Is Shopify Online Store 2.0 the future of eCommerce? The new, upgraded platform brings excellent benefits for merchants and Shopify developers, with customisation at the forefront.
(Source: Shopify Developers)
But is Shopify Online Store 2.0 the future of eCommerce?
In the last part of our four-part Shopify blog series, we discuss how eCommerce is moving forward and how businesses can stay on top.
In 2020, more than 450 million people checked out on Shopify, and the company processed nearly $120 billion (USD) in GMV (Gross Merchandise Volume).
“As the world's commerce platform, we keep innovating to give entrepreneurs endless possibilities to creatively present their brands and grow their businesses.”
"The internet is the world's largest city, and Shopify is building its commerce infrastructure," says Tobi Lutke, CEO of Shopify.
"Especially over the past year, we saw independent businesses succeed by showing up creatively and uniquely in this city. The future of commerce on the internet relies on creative expression at every touchpoint," he says.
The new technologies and infrastructure enable the future of eCommerce. Shopify Unite’s 2021 focus is on exactly that – looking to the future, which is where Online Store 2.0 comes in.
The Shopify Theme Store Reopens
Shopify Removes Revenue Share
Omnichannel Shopping Becomes Evident
eCommerce Personalisation Is a Standard
New Payment Options Are In Demand
(Source: Shopify Partners)
From the opportunity for new theme developments to the removal of revenue share fees, there's more to come with Shopify's Online Store 2.0
As of July 15, 2021, the Shopify Theme Store reopens to partners. Developers can submit new themes for Shopify to review while Shopify publishes existing theme requests.
In September 2021, Shopify is removing all revenue share on the first million dollars that developers make annually on the Shopify Theme Store.
If developers make less than $1 million (USD), they pay a 0% revenue share, and the numbers are reset every year. Anything developers make over $1 million (USD), they pay a 15% revenue on the incremental earnings.
There’s a one-time submission fee of $99 (USD) per account to submit to the Shopify Theme Store. There’s also a 2.9% processing fee on all transitions, but there’s more information on that to come.
(Source: Shopify Partners)
The up and coming eCommerce trends for 2021 are reflected in Shopify’s Online Store 2.0 update.
It’s already obvious that the line between the physical and digital environment is becoming more blurred. And Shopify Online Store 2.0 reflects that.
73% of customers use multiple channels in their shopping journey. The trend for eCommerce is to understand how their customers buy, which marketing channels to use to engage with them, and the motivations behind purchases.
Online Store 2.0 prioritises speed across all channels. The new default theme, Dawn, focuses on speed and flexibility. It is 35% faster than the old default theme, Debut. With speed as a priority, this improves the customer experience across all platforms.
eCommerce personalisation has become a massive trend among businesses over the past years, but it won’t be just a trend as of 2021 and the years following.
Personalisation has evolved into a sophisticated marketing strategy. But personalisation isn’t about just acknowledging customers by name. Instead, it’s about dynamically displaying a unique and individualised shopping experience to customers.
The Shopify Online Store 2.0's checkout extensions include extension points, extension APIs and UI (User Interface) components. Extension APIs can be used to build customisation into Shopify apps, while new APIs can give control over certain checkout elements. With more extension points, eCommerce stores can build more personalised experiences for different parts of customers’ checkout journey.
Payment options are an essential part of driving customers to push a transaction. Without the available payment channel of their choice, they won’t purchase from that eCommerce store.
Many digital payment options are widely implemented by eCommerce businesses, from Paypal to Google Play. As a result, new payment methods are appearing around the world faster than Shopify can keep up.
Online Store 2.0 includes a way to implement new payment methods, replacing Shopify’s legacy integration points. The ability to add new payment options is achieved through creating payment gateways as Shopify apps.
The future of eCommerce changed significantly after 2020, and Shopify has kept up with the demand. From omnichannel shopping to personalisation to new payment methods, Online Store 2.0 has implemented many valuable elements – keeping up with 2021 eCommerce trends.