Shopify recently took their Unite event, now Reunite, virtual. We wouldn’t be wrong if we said doing so helped reach more of their partners, sellers, and merchants. But that’s not even the highlight.
In Reunite 2020, we saw Shopify drop some major changes and announcements that concerned the businesses within their entrepreneurial community. If you missed the gist, don’t bother. Here’s a quick overview of the biggest announcements of Reunite 2020.
1. Shopify Balance
This is part of the initiatives launched by Shopify to help merchants manage their cash flow. It serves as a quick and easy way for them to access funds when they are needed–something that most banks fail at. They can access this offer based on the sales performance of their store.
The Shopify Balance will cover:
- Rewards: sellers will access cashback and discounts based on their spending and purchase.
- Shopify card: this falls into both the virtual and physical card category. Much like an ordinary ATM card, it will enable money withdrawals when needed.
- Shopify balance account: track expenses easily, monitor cash flow, pay bills, and make informed financial decisions without having to pay a fee.
2. Shopify Capital
The Shopify Capital feature provides an easy way for merchants to access the funding they require to run their businesses. They’ll be required to apply for such, and when it becomes approved, the requested amount will be deposited into their Shopify account. This feature is only available in the U.S, U.K, and Canada.
3. Shop App
With the Shop app, customer experience can be strongly improved. It acts as a personal shopping assistant that can help buyers track their orders. Additionally, with the Shop local feature, buyers can locate nearby merchants.
The app will also provide pop-up product recommendations from the customers previously patronized. If customers decide to buy again, they get to enjoy a quick checkout experience using Shop pay. Current innovations are directed at discovering ways to leverage the app to tell a brand’s story.
4. Performance Tools
Using the newly included storefront renderer, and the online performance dashboard tools, everyone will be able to enjoy the privilege of speed. Performance issues can now be easily troubleshot to improve service offerings.
5. Delivery & Pickup Methods
The new improvements on Shopify’s Shipping and Fulfillment features allow customers to go for local and curbside pick up from any location of their choice. The local delivery feature will also enable sellers to provide a local delivery experience for buyers in other locations asides theirs.
6. Fulfillment Updates
The upgrade in Shopify’s Fulfillment Network is aimed at increasing effectiveness. Some major improvements include:
- Inventory intelligence: this gives recommendations on inventory storage and how to best deliver it to customers.
- Easy Integration: this helps install and set up the Shopify Fulfillment app.
- Same-Day fulfillment: any orders received by 4 pm EST or before enjoy same-day shipping.
- Brand Control: customers’ experience is improved by using strategies like packaging inserts and custom packaging.
7. Back-Office Improvements
Shopify’s new back-office features allow orders to be easily organized, managed and fulfilled. The newly included product state feature allows products to be created and saved as drafts for whenever later edits or use.
The faster product creation feature will provide offline merchants who are transitioning to the online space the speed they need. Features like the orders list page will help fulfill requests more effectively.
8. New Resources For Making Better Sales Online
(a) Custom Foreign Exchange
The custom foreign exchange pricing with rules-based padding will enable purchases in local currencies. As a result, merchants will be able to receive payment in their currency while still showing a stable price to shoppers. This support is available for 133 local currencies.
(b) Multiple Store Domains
This improvement takes some work off the shoulder of stores with an international presence. It helps improve customers’ experience by personalizing multiple domain stores using the preferred language or currencies of local buyers.
9. Improved Features & Tools For The Online Store
Shopify is also introducing several new tools to help improve online sales.
(a) Express Theme
The Shopify Express Theme is a perfect fit for small scale online traders. With it, they can easily set up a one-page mobile-optimized website for their business. This feature enables brands and products to be easily visible online.
(b) Gift Cards & Gift Tippings
The new gift card idea helps sellers make some cash through free Shopify gift cards. Tipping is also another new feature by Shopify. It can be used to generate some extra revenue, but also for charity donation, tipping off the carrier and many other things during the checkout.
10. Better Marketing & Sales Channels
This is intended to help drive sales and improve revenue.
(a) Shopify POS
The new Shopify POS feature is an excellent idea for those who also own an offline store. The fully rebuilt and redesigned point-of-sales system comes with amazing omnichannel capabilities at the forefront.
Included in its new features one can find an option for contactless checkouts, seeing what’s in the store feature, the opportunity to highlight the most used discounts, apps and workflows, adjustable tile grids, and several other updates that will be included along the way.
(b) Shopify Ping
The Shopify Ping feature is a special messaging app that integrates with other regular messaging platforms. It will enable merchants to reach out, answer, and communicate with their buyers easily.
(c) Shopify Email
The newly launched email feature is another tool to communicate with customers. It comes with numerous email templates to choose from and will serve as a marketing tool.
(d) Facebook & Google Shops
This allows increased visibility and reach on both platforms. Products can easily be listed on Google’s shopping tap or the Facebook shop feature. For the moment, it is only available in the U.S.
Shopify is committed to providing better services. In this post we’ve listed 10 of their most important announcements so far. It is expected that with these improvements, everyone will enjoy a better experience.
Guest Author bio
Phillip Akhzar is the Founder and CEO of Arka with over a decade’s experience in packaging. Phil is a San Francisco native and attended Cal Poly SLO as an Industrial Engineer before graduating from both Y Combinator W15 and 500 Startups Batch 16.