Highlights:
- Commerce Components by Shopify, a new software toolkit recently announced by Shopify Inc., claims to facilitate the creation of online storefronts by businesses.
- Shopify Checkout, one of the tools provided in Commerce Components, simplifies the process of creating a checkout page for an online business.
Commerce Components by Shopify, a new software toolkit recently announced by Shopify Inc., claims to facilitate the creation of online storefronts by businesses.
NYSE-listed Shopify offers cloud-based technologies for businesses to create and run e-commerce websites. According to the firm, its platform has handled over USD 475 billion in transactions for millions of online retailers. In its most recent fiscal quarter, revenues increased 22% year-over-year to USD 1.4 billion.
The majority of the company’s customers are small and medium-sized enterprises. With the introduction of the new Commerce Components toolbox, it expects to increase platform usage among major organizations.
The platform consists of a set of software applications designed to facilitate distinct e-commerce tasks. These utilities were previously offered as a single package. With the Commerce Components toolbox, businesses will be able to purchase only the features they desire rather than the complete package.
President Harley Finkelstein said, “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.”
Shopify Checkout, one of the tools provided in Commerce Components, simplifies the process of creating a checkout page for an online business. It is applicable to both e-commerce websites and mobile applications. According to Shopify, the mobile version of the service is 91% more effective than rival alternatives in converting app users into paying customers.
Shopify Checkout supports a variety of e-commerce transaction types. It allows customers to make one-time purchases, acquire memberships, and pre-order future products. Support for coupon codes enables businesses to provide optional discounts via the interface.
Retailers utilizing Commerce Components are able to handle consumer transactions using both third-party payment processing providers and the e-commerce giant’s own engine. The latter engine enables users to transact in over 130 different currencies. According to Shopify, businesses also have access to refund management and order tracking tools.
Shopify’s value proposition to businesses also includes a product called Shopify Checkout. This function can automatically insert a user’s payment information into the checkout page to expedite transactions. According to Shopify, the functionality cuts by 75% of the time required to conduct e-commerce transactions.
According to Shopify, Commerce Components also includes application programming interfaces for integrating with third-party apps. Using the APIs, a business may import information about user purchasing preferences from a Shopify-powered online store into its customer relationship management system. Commerce Components can also be linked to other external applications, such as enterprise resource management systems.
API access to Shopify’s platform is also currently available. However, it restricts the frequency with which some e-commerce operations may be performed by imposing rate constraints. Commerce Components lacks API rate limitations, allowing it to provide better support for organizations with expansive web storefronts.
Hydrogen is a so-called front-end framework offered by Shopify as part of its product lineup. It may be used to modify the user interface of online stores created using the company’s e-commerce platform. Enterprises utilizing Commerce Components will have the opportunity to create their e-commerce websites using third-party front-end frameworks.
According to the firm, several major merchants, including Mattel Inc., want to implement Commerce Components. Customers will also have access to support services and other forms of technical assistance in addition to the toolkit’s core set of features.