As a Shopify merchant, you're probably already familiar with Shopify Markets and know that it allows you to easily sell to multiple countries from one store.
Shopify Markets Pro is now in the starting blocks. With the new extension suite, you can more easily comply with international regulations and access over 150 markets without any additional effort.
We'll explain the other benefits and functionality in this post. We'll also show you exactly how the tool differs from Shopify Markets.
NOTICE: Currently, there is only Early Access (access to the early development stage) to Shopify Markets Pro. Merchants can only get this if they submit a specific request and it is approved after a review.
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As an experienced Shopify Plus agency, we are the right contact for you if you want to push the internationalization of your company. We are happy to assist you with advice and support - contact us!
What is Shopify Markets?
Before we take a closer look at Markets Pro, let's summarize the features of Shopify Markets.
The tool is designed to simplify cross-border commerce. With just a few clicks, you can enter one or more new markets and localize your individual stores within your admin area. After all, each country has its own specifics such as currency, local language, preferred payment method or holidays.
Reading tip: We explain when international sales with Shopify are worthwhile for you and how to implement them in the blog post.
Shopify Markets Pro: What is it?
Shopify Markets Pro extends the features of the multinational management tools offered by Shopify Markets to help you further grow and optimize your international stores. Let's take a look at the key features.
Domains and language
With Shopify Markets and Markets Pro, you adapt your store domain to each marketplace and automatically redirect your users to their local listings. You can also use the Shopify Translate & Adapt app to translate your store's content into multiple languages and adapt it to the cultural differences of each market. This increases conversion rates and improves your SEO.
Reading tip: Conversions determine success and failure in e-commerce. In this blog post, we show you how you can optimize the conversion rate.
Currency
Like Shopify Multi-Currency, Markets Pro allows you to sell products in your customers' local currency and include or exclude taxes based on their country of origin - giving your customers a seamless international shopping experience. With Markets Pro, you get a guaranteed exchange rate, so you don't have to worry about currency fluctuations on refunds. As with Shopify Markets, merchants using Markets Pro can set prices per marketplace to manage their margins. What will be new, however, is that they can also set the availability of certain products for each market.
Customs duties and import tax
At checkout, Markets Pro provides your customers with a guaranteed calculation before any applicable duties and import taxes are added to the total cost. This means your buyers will no longer experience any tax surprises. What's more, your clientele can pay using local, country-specific payment methods. Then, Shopify takes care of the taxes, duties, and idiosyncrasies associated with global shipping and individual jurisdictions.
Reading tip: Learn how Shopify Plus merchants will use apps to customize their checkout in the future with the new Shopify Checkout Extensibility.
Shipping
Shopify Markets Pro offers 3 shipping and delivery options that best suit your business. Here's how you can
... purchase or print DHL Express shipping labels in your Shopify admin area.
... fulfill your order through a 3PL partner listed in the Shopify provided list.
... integrate your current warehouse with Global-E via the shipping API and have your international orders processed directly by the platform.
The best part is that all of these Shopify features are available right in your Shopify admin.
Reading tip: The 11 best apps for Shopify in the Shopify App Store to help you master taxes, cookies, product data and more with your ecommerce business.
Shopify Markets and Shopify Markets Pro in direct comparison
Below we compare the two tools to highlight the main features and differences.
Fees for international orders
| Shopify Markets | Shopify Markets Pro |
|---|---|
| When converting currency: 2% fee per order. | Transaction fee: 6.5 |
| When calculating taxes and duties with Shopify Payments: 0.85% per order | Currency conversion fee: 2.5 % (paid by the customer) |
| When using other payment methods: 1.5% fee (may vary for local payment methods) |
Cross-country payments
| Shopify Markets | Shopify Markets Pro |
|---|---|
| Local country currencies through Shopify Payments | 136 different national currencies available Payouts in your own currency Greater choice of local payment options For international sales, you can use Shopify Markets Pro instead of Shopify Payments Fraud coverage Fast chargebacks (to protect against currency fluctuations) |
| Local payment methods through Stripe (a selection) | Payouts in your own currency |
| Greater choice of local payment options | |
| For international sales, you can use Shopify Markets Pro instead of Shopify Payments | |
| Fraud coverage | |
| Fast chargebacks (to protect against currency fluctuations) |
Reading tip: We introduce Shopify Payments and all the other payment options Shopify merchants can offer their customers.
Global fulfillment and shipping
| Shopify Markets | Shopify Markets Pro |
|---|---|
| Discounted Shopify shipping labels with no customs fees | Discounted DHL express shipping labels |
| Third party shipping labels app | International orders possible natively via Shopify admin area or via third-party fulfillment partners |
Customs duties and taxes
| Shopify Markets | Shopify Märkte Pro |
|---|---|
| An estimate and collection of customs duties and import taxes may be offered at checkout | Customs fees and taxes are automatically calculated and collected at checkout |
| Does not support Delivered Duty Paid (DDP) | DDP shipping can be offered with DHL Express at checkout |
| Prices are calculated including taxes if this is set as default | |
| If taxes and customs fees of your goods need to be adjusted after customs clearance, Markets Pro will cover these additional costs |
Reading tip: Learn how to use Tax Exempt Manager 2 (TEM 2) to implement VAT exemption for B2B customers in your Shopify store.
Localization
Both Shopify Markets and Shopify Markets Pro can:
Localized, international domains can be used.
Guide customers to regional domains.
Provide language and country recommendations to shoppers (based on location and browser language).
Stores can be translated into other languages.
Market processes
With Shopify Markets as well as with Shopify Markets Pro:
Manage multiple markets from one admin area.
Add individual pricing by market.
Shopify Markets Pro: The advantages at a glance
Now that we know the more technical advantages of Markets Pro, let's conclude by summarizing the concrete opportunities for you as a trader.
1. Compliance with international taxes and duties
Complying with international taxes, duties and restrictions is not that easy. Shopify Markets Pro automatically displays applicable taxes and duties in the checkout. If there are subsequent adjustments, the tool takes over the added costs.
2. Protection against foreign exchange and fraud
Auch Betrug und Währungsschwankungen sind Herausforderungen, mit denen internationale Händler konfrontiert werden. Mit Shopify Markets Pro sind Sie gegen Kartenbetrug und Kreditkartenrückbuchungen abgesichert und erhalten eine Wechselkursgarantie.
3. Faster and cheaper shipping labels
Negotiating favorable international shipping rates is difficult. With Markets Pro, managing customs documents and obtaining shipping labels is made much easier for you.
4. Great customer experience
With multiple payment methods, local payment capture, and guaranteed upfront fees, customers can shop in their local currency and not be hit with surprise fees upon delivery.
Reading tip: How to develop an omnichannel strategy with Shopify and successfully implement it using omnichannel marketing.
Conclusion
Even though Shopify Markets Pro is currently not available for all merchants, you should take a look at this tool if you want to expand. This is because Markets Pro offers international merchants enormous potential. Compared to Shopify Markets, the Pro version shines especially with the fraud check included in it, the shipping changes, and the automatically displayed taxes and duties in the checkout.
If you need help with your project feel free to contact us and we will be happy to help you.
Frequently asked questions about Shopify Markets vs. Shopify Markets Pro
How does Shopify Market work?
Shopify Markets lets you localize your storefront for different markets to provide a better customer experience for your clientele. Specifically, you can use this tool to display local currencies, offer regionally relevant payment methods, and use localized domains, for example. Within your Shopify dashboard, you can use all these features and more, comparing and optimizing your different stores to make your international sales flexible and efficient.
How do I install Shopify Markets?
Click on the "Settings" section in your Shopify admin area > select "Add store" > activate the store you want to provide with a localized shopping experience. You can then access a selection of features.
What are the differences between Shopify Markets and Shopify Markets Pro?
With Shopify Markets, the focus is on localization, which is why the features are mostly geared towards optimizing the storefront for international markets. Shopify Markets Pro, on the other hand, is more about making international operations easier and more secure. For example, Shopify takes on much of the responsibility for managing cross-border sales.
How much do Shopify Markets and Shopify Markets Pro cost?
There are no monthly fees to pay for either Shopify Markets or Shopify Markets Pro. You can use most features for free with your Shopify subscription. For international orders, the following fees apply:
Currency conversion fee: Markets 2%; Pro 2.5%
Transaction fee: Markets 0.85% - 1.5%; Pro 6.5
When is Shopify Markets Pro coming?
Currently, Markets Pro is only available to certain merchants, with availability to be expanded in the spring of 2023.