Author: Dailyusastory

In a sense, Shopify’s financial overview is similar to Amazon’s. Both derive the most profit not from their core products but from complementary services. Amazon’s cloud computing division, an outgrowth of its marketplace infrastructure, accounts for over 60% of gross profit. Similarly, fees to access Shopify’s core SaaS platform — called “Subscription solutions” — accounted for less than half of gross profit in Q1 2024. Shopify’s “Merchant solutions” — almost entirely Shopify Payments, its credit card processing service — produced roughly 70% of revenue in Q1 and 56% of gross profit. Total revenue for Q1 — Subscription solutions plus Merchant…

Fraud is something every business owner has to contend with. A recent Cybersource report found that 2.9% of all ecommerce revenue is lost to fraud—meaning out of every $10,000 your business generates, you could potentially lose almost $300 to scammers. A fraud prevention strategy helps minimize losses and deter scammers from targeting your online store. With the right fraud prevention measures in place, you can block fraud automatically, saving you hours each week manually reviewing orders. This article shares how to create one, the types of fraud to look out for, and effective fraud prevention measures that will protect your…

As a business owner, you’re intimately familiar with sales. But when, specifically, does a sale occur? Is it when you receive cash or when a customer payment hits your bank account?  Or, is it when you deliver an item, perform a service, or when the customer receives your invoice? Recognizing revenue is not just posting the money that flows in. Various factors must be considered, and specific events must occur. Fortunately, accounting rules spell out when to record revenue, and this article covers the details. What is revenue recognition? Revenue recognition is a set of accrual accounting rules (we’ll discuss…

In today’s data-driven world, having quick and easy access to accurate customer information can make or break your marketing strategy. If you have access to preview the key attributes of your customer data, allowing you to make informed decisions on the fly. With our new Attribute Preview Feature, you can do just that—streamlining your workflow, enhancing your insights, and boosting your campaign effectiveness like never before. As a marketer, have you ever wondered: What values do we have for locality or city? What values do we have for original source? Same for other custom attributes Need help with your Customer…

Lukas Tanasiuk once paid a firm to redesign his Shopify site, a seller of electric scooters. The result was slow page loads and his efforts to improve them. What he found, he says, was a lot of false claims. “I discovered corruption among folks who say they are page-speed optimizers,” he told me. Page-speed optimization became Tanasiuk’s next opportunity. In 2023 he launched The Nice Agency, focusing on Shopify page loads. He and I recently discussed his journey from merchant to agency owner, slow Shopify sites, and more. The entire audio of our conversation is embedded below. The transcript is…

Figma CEO Dylan Field announced that his company would temporarily disable its new AI features. The decision comes after allegations that the tool was reproducing designs strikingly similar to Apple’s Weather app, raising concerns about whether Figma’s training data contains copyrighted content. If Figma’s tools contain copyright material, then so will its outputs. That could leave users vulnerable to legal issues.  Figma is a collaborative web design app which recently rolled out AI-powered features at its recent Config conference. It embeds several off-the-shelf AI models into Figma’s own systems, offering: AI-generated content: Produces relevant text content directly in design mockups.…

Can AI be funny? A new study by psychology researchers from the University of Southern California tested ChatGPT’s comedic ability with surprising results. ChatGPT can write code, coherent content, and even poetry. But can it write content that captures the hard-to-quantify concept of humor? It’s easy to evaluate if text is grammatically correct or if code works, but humor is far more subjective. The researchers ran two experiments to see if people found ChatGPT’s content funny. For the first experiment, they hired 123 US-based laypeople (i.e. not professional comedians) on Amazon Mechanical Turk. The participants were asked to complete 3…

Since launching as a paid channel in 2012, Google Shopping ads have become a favorite for shoppers and advertisers. These ads are among Google’s most clicked offerings, responsible for 76.4% of all retail searches and spending in the US.  Google Shopping ads have steadily evolved, becoming smarter, easier to set up, and broader in reach. This guide provides a detailed walkthrough on setting up your products with Shopping ads and explains how to leverage their technical advances best.  What are Google Shopping ads? Google Shopping ads, also known as product listing ads (PLAs), are paid advertisements that allow retailers and…

Scaling a new venture will take you through some exciting milestones: your first sale, your first paid employee, your first physical location. As your business grows, you may find yourself making plans to expand your inventory, launch a new product line, or even take on a new geographic market or customer segment. But growth comes with costs, and your business’s initial capital can get you far. But there are likely going to be cases where you’ll need some fresh financing. Planning may be the difference between successfully scaling to the next profitable level—or growing your way into an unexpected bankruptcy.…

Is your current bank failing to keep pace with your business’s growth?  Perhaps its high merchant service fees are cutting into margins, restrictive loan rates are stunting your growth, or payroll processing services are a pain. These are just a few of the reasons businesses outgrow their banking partners.  Choosing a new bank that better aligns with your company’s needs can be a positive move. But changing banks requires careful planning to avoid cash flow disruptions and maintain business continuity.  Follow these steps to switch banks without a hitch: Find your new banking service Open your new bank account Make…