Shopify adding fewer merchants to its platform

Shopify added 71,000 net merchants to its online platform during the first six months of the year, well below its peak of 314,000 last year. “Unless Shopify adds roughly twice as many merchants in the second half of 2022 as the first half, we estimate they could be on pace for the lowest net merchant additions in a year since at least 2018,” YipitData analysts said.