Shopify identifies four key retail trends | WARC | The Feed
The Feed
Daily effectiveness insights, curated by WARC’s editors.
You didn’t return any results. Please clear your filters.

Shopify identifies four key retail trends
A desire for more flexible payment options and the insight that consumers are “voting with their wallets” are among a quartet of important retail trends recently outlined by Shopify, the online commerce platform.
Why it matters
The COVID-19 pandemic has accelerated a pre-existing shift in retail habits, particularly towards e-commerce and omnichannel solutions. With 1.7 million merchants worldwide using Shopify’s platform – and 10,000 larger, more complex enterprises utilising the “Shopify Plus” service – the company is well-placed to determine how digitally-led commerce is evolving.
The four trends
- Consumers are “voting with their wallets”, with purchases often reflecting their deeper values. In response, last year Shopify launched a mobile-shopping assistant, called “Shop”, that offers lists of curated merchants, including local stores and Black-owned businesses.
- Retailers are focusing on buyer retention. “We see large companies are pushing acquisition costs up in their bid to attract customers,” said Harvey Finkelstein, Shopify’s president, on a quarterly earnings call. Achieving a superior customer experience is part of this endeavour, for instance with: a seamless checkout process; buy now, pay later options; and real-time delivery tracking.
- Entrepreneurs and smaller merchants require “modern financial solutions” as they struggle to garner the support of traditional banks. That could involve providing access to capital, no-fee business accounts, and/or the ability for retailers to provide flexible payment options to customers.
- The “power of omnichannel” is growing, argued Finkelstein, whether that involves people discovering and buying goods on Instagram, the photo-sharing service, or purchasing items through e-commerce channels and picking them up curb-side or in a physical store.
Sourced from SeekingAlpha
Email this content