Shopify was busy building tools to help his merchants through pricing uncertainty.
The leaders discussed the prices directly when calling the results of the company’s first quarter on Thursday, saying that he had launched a series of new solutions to calculate and collect tasks.
“We have sent a lot, and we focused on areas that we can have a more immediate impact: cross -border trade, which facilitates the purchase of local calculations, tasks and shipping,” said President Harley Finkelstein during the call.
This includes a website he launched this week that provides AI advice on American prices according to the description of a product and its country of origin. The website warns users to consider it as a guide and to reveal the prices with customs officials.
An example of the guides that merchants could see on the Tariffguide.ai de Shopify website. Tariff.ai
In February, Shopify carried out its task collection tool, previously exclusive to the users of Advanced Shopify or Shopify Plus, available to all merchants.
Traders using the tool can display and perceive tasks at the time of payment. It has also reduced transaction costs for this 0.5% tool, compared to 0.85% for Shopify payments and 1.5% for merchants using other payment providers. Finkelstein said the number of merchants using the task collection tool had doubled between January and late March.
Shopify has also added a filter in the Shop application which allows buyers to see products made in a particular country and buy locally.
On the shipping plan, he launched the possibility for merchants to buy prepaid shipping labels and send products to customers using paid delivery delivery, which essentially means that traders assume the costs of prices and taxes for customers.
He also started working with more third-party logistics suppliers on the Shopify Fulfillment Network application and added features to its managed market product, which, thanks to a partnership, allows merchants to designate Global-E as a recording merchant rather than the seller himself.
“Our obsession with unlocking each opportunity and filling all the important gaps in the system, giving our traders the best chances of success, is one of our superpowers,” said Finkelstein.
“We have deployed the filter of the shop application in less than a week, and the calculation of tasks when updating during a weekend. Literally, the weekend after the announcement of pricing modifications, the team got to work, and Sunday evening, we tested it for production,” he added.
Shopify’s financial director Jeff Hoffmeister said that cross -border trade represented 15% of the company’s gross goods volume during the quarter, similar to the previous quarters. About half of this cross-border trade involved a trade or outside the United States.
He added that only about 1% of the overall GMV of Shopify concerned articles from China which would be eligible for the minimis exemption.
“The recent expiration of the minimis exemption for China goods should not have a significant impact on short-term Shopify,” he said. “That said, it expired less than a week ago, and we will continue to monitor its impact on our business.”
Shopify has declared income growth of 27% and 23% growth in GMVs for the quarter.
“As a platform that feeds global trade, we are of course monitoring potential slowdowns, but our data until April shows little evidence of this,” said Finkelstein.
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