By Bobby Morrison, Chief Revenue Officer at Shopify.
Commerce moves fast, but Shopify moves faster.
We launched Commerce Components by Shopify earlier this year because we believe in building solutions that give enterprise businesses a competitive advantage for long-term growth. We have since exploded into the enterprise market with speed, strength, scale, and technical capability, with businesses like JB Hi-Fi choosing to build on Shopify.
Today, just eight months later, we have another huge announcement. Shopify has been recognized as a Leader in the 2023 Gartner® Magic Quadrant™ for Digital Commerce and placed highest in ability to execute. We believe this is a testament to our innovation and unique vision for commerce.
Delivering the best enterprise experience for customers is what gets me out of bed everyday.
And I believe our product leads the industry because we have thousands of R&D employees— focused only on commerce—shipping hundreds of product releases and major enhancements every year, including enterprise solutions across every aspect of commerce.
Leading the future of enterprise commerce
Shopify addresses the clear demand for modularity, flexibility and advanced development capabilities in the ever-evolving enterprise landscape. And we continue to innovate. We partnered with Google Cloud to address search abandonment, extended the availability of Shop Pay to enterprise retailers outside Shopify for the first time, and upgraded our integration with Adyen to offer even greater payment gateway choices. But we’re not stopping there.
Our commitment to innovation is crucial for the industry. From handling colossal product catalogs, limitless order volumes, multi-channel selling or complex inventory management, Shopify's infrastructure scales seamlessly to exceed the demands of enterprise-level operations.
Take Shop Pay as an example. By making it available to enterprise businesses off Shopify, they get the best converting accelerated checkout on the internet. In a recent study, one of the big three global management consulting firms found that Shopify's overall conversion rate outpaces the competition by up to 36%. And, the same study found that Shop Pay can boost conversion by as much as 50%, outperforming other accelerated checkout solutions by up to 10%.
Why does that matter? Enterprise retailers have distinct requirements that demand tailored solutions. Instead of imposing off-the-shelf or difficult-to-integrate options, we think outside the box and provide businesses with the optionality and flexibility they need. This means we’re a more valuable partner in their success.
Mattel, More Nutrition, Staples, and Suntory are just a few businesses already using Shopify. And, there’s more to come as enterprise solutions are built to be more interoperable, accessible and powerful.
The new possibilities for enterprise
Legacy enterprise SaaS was once the default choice for these businesses. Whether they opted for custom-built or off-the-shelf, they were often locked into one option — regardless of any issues that arose.
We believe recognition by Gartner reinforces Shopify's ability to deliver high-quality, on-time, and on-budget solutions for enterprise clients. But we also believe it underscores the market's strong demand for flexible and customizable solutions that are quick to implement. As builders of technology that contributes to growth, job creation and profitability, we have a responsibility to continuously innovate. We are driven to do more and achieve greater things, and our teams worldwide are committed to challenging the status quo and delivering transformative solutions that give businesses a competitive advantage.
Bobby is the Chief Revenue Officer at Shopify, joining the executive team in August 2022. He brings 25+ years of experience in transforming multi-billion dollar organizations.
Gartner, Magic Quadrant for Digital Commerce, 21 August 2022, Jason Daigler, et. Al.
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