Shopify debuts new subscription service to attract major retailers

Shopify e-commerce company headquartered in Ottawa, Ontario, launched a new subscription service on its platform with the aim of luring in big retail brands. The company is hoping that this new product will result in more sign-ups for retailers to use its site for their businesses.

Shopify introduced a new service called “Commerce Components by Shopify” on Tuesday, Jan. 3. The firm said that this would allow companies to choose just the applicable tools and services for their businesses from the list of its offerings. The selected ones could be easily integrated into the retailer’s own online platform.

According to Reuters, the company has already secured sign-ups from some major brands, such as Mattel Inc. The American toymaker will now be able to use the new product for selling its items.

It is also looking to bring other clients that it is currently working with to the platform. Shopify is aiming to get Staples, Steve Madden, Glossier, and Coty onboard as well.

The new Commerce Components by Shopify will help companies in setting up their online store or website. They can choose which parts to add like the checkout functionality and other services. Since these are services being offered by Shopify, they can be availed by paying a subscription fee.

Prices will depend on the customization and the type of components that the retailers will use on their online store. For an idea, the basic subscription fee costs $29, while Shopify Plus starts at $2,000 per month.

“We have always approached innovation at Shopify by anticipating what retailers need, then providing those solutions,” Shopify’s president, Harley Finkelstein, said in a press release. “Commerce Components by Shopify opens our infrastructure so enterprise retailers do not 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.”

Photo by: Roberto Cortese/Unsplash