WHAT IS SHOPIFY MARKETS?
One of the biggest advantages of digitalisation and globalisation is that any company can take the leap and sell in other countries and regions, something inconceivable with a traditional business model. By creating an online store and implementing the required functions and options, you can offer products and services across the world.
Shopify Markets is a new functionality of this platform, especially designed for boosting your e-commerce international sales, a very appealing alternative for many businesses which want to extend their area of activity to other countries in order to grow and increase their income.
Shopify Markets is a new functionality of this e-commerce creation and management platform, which allows an online store to boost their international sales in a centralised and automated way.
Shopify Markets is a very useful tool so small businesses can overcome all the barriers international sales entail, and offer their products and services anywhere in the world.
Through a centralised hub on the platform itself, an e-commerce of Shopify can now sell easily in any external market, eliminating the complex processes associated with international sales.
How does Shopify Markets work?
Online stores which obtain or join Shopify Markets will benefit from new functions and characteristics in their administration panel, all intended to facilitate and boost the processes and actions related with international sales.
What are the characteristics of Shopify Markets?
Among the main characteristics offered by Shopify Markets, the following stand out:
Working with different currencies
Shopify Markets allows the e-commerce to offer their products and services in 133 different currencies thanks to the implementation of the Shopify Payments section. This means the store can adapt to the currency of the country it is going to sell in, making it easier for customers from this area to make purchases and compare prices.
Translate the store to other languages
Through Shopify's multi-language option, the store can be quickly and easily translated to 20 different languages. For example, if you want to sell in Spain, the United Kingdom, Germany or France, the localised store for these four languages is available, in such a way that if a user from any of those countries accesses the store, they will find it in their language and with their own currency (Euros in the case of Spain, France and Germany, and Pound Sterling in the case of the United Kingdom).
Having the e-commerce available in the language of the country where you are going to sell is essential for increasing the number of sales and the visibility of the store.
Automatic calculation of duties and taxes
Another very important function in order to be able to sell in other countries is the calculation of the corresponding duties and taxes, which vary in each country. With Shopify Markets this calculation is made automatically due to the tool with the customs requirements being automatically updated for the countries you will operate in.
These values will be shown separately on the customers’ payment screen, so they can be clear about what each concept of their purchase corresponds to.
Integration of local payment methods
In order to increase e-commerce sales, it is necessary to include the most popular payment methods used in each region or country. Shopify Markets implements many payment methods so that international customers can select their usual payment method.
Use of local domain extensions
The domain extension is important to improve the search engine positioning for the country which the e-commerce is accessed from, and so users have greater confidence in the online store.
Shopify Markets has different local domains with SEO optimisation to facilitate positioning and the introduction of the store on new international markets.
Customised prices for each market
A very interesting function which Shopify Markets provides is that of personalising the price of products for each country or region. This permits greater flexibility when selling in different countries, making offers by regions, etc.
Order preparation centre management
It also offers different options to manage the order preparation centres depending on the different countries where the packages from the store will be sent. This function allows optimisation of shipment times so they leave as soon as possible for international destinations, reducing the transit time.
What advantages does Shopify Markets offer an e-commerce?
The main advantage of Shopify Markets is that it allows international sales in a quick and easy way, without the need to have extensive knowledge of international trade, or to be a web programmer or designer.
Among the main benefits which the Shopify Markets service offers, we can highlight the following:
Accessing new international markets
One of the main benefits of this new function of Shopify is to enable small online stores to operate outside their local setting. International trade can be very complicated for small companies without resources, which is why Shopify Markets offers many functions which break down these barriers.
Optimising border operations
With Shopify Markets, you’ll have updated information about taxes, duties, payment methods and lots of other data which facilitates sales in other countries. It will be very simple to comply with the requirements of each customs office when making international shipments, avoiding any related problems, such as the detention of packages in customs, or unexpected extra charges.
Saving time and costs
The management of all international stores is carried out from the same platform, thus achieving greater ease of use and saving lots of time, effort and money. With all the options of Shopify Markets integrated in a centralised way, it is easier to control all the international stores managed.
Increasing the business’ visibility
A small e-commerce can be discovered outside its usual area of operation, reaching millions of users across the world. It is an opportunity to take a great leap forward and reach many potential customers, making yourself known in other countries.
Improving the company image
An e-commerce which operates internationally projects an image of professionality and seriousness which will make many users trust it more. If the company is capable of selling in different countries, it can be assumed that it is a reliable, efficient business with a great capacity to deal with the orders it receives.
Increasing sales
Finally, and probably most importantly, with Shopify Markets e-commerce sales will increase significantly, receiving orders in different countries. This is a way of ensuring the stability and growth of the business, as well as avoiding problems related with instability or crisis in a market, due to operating in different regions or countries.
The Shopify platform has taken an important step to enhance its e-commerce with the Shopify Markets functions, which open the possibility to any online store created on its platform to take the leap to an international level by selling in other regions or countries.
These functions do not require in-depth knowledge of web development or international trade to be able to use them, since all the international stores can be managed centrally from the Shopify interface (much easier and more convenient than having to do this independently).