Shopify Unveils New Subscription Product to Attract Major Retail Clients, According to Reuters

Shopify Technologies Inc has introduced a new service designed for large retailers, enabling them to select and integrate various tools and services offered by the Canadian tech company with their existing online platforms.

The company has secured a partnership with toymaker Mattel Inc and is in discussions with other enterprise clients, including Glossier, Coty, Steve Madden, and Staples, to adopt this new product.

This service, referred to as Commerce Components, allows retailers to customize their online operations by choosing from different features, such as checkout systems and back-office services, tailored for their current businesses.

Pricing for Commerce Components will vary based on the level of customization and the components selected by the retailer. Currently, subscription fees for Shopify Plus start at $2,000 per month, while basic subscriptions begin at $29.

Shopify President Harley Finkelstein emphasized that Commerce Components targets a segment of the market that has been overlooked historically, suggesting that it presents a new growth opportunity for the company. He indicated that large retailers often find themselves building their own technology platforms when faced with inadequate support, detracting from their focus on product development. This shift has led to the rise of smaller brands, which have successfully sold directly to consumers through social media and their websites.