In late Q3 of 2022, Shopify introduced Shopify Markets Pro, a powerful internationalization product that equips merchants with the tools needed to effortlessly navigate the world of global expansion. This offering builds upon the foundation of Shopify Markets, aiming to democratize globalization tools that were once exclusive to enterprise-level brands. In this comprehensive guide, we will delve into the specifics of what Shopify Markets Pro encompasses and why it’s a game-changer for businesses seeking to expand internationally.
Prerequisites for Markets Pro
Before diving into the intricacies of Shopify Markets Pro, let’s outline the prerequisites for accessing this advanced internationalization tool. To be eligible for early access to Markets Pro, you must be based in the United States and use Shopify Payments as your payment processor. Additionally, you cannot sell restricted items, and your store must adhere to Shopify’s specified shipping requirements.
Now, assuming you meet these requirements, let’s explore why Shopify merchants, even those already using Shopify Markets, should consider upgrading to Markets Pro.
Why Upgrade to Markets Pro?
Shopify Markets revolutionized the way merchants approach international sales by enabling them to reach a global audience through a single store, eliminating the need for expansion stores. Markets Pro takes this to the next level with several significant improvements, including a fraud checker and enhanced shipping options like cheaper DHL Express rates. Let’s examine the key features that Markets Pro introduces at each stage of the customer journey to enhance the experience for both merchants and customers.
Key Features of Markets Pro
1. Domains and Language:
Localization is paramount when targeting international markets. Shopify Markets and Markets Pro empower you to customize your store domain for each market and automatically redirect users to their local experience. Furthermore, the Shopify Translate and Adapt app allows you to translate store content into multiple languages, tailoring it to cultural nuances and improving both conversions and SEO. For instance, you can change “trousers” to “pants” for a US market.
Prices in local currency make a significant impact on purchasing decisions. Markets Pro lets you sell products in your customer’s local currency and include or exclude taxes based on their country. Moreover, Markets Pro offers guaranteed FX rates, ensuring currency fluctuations don’t affect refunds. You can also set specific product availability for each market in 2023.
3. Restrictions Management:
Markets Pro manages import restrictions automatically, ensuring your catalog complies with country regulations. If you have restricted items, Markets Pro will hide them, ensuring global buyers only see available items in their region.
4. Duties and Import Tax:
At checkout, Markets Pro calculates duties and import taxes, providing customers with a transparent view of additional costs. Customers can also choose local payment methods, such as Klarna, Paypal, Sofort, or iDeal, specific to their countries.
Markets Pro offers three shipping options to suit your business needs. You can purchase or print DHL Express shipping labels from the Shopify Admin, ensuring pre-paid duties and shipping at checkout. Alternatively, you can fulfill orders through a 3PL partner listed by Shopify or integrate your current warehouse into Global-E through their Shipping API for direct international order fulfillment.
All in One Place:
The best part is that all Shopify internationalization features, including Markets Pro, are accessible within your main Shopify Admin. You won’t need to navigate to separate platforms or applications for these functionalities, making it incredibly convenient.
Shopify plans to continue expanding Markets Pro beyond the United States and introduce more regional payment options in 2023. Additionally, they will broaden merchant fulfillment options by adding more 3PL partners to the list.
Markets Pro will include increased payment processing fees on international orders to cover service costs, while customers will bear the currency conversion fee, which you can adjust as needed.
With Shopify Markets Pro, the global expansion of your business becomes a seamless and efficient process. If you meet the prerequisites, it’s time to consider upgrading to Markets Pro and reaching new international markets effortlessly. To get started, you can head directly to Shopify or consult with a Shopify Plus agency, like us, for expert guidance and support throughout the setup process. Don’t miss out on the opportunity to take your business to the next level with Shopify Markets Pro.