A leading digital commerce platform is introducing solutions for online shopping, fulfillment, delivery and payment, as well as financial tools.
Shopify says it is offering these new omnichannel solutions and capabilities to assist retailers in using its platform during the COVID-19 pandemic and adjusting to post-pandemic consumer expectations. Following is a summary of each new solution:
Improved online store
Retailers now have the option to collect tips at checkout. Shopify has also released a new one-page theme called Express that enables retailers to get online quickly. These features were built with local restaurants and coffee shops in mind, but can also be used by retailers in any vertical.
In addition, Shopify has enabled all retailers on its platform to sell gift card since March 20, with more utilizing this feature than ever before.
Buy now, pay later
Shop Pay Installments, Shopify’s new “buy now, pay later” option, will provide consumers the option to split purchases into four equal payments over time, interest-free and with no additional fees. Working with a partner, Shopify will launch Shop Pay Installments later in 2020. It will be available to U.S. merchants eligible for Shopify Payments.
Recently, Shopify announced Shop, a direct-to-consumer app and personal shopping assistant to make purchasing and order tracking frictionless. Coming soon, Shopify’s new Shop Channel will let retailers control how their brand appears on Shop.
This will include users customizing their profile, and how and where they appear on the app. Shop Channel will first be available to retailers in Canada and the U.S.
Shopify is also partnering with Facebook to help small-to-mid-sized retailers create branded storefronts and unique in-app shopping experiences on the new Facebook Shops and Instagram Shops social commerce solutions.
Shopify has begun rolling out a new product for retailers globally to offer an improved and simplified local delivery experience. Users can define a local delivery area using distance radius or ZIP/postal codes, set local delivery fees and minimum order price, fulfill local orders through Shopify, Shopify POS, and Shopify mobile, create optimized delivery routes, and send customer notifications when deliveries are on the way.
Shopify Fulfillment Network, which launched in 2019, has graduated from its early access stage, and is actively accepting retailer applications. The network invests in technology and a collaborative robotics workforce. Shopify opened its first research and development hub in Ottawa, Canada to trial new robotics and fulfillment technologies, iterate and improve on warehouse operations, and fulfill Canadian-based orders.
Shopify Balance will give retailers access to critical financial products to start, run, and grow their businesses. These will include a one-stop account within the Shopify admin; physical and virtual cards that retailers can use to access their money when spending in-store, with mobile or online, as well as withdrawing from ATMs; and cash back and discount rewards on everyday business spending like shipping and marketing. There will be no monthly fees or minimum balances. Shopify Balance will launch in early access later this year in the U.S.