Shopify's offline gross merchandise value (GMV) in 2022 saw 40% growth year-over-year (YoY).
The Canadian multinational e-commerce firm said in its latest earnings call that consumers are continuing to shift toward brick-and-mortar commerce.
Shopify's overall GMV grew 17% to $61 billion in the most recent quarter.
- Offline GMV grew by 40% over all of 2022.
- Total revenue in Q4 increased 26% YoY reaching $1.7B.
- 27% of all POS activity was conducted by Shopify Plus merchants, an increase of 12% YoY.
- The company's guidance sees revenue growth settling in the "high teens."
- The company also expects consumers to continue spending more on discounted and non-discretionary purchases.
