Ecommerce giant Shopify’s decision last month to axe 10% of its workforce  turned received retail wisdom firmly on its head.

The convulsions of the pandemic, including the lockdown closures of ‘non-essential’ stores, had sparked a decisive and irreversible shift towards ecommerce. The growth of online was accelerated by 10 years as growth ballooned. That was the belief held by many.  

Not so, at least according to the North American platform, which in the main serves entrepreneurial small businesses. Shopify chief executive Tobi Lütke set out the reality in stark terms in an email to staff as he revealed the jobs cull.