The year 2024 begins with exciting innovations and improvements for e-commerce enthusiasts at Shopify. The industry leader is once again setting the bar to provide merchants worldwide with the best possible tools to further optimize their online businesses. From financial revelations and forward-thinking CO2 reduction to improvements in enterprise software, we give you a comprehensive overview of the developments Shopify presented at the beginning of this year.
Table of contents
- Announcement: Shopify reveals financial results for Q4 2023
- Shopify announces Winter '24 Edition
- Review and outlook for Shopify's CO2 reduction initiative
- New offerings in the enterprise software sector
- Innovation for commerce: Shopify unveils engineering highlights
- Improved shopping experience: automatic language redirection for storefronts
- Changes in product data analysis: farewell to product insights
- Automatic order cancellation for suppliers after 14 days
- New: Price selection for draft orders
- Shipping service suggestions when purchasing Shopify shipping labels
- Latori: your partner for Shopify Plus
Do you need support with your Shopify store? As Shopify Plus experts, we'll be happy to assist you and help you customize your store to meet your needs. Contact us.
Announcement: Shopify reveals financial results for Q4 2023
Excitement is building in e-commerce as Shopify announces its financial results for the fourth quarter and full fiscal year 2023 on February 13, 2024.
Shopify's management team will present the highlights of the last quarter in a conference call at 8:30 a.m. ET. You can be there too: The conference call will be streamed as a webcast on Shopify's dedicated investor relations page.
And for those who miss the livestream, an archived recording of the webcast will be available after the call.
Reading tip: We have also shared our review of the year with you. Find out what moved and drove Latori forward in 2023 in the article.
Shopify announces Winter '24 Edition
On January 23, 2024, Shopify announced the upcoming release of the Winter '24 Edition. This edition will present more than 100 platform updates aimed at making your business successful.
On January 31, the Winter Editions will be available to everyone. You can read about the exciting updates Shopify has in store here in our Shopify Editions blog.
Review and outlook for Shopify's CO2 reduction initiative
In December 2023, Shopify unveiled its progress towards carbon neutrality. As a major challenge, climate change is taken seriously by Shopify and the company is committed to actively contributing to it.
With a focus on CO2 reduction technologies, Shopify has gained important insights in 2023 and set clear targets for 2024.
Shopify committed to financing several CO2 reduction projects, including offshore projects.
The Shopify Sustainability Fund has achieved great success: Significant milestones were reached with the permanent reduction of 84.4 thousand tons of CO2 and a financial commitment of 54.8 million US dollars.
Looking ahead to 2024:
Shopify emphasizes that there is still a long way to go to truly achieve a sustainable CO2 reduction. Above all, emissions in general commerce must be reduced.
Shopify's initiatives to reduce CO2 emissions have not only shown progress in the fight against climate change, but have also outlined a clear vision for the future.
New offerings in the enterprise software sector
The world of commerce is changing rapidly and companies are facing the challenge of keeping up with this pace. The central problem: the often cumbersome enterprise software. In collaboration with the International Data Corporation (IDC), Shopify surveyed 1,000 companies. The result: 67% are considering changing their retail platform, with a view to costs and implementation time.
For Shopify, one thing is clear: speed and simplicity are crucial. In recent years, fully composable solutions were considered ideal. But the complexity they entail can become a burden. Shopify offers companies a wide range of options, whether as a complete platform, "headless" or modular.
In the rapidly changing retail environment, Shopify is focusing on innovation to help shape the future of enterprise software. In 2024, the company plans to expand its offering for enterprise companies and drive developments forward.
Reading tip: Find out how enterprise companies can overcome a wide range of e-commerce challenges with Shopify Enterprise.
Innovation for commerce: Shopify unveils engineering highlights
In the world of commerce, performance is a top priority, and Shopify made key updates in 2023.
Some of the key Shopify Engineering updates in 2023 included:
Optimizing load times from around 20 seconds to around 400 milliseconds for a list of 80,000 listings.
GraphQL Storefront API queries are now rendered 3 times faster, improving the overall performance of the Storefront API
Removed nearly 3 million lines of code to optimize systems and improve overall efficiency.
The core application server processed 967,000 requests per second during the peak of BFCM, which equated to 58 million requests per minute.
In summary, these engineering updates underscore Shopify's commitment to providing merchants with a powerful commerce platform.
Improved shopping experience: automatic language redirection for storefronts
To further increase personalization in e-commerce, merchants now have the option to seamlessly redirect visitors to translated storefronts. This is made possible by the "Language Redirection" feature within Shopify Markets.
This innovative feature recognizes a visitor's browser language and automatically switches the storefront when the appropriate translation is available. For this to work effectively, the desired language needs to be added to the store, mapped to relevant markets, translations added and published.
This improvement not only simplifies the shopping experience for visitors, but also demonstrates a commitment to a localized and user-friendly experience.
Reading tip: In our comparison of Shopify Markets vs Shopify Markets Pro, we give you valuable insights into the functions of both tools.
Changes in product data analysis: farewell to product insights
The beta version of Product Insights has been removed from the analytics section and will be replaced by enhanced reporting later in 2024.
During this transition phase, retailers will still be able to access Product Insights in the reports "Sales by product", "Sales by product variant", "Retail sales by product" and "Retail sales by product variant". Alternatively, the information is also available on the specific product detail pages.
These changes not only provide insights into the sale of products, they also signal the ongoing adjustment and improvement to provide retailers with an optimized sales reporting experience.
Automatic order cancellation for suppliers after 14 days
Shopify Collective now automatically cancels supplier orders if they meet the following criteria:
Orders that are older than 14 days
Orders that have not been fulfilled
Orders that have not been canceled
Orders for which the retailer has explicitly requested that fulfillment be canceled
This new feature optimizes the order management process and ensures that cancellation requests for older, unfulfilled orders are processed automatically. The implementation of this feature aims to increase efficiency and provide a smoother experience for both retailers and suppliers on Shopify Collective.
New: Price selection for draft orders
In addition, the market selection for draft orders has been improved and now allows merchants to customize the price and currency of their orders via a price picker.
However, it is important to note that changes to the price via the price picker will not affect the sales representative, product restrictions, available shipping rates and the payment gateway used. These factors remain dependent on the delivery location.
Shipping service suggestions when purchasing Shopify shipping labels
The selection of shipping services when purchasing shipping labels has also been improved. A suggested shipping service is now pre-selected based on similar orders in your store, instead of always automatically selecting the last service used. This increases accuracy and speed when purchasing shipping labels.
If your customer has selected a specific shipping service at checkout, it will be automatically selected when you purchase a shipping label, if available.
With the start of the new year, Shopify presents a whole range of updates and innovations. The provider is once again underlining its commitment to socially relevant issues such as climate change, but above all to the progress of its enterprise software and the satisfaction of its customers.
The upcoming Winter '24 Editions promise more than 100 updates aimed at optimizing the business experience for merchants.
With this successful kick-off, we are excited to see what innovations await us in 2024!
Latori: your partner for Shopify Plus
As a Shopify partner and the first Shopify Plus agency in Germany, Latori has first-hand knowledge and is always up to date with changes to the store system. We have had the pleasure of helping numerous national and international brands switch to Shopify Plus.
You would also like to switch to Shopify Plus? We will discuss the possibilities for your project in a non-binding initial meeting. We look forward to getting to know you! Contact us now.