Shopify launched Shopify Markets Pro, their latest internationalization product, at the end of Q3 of 2022. The offering provides merchants with efficient tools to handle international expansion with ease. What exactly does that cover? Allow us to walk you through it.
Note: Markets Pro is an extension of Shopify Markets, created to democratize globalization tools that have, in the past, only been available to enterprise-level brands. Merchants eligible for Markets Pro benefit from Shopify Markets features and additional features provided by Markets Pro. To read more about Shopify Markets, check out our article.
First, we must review the current pre-requisite to jump on Markets Pro. For early access, you will need to be based in the US and use Shopify Payments as your payment processor. You won’t be able to use pro if you are selling restricted items, and you need to ensure that your store follows the shipping requirements outlined by Shopify (you can find the full list of requirements right here). Are you ticking all of those boxes? Good! Then let's continue.
I already have Markets - why would I need this?
Shopify Markets was a game changer in making any Shopify merchant's life easier when it comes to selling internationally. With Shopify Markets, you can sell internationally from a single store rather than through expansion stores.
Then you have Markets Pro, which, with its new functionality, you can think of as the next level up. The changes from Markets to Markets Pro are worth noting, with the biggest differentiator being the fraud checker included in Markets Pro and the shipping changes, including cheaper DHL express rate (more carrier option in the future), duties, and taxes handling at checkout – all of which is explained below (for the differences between Shopify Markets and Markets Pro check out Shopify’s side by side comparison table). So now on to the customer journey and what Markets Pro adds at each stage to make this better and easier for you and your users…
Domains and language
To succeed when going international, localization is your best option. Creating an environment that looks, sounds, and feels unique to your customer's location helps create a better user experience and, in turn, boosts conversions. So, store domains and languages are some of the biggest and best changes you can make to your store to cater to your shoppers' location.
With Shopify Markets and Markets Pro, you can customize your store domain per market and automatically redirect your user to their local experience. Plus, you can translate your store content into multiple languages through Shopify Translate and Adapt app and adapt this content to each market’s cultural differences helping with conversions and improving SEO. For example, changing content like the term “trousers” on a UK store to “pants” on a US store.
Domains and Languages are key to making your user comfortable during their browsing, but prices will be what makes the difference when hitting the buy button.
As with Shopify Multi-Currency, Markets Pro allows you to sell products in each customer’s local currency and include or exclude taxes based on your customer’s country – making the customers’ international shopping experience seamless. With Markets Pro, you have guaranteed FX rates, so you don’t have to worry about currency fluctuation on refunds.
As with Shopify Markets, merchants using Markets Pro will be able to set their pricing per market to manage their margins. And in 2023, you can set specific product availability per market with Markets Pro.
Currently, restrictions management is available on Markets Pro. Restrictions management manages import restrictions for you so your catalog complies with country regulations. If you have restricted items, Markets Pro will automatically hide them so that global buyers can only see the available items in their region.
Duties and import tax
Congratulations! Your customers have successfully added products to their cart based on the pricing you set and are now moving toward checkout.
At checkout, Markets Pro will provide your customers with a guaranteed calculation of the duties and import taxes that will be required before adding this to the total cost. No more wonderful tax surprises for your customers to pay in order to receive their items! Markets Pro will also offer your customers the options to pay with local payment methods specific to their countries (such as Klarna, Paypal, Sofort, or IDeal).
All of this without ever getting out of Shopify Checkout on your store. Once your customer completes their purchase, Shopify will be liable for the taxes, duties, and specificities inherent to global shipment and different jurisdictions (and Global-E powering the experience).
What about deliveries? Markets Pro has you covered when it comes to your shipping and delivery, offering 3 options to choose from that best suit your business:
- You can buy or print DHL Express shipping labels from the Shopify Admin. Your user will not be allowed to change their shipping country, as the pre-paid duties and shipping are accounted for and paid for at checkout.
- You can fulfill your orders through a 3PL partner that is within the list provided by Shopify (see below). This will require some adjustment from you (in your store) and your partners to properly account for and fulfill your international order with Markets Pro.
- You can integrate your current Warehouse into Global-E through their Shipping API and allow Global-E to handle the fulfillment of your international orders directly.
That sounds great, but where can I handle all of this? This is the best part, all Shopify internationalization features live right in your main Shopify Admin. So, there is no need to access Markets Pro from somewhere else or use a different application. The same goes for the reporting associated with it and the translations. Everything will be done within Shopify.
Note: There is a price limit to international shipping applying to jewelry items - an individual product e.g. a watch cannot be valued at more than USD 5,000 per item, with a total order limit of USD 25,000, to use Markets Pro shipping. Find out more about Shipping with Markets Pro and contact us for advice on how best to set your logistics internationally.
Are there any more features to come?
The short answer is yes. It won’t come as a surprise that Shopify has and will continue to add and expand Markets Pro. What you can expect in the near future is the rollout of Markets Pro for merchants outside of the US and more regional payment options in 2023. We can also expect Shopify to broaden merchant fulfillment options with more 3PL partners to be added to the list mentioned above.
What about the cost? Markets Pro will have increased payment processing fees on international orders to account for the service cost, while the currency conversion fee will be paid for by the customer – you can adjust this currency fee.
So, If you’ve stayed with us this far, you might be asking, “Where do I sign up?” this is where a Shopify Plus agency, like us, comes in. You can head directly to Shopify or reach out to our experienced Shopify team – we’ll talk you through the process in further detail and get you set up on Markets Pro.