Shopify prioritizes adding functionality to address the complexities of individual businesses. In addition to its robust store editor, the company offers a variety of integrations for everything from loyalty programs to social media management.
New features like product bundles enable businesses to increase average order value and curate a better buyer experience. Others, such as a more flexible discounting system, help retailers compete in today’s dynamic e-commerce landscape.
1. Shopify Collective
The Shopify Collective is a revolutionary platform that enables businesses to collaborate and share products with each other to streamline cross-selling and inventory expansion. It allows retailers to add new product offerings without the risk of purchasing and storing additional inventory, while suppliers can reach new audiences through retailer websites. Shopify Collective offers a win-win solution for both retailers and suppliers with its user-friendly interface, streamlined workflows, and innovative win-win business model. They also have Shopify 1 dollar 3-months offer.
Eligible suppliers on Shopify can connect to retail stores through the Collective sales channel by adding a listing for each of their products to the channel. The listings appear on a retail page in the corresponding retail store’s website and can include up to 10 images of each product. Retailers can then browse the listing and select the items they wish to purchase. Once a retail store places an order that contains your Collective products, you’ll receive an order in your Shopify admin that you can fulfill and ship directly to the customer.
As a supplier, you can create a Collective referral page for your brand to direct retailers to install the sales channel and request to connect with you. This feature is by default turned on, but if you’d like to manually adjust your visibility in this way, you can do so from your Shopify admin at Settings > Apps and sales channels. Within this page, select Collective (Retailer).
Once you’ve added your listing for a particular product to the Collective sales channel, you can share price lists with retailers who have requested to connect with you. The retail product price that retailers will display to their customers is based on the minimum and maximum margins you’ve set for each of your active price lists.
Once a retailer has connected with you, you’ll then be able to view the orders they have placed and manage their payments through the Shopify sales channel. Payments are made automatically when the sale is completed, and you can track the status of each transaction in your Shopify admin. This ensures your payments are processed quickly and correctly.
2. Local Inventory on Google
A growing number of brick-and-mortar retailers are taking advantage of Google Local Inventory Ads (LIAs) to drive in-store sales. These ads allow businesses to display their physical store inventory in search results for relevant searches on desktops, mobile devices and tablets.
By ensuring that product information is accurate, these ads can help to improve customer experience and avoid frustration from out-of-stock items. It can also improve conversion rates as customers are more likely to click on and convert on ads that have the right availability and price.
To implement LIAs, merchants must first upload a feed that contains their local stock availability and prices. This can be done manually or through a third-party feed management tool. For the best results, this should be updated frequently — especially when there are changes to inventory conditions or pricing. Otherwise, inaccurate data can lead to a negative customer experience and even policy violations with Google.
Once a feed is set up, merchants can then choose to have LIAs appear alongside existing online Shopping campaigns or create a new one to target local searches using their Google Product Search campaign settings. The goal is to reach shoppers with the right message at the right time to make a sale.
One effective strategy is to use a location extension bid modifier to increase bids for shoppers who are close to stores during business hours. This ensures that ads are displayed to shoppers with high purchase intent. Another way to boost in-store sales is to display ‘In-Store Pickup’ and ‘Pickup Today’ labels with LIAs, which clearly signal to consumers that they can get the item they want without having to wait for shipping.
Shopify offers a wide variety of marketing and sales tools that can be used to grow and manage an online store, from SEO to affiliate marketing. Its extensive app marketplace is home to solutions that range from streamlining customer service to automating redirects to creating loyalty programs. For marketers, this is a valuable source of new ideas and strategies to try. By tapping into the power of these apps, marketers can take their e-commerce strategies to the next level and increase their sales and conversions.
3. Bundling
A key element of any ecommerce strategy, bundling is the process of grouping complementary products to offer a discount. This is a proven way to increase average order value, improve customer experience, and boost sales.
To enable merchants to leverage bundling for their business, Shopify has introduced new features that will make it easier to manage complex product catalogs and boost sales. For example, the platform now offers a more streamlined and simplified workflow for creating product variants and setting up multi-variant promotions. Additionally, the platform has improved its taxonomy by mapping standard product categories to a unified set of attributes. This will simplify product catalog management for both merchants and customers, resulting in a faster, more intuitive shopping experience.
Another significant feature is the ability to monetize product bundles with volume discounts. This will allow merchants to amplify sales, drive up conversion rates, and promote their best-selling products in their storefront. Additionally, the platform has introduced a more clear and visually appealing product display of bundles, elevating their overall appeal and reducing cart abandonment. Lastly, the platform now supports subscriptions and add-ons and allows for easy tracking of active, paused, and canceled orders.
As the leading ecommerce platform for millions of independent businesses, it’s no surprise that Shopify is constantly evolving. In fact, one of the platform’s guiding principles is that it prioritizes making the software flexible so that businesses can add the functionality they need to meet their specific needs.
For those looking to take their business to the next level, there are several powerful apps available in the Shopify app store that can help. Some of these include PickyStory, which provides a diverse set of bundling options that range from classic combinations to intricate mix-and-match bundles and even volume discounts. Its seamless ERP integration also removes any operational challenges and enables automated inventory syncing, saving time and maximizing productivity.
Whether you’re an established enterprise or just starting out, Shopify’s platform has everything you need to grow your business and succeed in the global marketplace. To learn more about how this platform can transform your business, contact us today.
4. More Complex Discounting
Shopify is committed to giving its merchants the best possible platform to thrive in the ever-changing e-commerce landscape. In 2023, they have made numerous improvements to their platform including advanced functionality and scalability to help businesses of all sizes grow and succeed.
The platform has a unique set of features that allow businesses to create and manage their online stores with ease. The site also allows owners to easily sell their products on social media channels like Instagram and TikTok, helping them reach a wider audience and drive more sales.
Another great feature is Shopify’s “Magic,” which uses AI to generate compelling content such as product descriptions, collection titles, and email subject lines. This is a huge time saver for merchants who struggle to create content for their stores.
Shopify also has a powerful tool called Launchpad that can be used to automate the launch of new products or collections. For example, it can create custom landing pages, set a timer for when a sale should start, and automatically update prices as they go live. This saves time and resources for merchants who would otherwise have to manually update their websites with these changes.
Additionally, a new feature called Markets provides a central command center for expanding business to different markets. It can handle cross-border, B2B, and point-of-sale (in-person) sales through a single admin screen. This is a game-changer for businesses that are looking to expand their brand internationally and stay competitive with local competitors.
Lastly, an improved dashboard makes it easy for business owners to view their sales, inventory, and pending payments at one glance. It also offers valuable suggestions in terms of marketing and customer retention tactics.
These updates solidify the fact that Shopify is one of the leading e-commerce platforms in the industry and is committed to providing its merchants with the tools they need to succeed. With a focus on flexibility and customization, it allows enterprise-level brands to build their own tech stack and provide their customers with an immersive e-commerce experience.
If you are interested in learning more about Shopify’s e-commerce solutions or want to discuss the possibilities for your own brand, please don’t hesitate to contact us today!
