achieve a internationalization effective is the goal of any brand. However, it is a quite complex processespecially for the small companies They don’t have the resources or equipment to drive this kind of growth.
In response to this growing need, the Canadian Shopify spear Shopify markets, a tool for promote international trade in a centralized and automated way that will help small businesses have an impact within the global market without great economic efforts: with this new function, Shopify-based stores will be able to manage from a single place what products, at what prices, in what currencies and with what payment methods to sell in each market.
Shopify Markets, a tool to boost international sales for small businesses
For this year, more than a quarter of the businesses that manage their store through Shopify make the majority of their sales internationally. In Spain alone, 45% of the traffic received by stores is internationalTherefore, cross-border sales pose a particular importance in the growth and development of business. On the other hand, although the platform allowed sales to external buyers, in order to sell internationally, businesses had to do so through third-party platforms or marketplaces.
With Shopify Markets, sellers can expand their reach into new markets and easily sell anywhere in the world through a centralized hub within the same platform. This creates a unique growth opportunity for businesses, as explained Kintxo CortesCountry Manager of Shopify Spain:
“It is a great opportunity for Spanish businesses to take advantage of this trend through the use of Shopify Markets. With this new implementation, we are helping to remove the complexity of international selling and giving entrepreneurs around the world the opportunity to harness the true potential of borderless commerce, without the challenges of currency conversion or localization, for example. . We are making trade better and easier for everyone everywhere.”
This is how Shopify Markets works
Among its main functions is that of convert product prices to more than 133 local payment currencies, thus adapting to the economy of each of the different markets. It also offers the option of translate store contentbuilding a more fluid and comfortable experience for consumers.
Depending on the country in which it is sold, it offers the possibility of automatically calculate the duties and taxes to be paid. These will appear on the checkout screen, clarifying the final value of the sale to ensure transparency during the checkout process. To that is added the integration of local payment methodssomething that will help drive conversions as consumers know and trust them.
Lastly, it has various local domains with automated optimization for stores to more easily integrate into new markets. This adds to another series of customizable functions and the analysis of performance and information on the different countries, which helps improve strategies for internationalization.
When and how will Shopify Markets be available
This new tool is not yet deployed for all Shopify users, although it is expected that it will be released globally in the coming months. At the moment it is enabled for some vendors and it is possible to request early access from any country through the . The functions will be released depending on the plan that the seller has enabled in their Canadian platform account.
All Shopify plans will have the following features:
- Manage Appearance: how it is sold in each market from a single place.
- Sell in 133 currencies thanks to Shopify Payments.
- To make a toast local payment options with Shopify Payments.
- Being able to sell up to 20 different languages.
- Configure domains of country to optimize the search
- Access smart settings to optimize market operations.
Similarly, those businesses that have plans to Advanced Shopify either Shopify Plus They will include additional features such as the following:
- Estimate and collect customs and import taxes at the time of processing the payment.
- Set custom prices for each marketplace with Shopify Payments.
- Customize catalogs and online stores according to the market.
- Manage the order preparation centers according to the different markets.
the fine print
Shopify will apply some fees for international sales transactions:
- 2% per order when making the currency conversion.
- 0.85% for each order when calculating taxes with Shopify Payment and 1.5% when doing it through other payment methods.
- Different charges according to the type of local payment used by consumers, which can be validated on the platform.
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