July 26 (Reuters) – Canada’s Shopify Inc (SHOP.TO) is laying off 10% of its workforce as the ecommerce company struggles with slowing growth due to a pullback in online shopping after benefiting from a pandemic-fueled surge in demand.

Its shares tumbled 14.7% on the US bourses and on the Toronto Exchange, they shed 14% on Tuesday, pulling Canada’s wider main stock index lower. The shares have lost 75% of their value so far in the year.

Shopify’s turn of fortunes from the most valuable company in Canada last year to its present-day struggle to increase sales come as easing lockdowns have led consumers to return to brick-and-mortar stores.

Its sales growth during the pandemic led the Ottawa-based company to ramp up hiring and invest in technology, betting that the shift to online from physical retail shops

OMAHA, Neb. (WOWT) – The Better Business Bureau is warning of scams when buying online, especially when it comes to back-to-school shopping.

Technology like laptops and tablets has become a staple in education. But buying new technology in stores and online has become more of a challenge.

According to the BBB, shortages of some technology like computer chips could limit options available to consumers. When consumers can’t find these products from trustworthy retailers, they become more likely to encounter a scam.

Market research firm Deloitte says some of the driving factors in purchase decisions are price and quality. The BBB says scammers could target a desperate shopper with fake deals or exciting advertisements.

It’s recommended to follow a few tips from the BBB to avoid becoming a victim:

• Shop with familiar retailers. Laptops, tablets or other tech accessories can be a major investment. Shop with businesses you know and trust,

Rawpixel.com // Shutterstock

How online shopping has changed during COVID-19

Woman holding credit card online shopping

afotostock // Shutterstock

E-commerce sales grew by 43% during 2020

Woman holding phone online shopping

Ivan Kruk // Shutterstock

Globally, people started shopping online more, but spending less

Hands holding credit card and using laptop

McLittle Stock // Shutterstock

Online grocery shopping took off

Girl using a phone with online supermarket on the screen

kitzcorner // Shutterstock

More consumers are switching brands

Woman with shipping box with shoes, phone, and credit card

RossHelen // Shutterstock

Shoppers are testing accessories, furniture, and more with augmented reality

Woman holding iPad with augmented furniture in display

Yuganov Konstantin // Shutterstock

Out-of-stock messages are more common

Woman is holding credit card and using laptop

Ground Picture // Shutterstock

An estimated half of all US adults made a purchase on social media in 2022

Smiling young woman using mobile