Shopify has launched over 100 new features to help small business owners be more productive and innovative as part of their Summer ’23 Edition product updates. The updates leverage the power of artificial intelligence (AI), a fee-free business credit card, an AI-powered commerce assistant, and a new platform to streamline business-to-business (B2B) sales.
In the wake of an increasingly digitized world, AI continues transforming business operations. Understanding the potential of AI for small businesses, Shopify has launched a suite of AI-enabled features under the banner of “Shopify Magic.” The centerpiece of this suite is Sidekick, an AI commerce assistant designed to help business owners make smarter decisions and increase productivity.
Sidekick can answer business-related queries, help with creative processes, improve the quality of online stores, and streamline workflows. “I can’t actually think of any corner of the internet that will benefit more from AI than the pursuit of people building and growing their own businesses,” said Tobi Lütke, Founder & Chief Executive Officer of Shopify.
A few additional highlights of the Shopify Magic features include FAQ and response recommendations personalized for a merchant’s store, instantly generated blog posts and emails with engaging content, and an optimal send-time recommendation.
For small business owners concerned about credit card fees and credit checks, Shopify has partnered with Stripe to launch Shopify Credit, a business credit card with no hidden fees and a hassle-free application process. This new card rewards users up to 3% cashback on eligible purchases, with credit limits based on the merchant’s sales rather than their credit history. Shopify Credit is currently available to eligible U.S.-based merchants.
Further to these innovations, Shopify has introduced a new platform called Shopify Collective, designed to increase B2B sales with minimal risk. This platform allows merchants to source new products from other brands on Shopify without buying inventory or finding new suppliers. They can add these products to their own store and earn a margin on each sale.
Additionally, Shopify continues to develop its existing B2B tools, which have seen more than 45 customizable wholesale features since its launch in June 2022. The platform has onboarded well-known brands, including Kraft Heinz Company and Supergoop!, indicating a promising growth trajectory in the global wholesale market, estimated to be worth $7.9 trillion.
Small Business Deals
By integrating AI into their platform and offering financial solutions like the Shopify Credit card, Shopify aims to keep businesses at the cutting edge of the market. For small business owners looking to grow, these updates could be an exciting opportunity to increase productivity, streamline operations, and access advanced financial tools.