Shopify sees growth opportunities in larger retailers
Shopify, the e-commerce platform that allowed millions of small businesses to sell on the web without so much as requiring basic coding or html skills, is channeling its next stage of growth by targeting a bigger fish.
On Tuesday Shopify launches its latest brand offering: Commerce Components by Shopify, a composable stack for enterprise retail. In laymen’s terms, the infrastructure and data that took Shopify from a small Canadian tech company to a platform giant earning over 5.2 billion dollars in revenue, is sharing its commerce solutions so that other big companies can move faster, sell more and remain innovative.
Behind the tech, Shopify has been processing billions of transactions and powering millions of store fronts, which has allowed it to rapidly respond to the evolution of online retail, customer needs and brand innovation.
Commerce Components by Shopify
Big brands can now tap into Shopify’s components by integrating their APIs for back office and storefronts, with developers free to work with the desired components from the vast e-commerce ecosystem and ignore others that are not required.
American toy manufacturer Mattel is one of the first retailers to sign up for the service, along with its portfolio of brands, which includes Barbie.
In a statement, Harley Finkelstein, President of Shopify said: “We’ve always approached innovation at Shopify by anticipating what retailers need, then providing those solutions. 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.”