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Shopify offers 100 new features, including NFTs, for merchants to grow online

Technology for MSMEs: E-commerce platform Shopify on Wednesday announced the launch of more than 100 new features to give merchants around the world control over the tools and technology needed to attract and connect deeper with consumers. The launch was part of Shopify’s new semi-annual product showcase called Editions. “At Shopify, we believe in infinite play. That means we’re constantly pushing the boundaries of what’s possible for entrepreneurs,” said Tobi Lütke, Founder and CEO of Shopify.

In India, Shopify announced its expansion into the B2B segment as a new offering for merchants, NFTs by merchants for loyal customers, and a partnership with Google to help consumers shop locally. “While a post-pandemic future compounded by inflation may seem unpredictable for Indian merchants, we are stepping up our investments in innovation and product development to launch solutions that meet the needs of our merchants long before this future happens,” said Bharati Balakrishnan, Shopify’s Country Director and Head of India.

The move signals Shopify’s focus to expand into the post-Covid world as e-commerce adoption accelerates globally. The company appears to be partnering with merchants on their digital growth journey by offering a slew of solutions needed at all levels to grow an online business. The cluster of solutions launched by Shopify is likely to have something for everyone so that merchants find more value on the platform.

By delivering new features, Shopify seeks to provide this added value as it anticipates commerce will be in a “critical transition phase from D2C (Direct to Consumer) to C2C (Connect to Consumer)”. The brand-customer relationship is more than just a transaction, as customers want to feel connected, valued, and valued by the brands they support. C2C is a whole new phase of commerce where opportunities to connect exist everywhere, he said.

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Updates shared for India, Shopify announced an NFT-powered opportunity for brands to reward loyalty with tokenized commerce that “allows Indian merchants to offer a fundamentally new way for loyal customers to expand the usefulness of their NFTs and accessing personalized experiences from their favorite brands,” Balakrishnan said. It’s also because according to Shopify research, 45% of Indian consumers are likely to buy an NFT in 2022.

Expanding to B2B, Shopify said it would be easier for Shopify merchants to sell to other businesses using the same platform they use for their D2C storefront, but with custom tools that make it easier to wholesale or bulk directly to large companies.

With B2B on Shopify, merchants can set customer-specific prices at fixed rates or discounted retail prices, easily change currencies and exchange rates for international shoppers, and add automated payment terms while integrating with ERP solutions like Acumatica and Netsuite, the company added.

Shopify has also announced that it is partnering with Google. With Google’s local inventory sync available to retail merchants around the world, Shopify merchants will now be able to notify nearby customers when a product is available in-store. Launched in India in 2013, Shopify India had over 2,500 partners, who support online merchants, and over 8,000 apps on the platform through 2021.