New product from Shopify to attract large customers
2023.01.03 09:38
New product from Shopify to attract large customers
Budrigannews.com – (NYSE:) Shopify On Tuesday, Technologies Inc. unveiled a brand-new service aimed at large retailers that will enable them to integrate the tools and services that the Canadian tech giant provides with their own online platform.
The company claimed to have partnered with Mattel Inc., a toy manufacturer for the product and to acquire additional enterprise clients, such as Glossier and Coty (NYSE:), Staples and Steve Madden are aboard.
Shopify, which charges a subscription fee to help businesses set up their online stores and websites, will let retailers choose which back-office services, like checkout, they want for their existing online businesses.
The retailer’s level of customization and the components they select will determine the cost of the service, which is called Commerce Components. At the moment, the basic Shopify Plus subscription costs $29 and costs $2,000 per month.
“Trade Parts is on a very basic level for another fragment of the market that has generally been underserved… we figure this give us another market to go into,” Shopify President Harley Finkelstein said in a meeting.
Finkelstein emphasized the rise of small brands that choose to sell directly to customers through social media or their own website, pointing out that “if you have to build it yourself, which a lot of big retailers had to do,” you end up running your own tech company instead of making the product.
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