If you’re looking to expand into international eCommerce markets, Shopify Markets lets you sell to customers worldwide from a single online store.
Ecommerce accounts for $5.2 trillion in sales globally. In the UK alone, eCommerce sales have been on a rapid increase with 82% of the UK population buying at least one product online in 2021.
Shopify is one of the biggest ecommerce selling platforms, trusted by the some of the world’s biggest brands whilst still facilitating easy store setup and management for smaller businesses.
Now Shopify Markets supplies a seamless toolkit for maximum cross-border visibility so you can sell internationally with multi-language and multi-currency support.
We’ve taken a closer look at what Shopify Markets means for your business.
What is Shopify Markets?
Shopify Markets is a set of tools aimed at making international selling easier. Automated duties collection, multi-currency support, custom inventory per market and localised domain control are just a few of the features that will revolutionise international commerce through Shopify.
Shopify Markets rolls all these features into one centralised dashboard alongside great analytics and automation. So, your admin operations are streamlined, and you can spend more time rolling out into new markets.
Shopify Market Features and Tools
Shopify already offers great eCommerce features. But Shopify Markets is a significant upgrade to the existing Shopify ecosystem. What are its main features of this new tool?
Currency & Duty Management
International customers can now buy in their own currency with support for over 130 different currency options, a list of which you can see on the Shopify website.
This multi-currency experience is consistent across your store, from product pages to refunds, so that international shoppers can buy with confidence. In addition, offering local currencies can cut cart abandonment by 33%.
On top of this, Shopify Markets automatically calculates and collects tax and duty at checkout. So customers have total cost transparency and aren’t hit with additional charges at delivery, creating buyer confidence and improving conversion rates.
Trusted Local Payment Methods
Not all customers trust the same payment methods. Shopify Markets offers everything from credit, and debit card payments, favoured in the US, to third-party applications like PayPal, preferred in the European market.
Like currency options, using a preferred and trusted payment method can make the difference between a sale and an abandoned basket.
Local payment methods are included in Shopify Payments, while alternative methods are charged at 1.5% per transaction, with a 2% fee for currency conversion.
40% of customers won’t consider buying from your store if you don’t offer their preferred language option. And 80% strongly prefer to shop in their native language.
Shopify Markets features native language support so you can improve the shopping experience for international customers.
This helps the site’s international SEO, making it more likely to rank well internationally. And there’s no need to set up different stores for your target countries and regions.
The integrated language apps on the platform are straightforward to use, letting you dynamically set up your store for ease of navigation.
Localised URLs & Geolocation
When you’re trying to break into international markets, it pays to make your customers feel at home. Shopify Markets offers localised URLs you can associate with a specific country or language. The result is a relevant and localised version of your store that improves customer confidence.
What’s more, the free geolocation app (which you will need to install) can automatically redirect customers to the right URL when the land on the site making the process seamless.
For example, let’s say a US customer browses your website based in the UK. When they land on the site, they will be prompted with a pop up to use the US version of the site. After this, the user will be able to navigate in USD on a separate URL structure (eg. www.examplesite.com/en-us’.
In addition, Shopify Markets automatically generates Hreflang tags – an important SEO feature for international targeting making your site easier to discover whatever the location and avoiding duplicate content issues across similar content.
Increasingly, sellers are using warehousing solutions worldwide to serve their customers better. So with Shopify Markets, your buyers will only see the available inventory in their local market.
For example, if you have warehouses in the UK and Germany to ship to your localised markets, European customers will only see what’s available in Germany. As a result, you can manage your stock better and avoid overselling certain products.
Custom Automation and Analytics
Shopify Markets also offers plenty of customisation when you need to define market areas and create single or multiple country markets.
For example, it may be more viable for your business to manage several regions grouped together. And by using Shopify Market’s dashboard, you can avoid duplicating your strategies for different markets.
Sellers also get Shopify Market’s built-in analytics to track their performance across international markets.
This functionality lets you predict demand, set goals and make informed data-based decisions.
Shopify Markets Plans and Options
The Shopify Market options you can access depend on your Shopify plan. So sellers using Shopify Plus and Advanced Shopify can expect to see additional features.
All sellers will be able to access the core features of the Shopify Markets platform to make selling into multiple markets easier:
- Selling in up to 20 different languages
- Selling in all 130+ supported currencies, with local payment options via Shopify Payments
- Custom localised domains with SEO optimisation features
- Smart settings to automate and optimise a range of market operations
Additional features for Shopify Plus and Advanced customers include:
- Customise storefronts and catalogues for different markets
- Use Shopify Payments to set custom pricing in different markets
- Estimate and collect import taxes and duty at checkout for transparent pricing
- Manage fulfilment options by market
These extra Shopify Market features are well-suited to larger enterprises looking to establish and maintain a competitive presence in international markets.
Should you use Shopify Markets?
If you want to improve your presence in international markets, Shopify Markets delivers a centralised hub that lets you make the most of the opportunities.
As international eCommerce trade barriers continue to blur, Shopify Markets offers a fully integrated all-in-one dashboard to help you grow your international trade.
How to Add Shopify Markets to your Store?
The feature will be automatically activate for you when you set up your store, including your target country as your primary marketplace.
To add a new market, go to the backend of your Shopify website >Settings>Markets. From here you will see a dashboard where you can easily add/edit any new markets you want to expand to. In order to show the automatic redirection popup you will need to add the Shopify Geolocation app as well.