Shopify's online wholesale business is here, with 0 comission for its services.
The company has announced the launch of its new online wholesale platform Handshake on its official website, which is open to both downstream retailers and upstream suppliers.
According to the official description, Handshake is "the bridge between retailers and suppliers", offering tens of thousands of products to downstream retailers, all within the Shopify ecosystem, i.e. if a retailer using Shopify purchases products through Handshake, then inventory, billing, and orders are all business as usual.
Shopify says it launched Handshake as a new online wholesale marketplace after talking to retailers across North America to understand their needs, and now offers them services such as "search less", "unique brands", "meet the manufacturer" and more. "Meet the manufacturer", etc. Firstly, Handshake provides a detailed product catalog for retailers to select products efficiently online; secondly, all brands on the Handshake platform have been screened and retailers can select products from different sources via the "suppliers from" function button; furthermore, retailers can connect directly with suppliers without having to contact other distributors.
For merchants who want to sell wholesale (currently Shopify merchants only), Handshake does not charge any fees and can manage both Handshake's wholesale business and its own retail business on its own site directly from the Shopify backend.
It's worth noting that when logging into the Handshake site, a distinct message appears: retailers purchasing items on the site must be located in the US and must have a Shopify account. In other words, Handshake currently only serves US merchants who use Shopify to open a shop.
However, Handshake also points out in the introduction that although it is currently only open to the US market, it will expand to more countries next.
According to Yibang Power, Handshake was originally a New York-based B2B e-commerce startup that was acquired by Shopify in May 2019, and Shopify had noted in a statement that Handshake would be part of Shopify's expanded Shopify Plus service. And before that, Shopify had also acquired another B2B platform - Oberlo - to create a wholesale channel for Shopify Plus customers.
【Source text: by report】
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