Earlier quoted context omitted.
Shopify* has three non-merchant-driven discovery channels now: Walmart, Facebook, and their own Shop app. I think Shopify is in a much better bargaining position than Walmart.
I don't think Shopify really needs discovery or awareness among customers/buyers. Shopify's customers are merchants, businesses and manufacturers, each advertising their very own store and sales channels. For them it's hard not to consider Shopify as their ecommerce platform of choice. Meanwhile I'd argue that end customers couldn't care less about which ecommerce platform their store of choice is using. Therefore I…
I do though. I tried to place an order on an online service providers website to get some work done that I couldn't do on my own with my work laptop. They used shopify to process all payments and my order got denied. Not by the provider, not by my bank. But by shopify. I got a hold of one of the companies cs staff who looked into it and told me I was sol. Shopify had flagged my transaction as fraudulent and there's nothing he could do. Calling my bank didn't help, they didn't see the transaction as suspicious and would have authorized the transfer. Ultimately I gave up and will have a vile taste in the back of my mouth whenever I hear of shopify. The company I tried to patronize lost a customer, and shopify gets free bad press from me.
So, while shopify doesn't need discovery or awareness among customers, shopify can't afford to get bad press without decent consumer ad spend else their actual customers may jump ship to avoid being tainted by their brand.
If shopify fubars this deal with walmart that could start a snowball.