Slowing Shopify Growth Spells Challenges for BNPL Partner Affirm

As Shopify’s growth slows down, its buy now, pay later (BNPL) partner, Affirm, is feeling the burn.Per its earnings report Wednesday (May 8), Shopify saw 23% year-over-year revenue growth in the first quarter of this year, comparable to its previous earnings report and down slightly from earlier in 2023, when it saw revenue growth exceeding 30%. Looking ahead, however, the company expects this progress to slow, predicting that revenue will “grow at a high-teens percentage rate” in Q2, with its gross margin ...