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Shopify launches Commerce Components by Shopify for big retailers
Shopify has introduced its new enterprise retail software, Commerce Components by Shopify. The software lets retailers select which tools within Shopify’s software to use and connect to their desired backend functions, according to the announcement.
 
According to Shopify, Commerce Components is for big retailers with an annual GMV of $500 million or more. The new service includes a range of component tools that streamline different operational matters and also allows enterprise customers to access some of Shopify's core features, such as checkout, while also supporting free choice of various back-end services, such as CRM or inventory management systems.
 
The new offering gives large retailers and brands an option other than Shopify Plus, which is an entire package of components offering end-to-end commerce solutions.
 
"We’ve always approached innovation at Shopify by anticipating what retailers need, then providing those solutions,” Harley Finkelstein, president of Shopify, said in a statement. “Commerce Components by Shopify opens our infrastructure, so enterprise retailers don’t have to waste time, engineering power, and money building critical foundations Shopify has already perfected, and instead frees them up to customize, differentiate, and scale.”
 
Some industry insiders point out that this is Shopify's effort to attract more big brands and big enterprises. On the one hand, it shifts the target of customer expansion from small and medium-sized sellers and startups to large corporate customers, an important move to cope with the decline in growth; on the other hand, the small and medium-sized sellers served by Shopify will also grow into large enterprises, and if Shopify's product solutions do not meet their growth needs, it will face the problem of losing old customers.
 
American brand Mattel will be one of the first enterprise retailers to use Commerce Components. The company is bringing its entire portfolio of brands to Shopify.
 
As Shopify offers merchants an inclusive selling platform, iPeakoin, a global institution-grade cash management platform, can provide cross-border merchants an integrated financial solution for payments settlement. With iPeakoin Global Account, businesses of all sizes can open multi-currency accounts in the name of company, able to collect payments from Shopify or paying suppliers.
 
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For more details, or just want to say hi, feel free to send us a note at marketing@ipeakoin.com or https://t.me/ipeakoin (Telegram).
iPeakoin, a fintech company that builds an institution-grade global cash management platform, is committed to bridging the gap between traditional finance and crypto, and to providing a one-stop shop for diversified and globalized cash management with technology.