As a consistently evolving ecosystem, Shopify frequently announces product and company updates relevant to its merchants, partners, and App developers. It is important to stay up to date on the updates Shopify elects to release, as they are a leader in the independent entrepreneur e-commerce space and have the influence to set the course for where e-commerce platform giants will focus their efforts. From improved integration of POS systems with backoffice analytics, to releasing functionalities to different countries and in multiple languages, Shopify’s product features impact not only e-commerce sellers, but brick and mortar retailers, app developers and consultants.
FE works closely with hundreds of Shopify entrepreneurs to help them exit plan and successfully sell their businesses, so we wanted to keep a log of the most important releases from the e-commerce platform giant.
Check this post regularly for the biggest updates from Shopify.
SHOPIFY (RE)UNITE 2020 | Shopify Product Updates
Each year, Shopify hosts Shopify Unite, its annual conference for merchants, partners and developers, to announce significant product updates released by the e-commerce platform giant. Here, we report back on the major updates:
- Shopify balance account, card and rewards
- Shopify Capital update – UK and Canada now included.
- Launch of Shop Pay Installments – in the US later this year. Customers can pay in four installments.
- New Express theme – designed for a one-page shopping experience and optimized for mobile
- Gift cards made available to help support struggling businesses
- Tipping built into the online checkout
- Local domains and custom FX for international sellers
- New online store design experience
Omnichannel and Marketing
- All new Shopify POS – “a fully redesigned, rebuilt, and extensible point-of-sale system with omnichannel capabilities at the forefront”
- Contactless checkout
- See what’s in store
- Shopify Email, including new email templates
- Free listings on Google Shopping
- Facebook Shops – Syncs into Facebook or Instagram for a new shopping experience
- Shopify Ping messaging app
- “Shop” personal shopping assistant
- Product States – “create a product and save it as a draft, add more details later, hand it over to a team member, and publish it when they’re ready.”
- Faster product creation
- Purchase Orders – helping to order, track, and receive inventory from suppliers
- Orders list page redesigned
- New delivery and pickup methods including local and curbside pickup
- Shopify Fulfillment Network – extra $1B investment over the next four years
- Storefront renderer – improvements in load times in live stores
- Online store performance dashboard
Here is a full article on the announcement.
SHOPIFY Q1 Revenue Report – May 6th 2020
Shopify reported its first-quarter revenue and temporarily made it Canada’s largest public company. The e-commerce company’s shares initially surged 6.8% and pushed it above RBC in terms of market cap. As the Coronavirus pandemic has brought more businesses online, the company has reported a 47% increase in sales from the same quarter last year. During the pandemic, Shopify launched a redesigned point of sale service to offer more flexibility in moving inventory, including curbside pickup and local delivery options.
The e-commerce giant says it is closely monitoring the impact that rising unemployment has on new shop creation as well as consumer spending as habits continue to transition to online shopping. In the report, CEO Tobi Lutke said: “We are working as fast as we can to support our merchants by retooling our products to help them adapt to this new reality.”
SHOPIFY introduces “SHOP” – April 28th 2020
Shopify has introduced Shop, a first-of-its-kind shopping assistant app for customers and merchants alike. Designed to bridge the gaps in online shopping, Shop offers users the ability to easily discover local businesses, receive relevant product recommendations from their favorite brands, check out effortlessly, and track their online orders. The app is an update and rebrand of Arrive, an app for tracking packages from Shopify merchants and other retailers, which the company says has been used by 16 million consumers.
With Shop, customers will have a faster online checkout experience with Shop Pay to help lift conversion by up to 18% for returning customers, and by providing relevant recommendations, help merchant’s stores drive repeat business. “Shopify has focused the last decade on solving complex problems for entrepreneurs by making commerce seamless and accessible,” said Carl Rivera, general manager of Shop. He added, “Shop will not include any ads, and it will be available for free to both shoppers and brands.”
SHOPIFY UNITE 2019 | Shopify Product Updates
This year saw a strong focus on merchant usability, augmented reality, vertical integration across merchant and partner touchpoints, international expansion and developer accessibility. The focus on improved user experience is indicative of Shopify’s comprehensive understanding of what merchants and developers need from an e-commerce platform, a key component in its strong share of the vast (and continuously growing) e-commerce seller market. Following the announcements, Shopify’s stock [NYSE:SHOP] rose c.8%—even as the market dipped overall—to reach its highest PPS the yet this year (YTD +121%).
Here are the most signification updates announced at the conference:
- 10 popular open source libraries become compatible with GraphQL
- Shopify App Bridge adds Feature Detection
- Automated code generation via Shopify App CLI
- Developer previews of new APIs to support API versioning
- Shopify App store translated into 10 new languages
Shopify Fulfillment Network
- Shopify Fulfillment Network launches fulfillment centers with smart inventory-allocation technology using machine learning to optimize shipping, featuring:
- One back office
- Cycle counts to maintain inventory visibility
- 99.5% accuracy
- Dedicated account manager
- Loyalty and promotion details visible directly in cart
- Redesign of Shopify POS for faster checkout and with a unified backoffice
- Improved developer accessibility including compatibility with all current apps
International Expansion Updates
- Ability to sell in multiple languages via Translations API
- Manage publishing of alternate locales via Shop Locale API
- Ability to sell in multiple currencies rolls out to Shopify merchants worldwide
Core Store Updates
- Improved ease of storefront design (no code required) via:
- ‘Sections’ on every page
- master pages facilitating mass changes to particular page types
- preconfigured content sections within themes
- portable content vs stored in themes
- drafts capability
- new user interface
- Checkout app extension moves subscription app purchases to within Shopify checkout
- Native video and 3D model asset support for products
- Media APIs to associate products with videos and 3D model assets
- Fulfillment API improves tracking and visibility into order fulfillment
- Delivery Profiles API maps shipping rules by location
- Edit open orders via new Order Editing API
- 11 new languages for Shopify Admin
- 10 new languages for Partner Dashboard
- Completely new Shopify Plus to improve insights and management of multiple stores
- Shopify Flow moves to Shopify Plus
Here is a full article on the announcement.
Interested in learning more about what your Shopify store or App might be worth? Click here for a free, no obligation valuation or get in touch with us at firstname.lastname@example.org. We are available to answer any questions you may have about the selling process.