Shopify Puts Down Roots in L.A. With First Retail Space
*By Carlo Versano*
Shopify, the Canadian e-commerce and point-of-sale software company that built a small empire helping small businesses go online, is now expanding in downtown Los Angeles with its first brick-and-mortar space.
The space is less "store" and more "community space for entrepreneurs," said Shopify ($SHOP) product boss Satish Kanwar.
"Our goal is to make entrepreneurship more accessible," he said Thursday in an interview on Cheddar.
The space will be open seven days a week and feature workshops and classes with Shopify experts; host lessons on merchandising, marketing, and photography; and facilitate one-on-one appointments that merchants can book, à la Apple's ($AAPL) Genius Bar.
Downtown L.A. was the obvious location for planting the first brick-and-mortar flag in the ground, Kanwar said ー given how many Shopify merchants are from the Los Angeles area (10,000, by his count, and over 600,000 worldwide).
But the concept can be tailored to any area with a healthy population of small business and start-ups.
"Entrepreneurship can be difficult and hard at times," Kanwar said.
Shopify wants to provide a service for existing customers and attract a pool of new ones ー some of whom may not even know the service exists but may see the space and think about that business they've always wanted to start.
Of course, it's also indicative of a move into physical retail "experiences" for brands that were once synonymous with e-commerce operations. Sure enough, Kanwar used the "experience" buzzword to describe how he sees people interacting with the Shopify space. By having a retail footprint that isn't purely transactional, people can "learn about what you stand for," he said.
For full interview [click here](https://cheddar.com/videos/a-look-at-the-future-of-retail-with-shopifys-satish-kanwar).
The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
Jeff Benedict, author of 'The Dynasty,' weighs in on the Kansas City Chiefs being the next big dynasty, who he thinks will win Super Bowl LIX and more. Watch!
Susan Bourgeois, Louisiana Economic Development Secretary, talks preparations for Super Bowl LIX, plus Meta’s $10B data center coming soon to North Louisiana.