In this article I’m going to tell you what happened to Shopify Exchange Marketplace and what you can use instead.
I’m going to take you through what led up to the decommissioning of Shopify Exchange Marketplace and why I think it happened. Then I’m going to give you 2 alternatives that you can use instead.
Before we get into it, if you want to watch a video on this article and other topics look below and be sure to subscribe.
1. What is Shopify Exchange Marketplace?
Shopify Exchange Marketplace was Shopify’s default marketplace where shopify business owners could list and sell their business and buyers could buy these businesses.
2. How does Shopify exchange work?
The marketplace was monetized through taking a commission from the seller when a deal was finished.
3. Is it worth it to buy a dropshipping business & Exchange Marketplace Reviews
The marketplace wasn’t a hugely popular place for people to buy and sell and was notorious for fraudulent buyers and low quality businesses. That’s why some brokers called it “La Basura”, or the rubbish in Spanish.
That being said every now and then a diamond could be found in the rough. However, that’s no longer possible as Shopify decided to decommission the entire marketplace.
4. Why Did they Decommission Shopify Exchange Marketplace?
Since November 2021, when ecommerce sales worldwide were at an all time high due to the covid pandemic Shopify’s share price hit $169 per share. This was pretty extraordinary for the company.
However, since November 2021, in line with the fall in tech stock prices Shopify lost almost 80% of its value and now sits at roughly $34 a share.
5. Shopify Exchange Marketplace Fees
My assumptions are that with this drop in share price there is a refocusing on what the company does best and their core business model, which of course is their software, store builder and the commissions they take on every single transaction businesses make on their platform.
Shopify Exchange Marketplace likely didn’t bring in anywhere even close to 1% of what their core business brought in so it makes sense that they let this part of their business go.
6. What Is the Future of Shopify?
If there’s anything Im not concerned about, it is Shopify failing. Shopify is a fundamental tool for the online world and for online businesses and won’t be going anywhere anytime soon.
Last week Shopify posted a 22% increase in their third quarter revenue to $1.4B from the year earlier which is impressive considering the ecommerce boom 2021 saw.
They have just acquired a storefront design tool called Remix and the CEO and founder Tobias Lutke just bought $10M worth of stock, and there’s nothing like increased revenue and founder buybacks to give you hope that a company is set for a comeback.
7. What does this mean for the Business Buying industry?
I don’t expect a big shake up in the industry as I don’t believe there were many big deals being done on Shopify Exchange Marketplace.
The deals that were done there will however likely go to other marketplaces and brokerages. If you don’t know what these marketplaces look like and how they work I’ve made videos on them so feel free to take a look at those and subscribe for more reviews.
The biggest winner in the decommissioning of Shopify Exchange Marketplace will be brokerages I think. Brokerages like Ecommerce Brokers. We’ve been building, buying and selling online businesses now for over a decade and completed millions of dollars worth of deals.
So if you’re looking for a broker to sell with, look no further and contact us on our website for a free valuation.
If you are looking for a business to sell and need a hand we can help you there as well. Follow the link in the description below.
8. Shopify Stores For Sale Cheap
If you’re looking to buy affordable Shopify stores go to Ecommerce-Brokers.com where we have many strong and profitable Shopify stores to buy!
Now I have a question for you. Have you ever used Shopify Exchange Marketplace? Let me know in the comments below