estimated revenue of a shopify store
- Hogan here, excited to share how to find out a Shopify store's sales and popular products
- Using a Chrome extension called Ali Hunter, available on the Udi website
- Helps with dropshipping and e-commerce brand creation
How to Use Ali Hunter:
- Click on Live Sales to see a store's sales and popular products
- Udi founder claims to make 750,000 to 1 million AUD daily
- Verify sales by purchasing from a store and seeing product appear on Ali Hunter
- Can also see when last sale was on the Udi website
- Use Ali Hunter to see a store's ads and ad creatives, reverse engineer success
- Can also use Facebook page transparency and ad library to see a store's ads
- Use Ali Hunter to find suppliers and browse top trending products
- Loom Deodorant and other stores making sales every second
- Use TikTok to find stores and see their sponsored ads and live sales
- See buyer reviews and similar products to improve own products
- Can easily download product images and see sales analytics on Aliexpress website
- Ali Hunter is a valuable tool for product research and e-commerce success
- Use it to find popular products, successful ad creatives, and suppliers
- Reverse engineer success and improve your own products and brand
- Hope to make more advanced tutorials in the future
How to Know How Much a Shopify Store is Making
In this article, we will explore various methods and tools to estimate how much revenue a Shopify store is generating. Whether you are a dropshipper, marketer, or simply curious, understanding a store's revenue can provide valuable insights into the industry and your competitors.
1. Buy the cheapest product strategy:
- Purchase the cheapest product on the first of the month
- Get an order number ID
- 30 days later, buy the same cheap product
- Get a different order number
- Estimate order volume by multiplying average order value by the number of orders
- Use the difference between the two order numbers to estimate total revenue
2. Koala Inspector:
- Great for dropshippers
- Provides shop structure, product statistics, newest products, best sellers, and export options
- Pricing options for more features
- Popular tool with 72,000 downloads and 95,000 weekly product reveals
- Allows analysis of different websites
- Provides statistics on estimated revenue, global rank, country rank, audience demographics, interests, competitors, and similar sites
- Useful for creating targeted ad sets and understanding a store's revenue
- Works better for larger stores with more traffic
4. Facebook Ad Library:
- Comprehensive database of all ads currently running across meta technologies
- Select country and category, then search for competitors
- Provides insight into their ad spend and revenue generated from Facebook ads
- Manual method with some guesswork
By using these methods and tools, you can gain a better understanding of how much revenue a Shopify store is generating. While some methods may be more manual and require some guesswork, they can still provide valuable insights into the industry and your competitors. Don't forget to test and look up any hiccups along the way with using these tools, as not all methods and tools may be fully reliable.
The 10 biggest Shopify stores - They have insane revenue!
Shopify is a major player in the e-commerce world, hosting millions of individual stores and generating billions of dollars in annual turnover. But which are the biggest Shopify stores out there? In this article, we will take a look at the top 10 biggest Shopify stores worldwide.
1. Kylie Cosmetics:
- Owned by Kylie Jenner, this store had a head start due to Jenner's celebrity status and was a smashing success.
- Estimated to make hundreds of millions of dollars in annual turnover.
2. KKW (formerly Kim Kardashian West):
- Started as a copy of Kylie Cosmetics but has since become a successful brand in its own right.
- Estimated to make several hundred millions of dollars in annual turnover.
- A fairly new brand that understood their niche, social media marketing, and the power of e-commerce.
- Rivals giant companies like Nike, Puma, and Adidas and has grown into a billion-dollar company within 10 years.
4. Red Bull:
- Trusted Shopify as their e-commerce solution and leverages all the customization tools available.
- Most Red Bulls are sold in convenience stores and supermarkets, but they also have a successful e-commerce business.
- Realized the shift towards shopping online and now makes millions of dollars every year just by selling their products online.
- A general trend that we are seeing more and more - traditional companies discovering how to utilize e-commerce.
6. Whole Foods:
- Acquired by Amazon and sells their products online very successfully, especially during the pandemic when people wanted to avoid going to physical stores.
7. Kraft Heinz:
- A truly global player with many brands and sub-brands that would be silly not to offer the option to buy their products online.
- Another multi-billion dollar company that grew their business outside of e-commerce but recently discovered its importance.
- Has enough resources to make sure their Shopify store becomes a smash hit.
9. Penguin Books:
- A typical item to sell online, and it makes total sense for Penguin Books to offer their entire assortment online.
- A bit surprising that people still go to physical bookstores, but apparently, a lot of people still like to do just that.
- Sells skincare, makeup products, and more, and does incredibly well both in physical stores and through e-commerce sales.
- Has hundreds of millions in turnover every year through their website alone.
These 10 biggest Shopify stores are some of the largest in the world, generating enormous amounts of revenue every year. Traditional companies are discovering the importance of e-commerce, and Shopify is a reliable and customizable solution for any business looking to expand its online presence.
How to estimate the revenue model of an eCommerce Business
In this video, we learn about financial modeling and how it can be used to estimate the business scale for an e-commerce platform. Financial modeling involves estimating ad, marketing, and sales spend to calculate revenue and associated costs. An effective model should give insights into whether a combination of variables will lead to company growth. The basic parts of a model include the COGS sheet, revenue sheet, SG&A sheet, and working capital and CapEx sheet. All of these sheets are consolidated into the monthly financial statement sheet, which summarizes the company's gross margin, net income per month, and cash in the bank. The team and salaries sheet allows automatic estimation of future hires, and the KPI sheet provides critical insights into the model's results. The projections sheet is where the magic happens, with estimations for website and mobile app sales, traffic sources, conversions, and active users. The revenue sheet calculates revenue from organic and paid traffic, and the active users sheet estimates the number of repeat orders.
$0 To $1000/DAY PROFIT In 13 Days Dropshipping - (FULL REVEAL) - Shopify
In this video, the creator shows how they took a product from zero to over $1k in profit in less than two weeks. They stress the importance of finding a good product with a decent margin and using product research tools like Dropship Spy to find winning products. Once a product is found, it is important to validate it using tools like Saturation Inspector to see how competitive it is.
The creator also recommends building a general store as it is the most time-efficient and does not make much of a difference in testing bad products. They share their experience of running Facebook ads and scaling them slowly while keeping an eye on metrics like CTR, CPC, and ROAS. They also mention the importance of analyzing the website and making improvements where necessary.
The creator shares their profit and loss sheet for each day and talks about their experience of making profits on the first day of testing. They also share their experience of having bad days and losing money, but stress the importance of not giving up and keeping at it. They mention the fluctuations of Facebook ads and how it is important to cut the bad assets and let the good ones run.
In the end, the creator shares their success of making over $1k in profit in less than two weeks and stresses the importance of finding a good product, validating it, and scaling slowly. They also recommend using accounting apps like Cinder to keep track of finances.
Taxes for Shopify Store Owners
Taxes are an important part of e-commerce, and it is crucial to collect sales tax for different orders and pay taxes to the government. This article aims to discuss the different types of taxes that small businesses have to pay and how to ensure that you stay within the law and pay them on time.
Types of Taxes:
1. Sales Tax:
- Physical location: If you have a physical location in a state, you need to collect sales tax in that state.
- Economic nexus: Depending on the state, you may need to collect sales tax based on the number of transactions or revenue generated in that state.
- Shopify: You can set up sales tax collection for physical locations in the Shopify backend.
- Tax Jar: A third-party app that helps keep track of economic nexus and automatically files taxes for you.
2. Income Tax:
- Depends on the business entity structure.
- Expenses such as cost of goods, shipping, marketing, and independent contractors can be deducted.
- Need to pay taxes on any income received from the business.
- Need to reach out to a tax professional to ensure paying the correct taxes.
Paying taxes is an essential part of running a small business, and it is crucial to stay within the law and pay them on time. By using tools like Shopify and Tax Jar, and consulting with a tax professional, you can ensure that you are collecting the correct sales tax and paying the correct income tax. Remember to set aside money for taxes to avoid being hit with a large tax bill later on.
How To Spy On Your Competitors Shopify Stores
- Welcome to the Bitbranding channel
- Today we will show you how to spy on Shopify stores using a Chrome extension
- We have been helping store owners since 2015 with tutorials, tactics, and strategies
How to Spy on Shopify Stores:
1. Use Google to search for stores with a specific keyword (e.g. dog)
- Type site:myshopify.com and the keyword to see relevant stores
- This tactic may not work for all keywords, but it can give you an idea of your competition
2. Sort stores by best sellers
- Use the URL to sort by best sellers and see what products are popular
- This can help you make decisions about what to sell
3. Use builtwith.com to see analytics, tracking, and payment profiles
- This website can show you what apps and tools your competition is using
4. Use the Chrome extension Koala Inspector
- This extension can show you the Shopify theme, apps, and product information of a store
- It can also show you the highest and lowest prices, average price, and number of products on a store
- By using these tactics and tools, you can gain valuable insights into your competition on Shopify
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