Shopify targets physical retailers after an overly aggressive bet on e-commerce - Saltwire
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“They are leaning into their POS solution,” said Toner, referring to point-of-sale technology that allows retailers to process transactions.
The current reality is forcing Shopify to “right-size,” Toner said.
Toner said Shopify’s overarching strategy hasn’t changed despite the layoffs and losses.
“The needs of offline retailers are not entirely different than the needs of their merchants,” Toner said.
, Canada’s largest e-commerce company, announced Tuesday that it will start selling new hardware for brick-and-mortar retailers, as it attempts to recover from an overly aggressive bet on the speed at which the economy would move online.
It was a humbling moment for Shopify, which at one point during the pandemic had grown to become Canada’s largest company by market capitalization.
The company’s stock price has since tumbled below its pre-pandemic value.
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