allan Leinwand will step down from his role next month, per The Information, marking the third executive departure in less than six months as the company recalibrates its strategy amid a difficult economic landscape.
How we got here: Shopify has made a number of moves aimed at shoring up revenues as ecommerce growth slows from its pandemic heights.
Looking ahead: These initiatives may not be enough to dispel the threat that Amazon’s Buy with Prime poses to Shopify’s business.
That said, Shopify is unlikely to see a mass exodus of merchants, even with the price increases, given the hassle of switching platforms and the wide range of solutions the company offers. The ecommerce platform is also well-positioned to benefit from continuing US ecommerce sales growth, which we expect to stay in the double digits this year through 2026.
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