MGR eCommerce Edge Weekly | May 19, 2020
Top News This Week
Shopify (Re)Unite Conference Recap & Thoughts
The biggest announcements:
- Shopify Fulfillment Network (SFN) is now open to all merchants. Launched last year, Shopify’s effort to duplicate Amazon’s FBA has come a long way. They continue to open new warehouses and partner with more 3PLs across the US. It may be an excellent option for those who aren’t ready/able to bring all fulfillment in house.
- Shopify launches ‘Balance’ a new business banking product. It seems like every company is launching its own banking products these days, and Shopify is hopping on the trend. The biggest perk of using it is that Shopify says it will help merchants get paid faster, if that’s the case then it’s worth getting. It also has expected perks like cashback on business purchases, etc. Get it here >
- Shop Pay now has payment installments built in, no need for 3rd party apps. My condolences go out to Affirm, Klarna, & AfterPay as their largest customer base just got wiped out in an instant.
Those were the biggest and most impactful announcements Shopify made, but there were many others. Here are some other relevant announcements:
- Shopify Plus admin got an upgrade: The new admin positions you to adapt quickly and expand into new geographies, products, or brands by launching new stores and copying existing data like themes, users, and preinstalled apps from your current stores.
- Shopify Capital is accepting even more merchants in effort to help with COVID-19 related cash flow issues. Apply here >
- Global Commerce: Scale your global eCommerce strategy with a localized buying experience for international customers. Whether you manage your business from one store or multiple stores, local domains are a simple way to tailor the currency and language based on your customer’s location to give them a local buying experience.
- Sell globally using different pricing strategies for different currencies with Custom FX. Lock in a set price for each currency you sell in, giving you more control over your price lists, so you no longer have to worry about constantly fluctuating exchange rates.
- Local Pick Up & Delivery: In shipping settings, merchants can now set certain geographic areas where if a customer orders they can have an option to pick up or get items delivered.
Other Notable Links:
1. Welcome to the Metaverse, fashion is going digital – TECH CRUNCH
2. Disney’s head of streaming leaves to become the CEO of TikTok – NYT
3. Discretionary consumer spending hasn’t gone anywhere, in fact it may go up as people save more working from home – INTELLIGENCER
4. How Brex found great success with billboard advertising in the digital age – TRENDS