As technology becomes more and more prominent with each passing day, the way we shop is completely changing. Retail is actually steadily growing and thriving – both online and in brick-and-mortar stores.
One company in particular is doing amazing things in this industry – Shopify is introducing great new features as well as an actual store that customers can visit in person. We are going to be taking a look at their upcoming plans for this new store as well as other new features that were announced at the 3rd annual Unite conference this past year.
Shopify’s Brick-and-Mortar Store
This company’s numbers have been growing extremely quickly, especially over the past few years. Due to the growth in business (last year, they earned 8 billion in gross merchandise volume – a 64% increase), they are building a physical store.
This will be used to sell their POS (point of sale) products, as well as host workshops and provide the local community with events. As of right now, the location has not been announced yet, and the store will be called Shopify Space.
The new brick-and-mortar location serves a few different purposes. It allows a more personal connection between Shopify and the merchants they sell to by allowing them to speak to representatives for the company face to face. This new feature will also be used to jumpstart additional growth in the industry by becoming more appealing to both the users they have and new, potential ones.
Introducing the Tap & Chip Card Reader
In addition to these new features, the company also has some new ideas for point of sale products.
Shopify’s new credit card reader, called the Tap & Chip, is one we are especially excited for. This reader will allow contactless ‘tap’ payments – allowing a secure, quick way for retailers to accept payments from customers. Because of the simplicity of the product, it is being advertised as a great tool to use in order for the retailer to spend more time with their customers. It also has added convenience for the customer – this credit card reader will allow them to pay with mobile payments as well.
This product is incredibly lightweight but also very durable, and it comes in a small, round shape that you can hold in one hand. It is also completely wireless, so it can be placed anywhere in the merchant’s shop for convenience. Their battery lasts a week, so it will not need to be charged every single day. The tap interface and the slot for any chip cards is laid out in a simple way as to not be confusing for any users. A dock for the Tap & Chip can also be purchased to give the customer more control as they complete their purchase.
The Future of Retail
As the internet and online shopping became more prominent parts of everyday life, there was some worry about the “retail apocalypse.” However, this is an industry that will not be dying off any time soon. For every single store that closes, the National Retail Federation says that 2.7 more are opened.
It will be very exciting to see what the future holds for this industry, as well as for one if its key players – Shopify. From what we can see, it looks to be very bright indeed.