Online e-commerce platform Shopify will be opening a brick-and-mortar store during 2018. While the location is still undisclosed, Shopify says they hope it will offer a hub of support for existing customers, as well as potential new ones.
According to Shopify COO Harley Finkelstein, “it is kind of weird that a company that was forged in the fires of the internet commerce is having a physical store, but it is a bit of a canvas for us to do some cool experiments.”
Finkelstein asserts this new venture is not driven by slowing growth or market fluctuations, despite rumours of merchants opening and then closing their Shopify stores. These rumours started circulating when a short seller targeted the company in 2017, saying they rely on small merchants with an uncertain future, and calling for the release of data on customer churn.
Finkelstein responds to these allegations further by saying “some businesses don’t succeed, but the ones that do, stay with us for a very, very long time”.
Finkelstein says, “we don’t actually have to sell anything at our bricks and mortar store, it’s just an extension of our brand, maybe it’s a way for us to communicate with our community”. This means the physical location will serve as space for developer and merchant inquiries, hosting events, and even selling merchant products.
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