More specifically, Commercekit will support the creation of apps that provide merchants with new ways to interact with their shoppers. Some of these methods involve deploying NFTs to create customer segments for future campaigns, reward loyal customers, or sell non-fungible tokens as a new distinct product category.
According to cryptonomist.ch, currently available tools to create Web3 ecommerce experiences are limited, and in this context, thirdweb’s simplified smart contract implementation and Shopify’s ecommerce tools could potentially transform the workflow of developers. In essence, Commercekit will be able to speed up the integration of Web3 products into Shopify storefronts.
Officials from thirdweb talked about the partnership with Shopify and revealed that they have worked with Web3 developers and brands interested in building blockchain apps for the past 18 months and realised that there’s a real demand for integrating Web3 with commerce. Shopify officials expressed their excitement to work with thirdweb in order to make sure that smart contracts and Web3 wallet addresses become an essential part of the commerce and loyalty toolkit.
According to cryptonomist.ch citing data from the US Census Bureau, 13% of total retail sales are acquired through ecommerce sales. In this context, Web3 is positioned to support ecommerce growth by providing merchants with new ways to engage their audiences, execute marketing campaigns, and create loyalty rewards programmes for customers. The Commercekit will allow merchants to blend the off-chain physical purchase history of customers with their on-chain digital wallet activity. This will help create a unified profile across digital and physical environments.
As for rewarding new and existing customers, developers can leverage the tools in the Commercekit to introduce apps and facilities such as discounts, exclusive products with tokens, in real-life shopping experiences, and time-based sales for audience segments.
In February 2023, Shopify has introduced a new product-description tool in a bid to capitalise on the growing trend surrounding artificial intelligence. The new tool is named ‘Shopify Magic’ and was designed to integrate with the company’s ecommerce platform. It uses underlying technology similar to what powers ChatGPT, a generative AI application that has become popular since its launch in late 2022.
Shopify wants Magic to provide a way for businesses to quickly write descriptions for their products. According to the company, more features are expected to be enhanced with the AI tool later in 2023. Shopify provides stores in more than 170 countries with services to set up online.
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