Unlock Global Growth with Shopify Markets Pro
Table of Contents:
I. Introduction
II. The Challenges of Growing Your Business Globally
III. Shopify's Markets Pro: An Overview
IV. How Markets Pro Works
A. International Transactions Management
B. Creating Localized Experiences
C. Managing International Duties and Fees
D. Fulfilled By Markets Pro Express Carriers
V. How Buyers Experience Markets Pro
A. Localized Shopping Experiences
B. Geolocation and Domain Redirect
C. Local Payment Methods and Currencies
VI. Benefits of Using Markets Pro
A. Complete Cross-Border Solution
B. Flexibility and Customization
C. Enhanced Buyer Experiences
D. Simplified International Transaction Management
VII. Drawbacks of Using Markets Pro
A. Cost
B. Limitations in Market Inclusion
VIII. Conclusion
IX. FAQ
Growing Your Business Globally with Shopify Markets Pro
Expanding your business globally provides endless opportunities to attract and convert new buyers. However, navigating the complexities of selling internationally can be overwhelming, making it difficult to know where to start. That's where Shopify's Markets Pro comes in, offering an all-in-one cross-border solution that helps businesses grow globally with just a few clicks.
II. The Challenges of Growing Your Business Globally
When brands act as a merchant of record, they have the legal entity transacting directly with customers, which is straightforward when selling domestically. However, when expanding internationally, brands must navigate import duties, taxes, currency volatility, fraud, and more, while also providing an experience that feels completely localized to buyers.
Affordable international shipping rates are often out of reach, and buyers expect a localized shopping experience complete with local currency, language, payment methods, and content, adding even more layers of complexity.
III. Shopify's Markets Pro: An Overview
Markets Pro is Shopify's native and fully integrated Merchant of Record solution that enables brands to easily expand to hundreds of markets. With Markets Pro, all your international transactions are managed by Shopify, meaning it takes care of all the complicated responsibilities that come with selling internationally, while you maintain full control over the buyer experience, all managed through your Shopify admin.
IV. How Markets Pro Works
A. International Transactions Management
Markets Pro manages all your international transactions, allowing you to easily create a localized experience one country at a time, or by grouping countries together. Once a market is added, Markets Pro automatically vets them for import restrictions, ensuring your product catalog is compliant with local regulations and your buyers only see what they're allowed to purchase in their region.
You will automatically be able to sell your products in local currencies, and still have the ability to easily change your product prices from region to region, offering unparalleled customization by region.
B. Creating Localized Experiences
With Markets Pro, you can tailor your product availability based on market fit. This level of customization by region has never been so simple. Markets Pro makes international duties easy to manage for both buyers and merchants by automatically collecting duties at checkout and eliminating surprise fees at delivery.
C. Managing International Duties and Fees
Markets Pro covers the cost of any discrepancies in duties and fees at the border or with Shopify shipping carriers, with no action required from you. You also benefit from guaranteed foreign exchange, covering you from currency volatility on refunds, and fraud protection.
D. Fulfilled By Markets Pro Express Carriers
Once your international sales start rolling in, all orders are fulfilled through Markets Pro's express carriers, providing the best delivery experience with pre-customs clearance and package tracking. You can choose from a number of flexible fulfillment options, like Shopify Shipping, Shopify Logistics, selecting a pre-integrated third-party logistics partner, or building an API integration.
V. How Buyers Experience Markets Pro
Markets Pro boosts conversion by creating localized shopping experiences for your international buyers. Geolocation and domain redirect ensure that buyers automatically shop in their local experience, with their preferred local payment methods and in over 130 local currencies.
Localization tools like these lead to better shopping experiences that delight buyers everywhere.
VI. Benefits of Using Markets Pro
Using Markets Pro provides a complete cross-border solution that enables you to become a global brand overnight. You benefit from flexibility and customization, enhanced buyer experiences, and simplified international transaction management.
A. Complete Cross-Border Solution
Markets Pro takes care of all the complex responsibilities that come with selling internationally, while you maintain full control over the buyer experience, all managed through your Shopify admin.
B. Flexibility and Customization
Markets Pro allows you to tailor your product availability and pricing based on market fit, providing unparalleled customization by region.
C. Enhanced Buyer Experiences
Markets Pro creates localized shopping experiences for international buyers, boosting conversion rates, through geolocation and domain redirect for automatic shopping in preferred local payment methods and in over 130 local currencies.
D. Simplified International Transaction Management
Markets Pro simplifies international duties and fees management, providing fraud protection and guaranteed foreign exchange to cover chargeback losses.
VII. Drawbacks of Using Markets Pro
While Markets Pro offers many benefits, there are some limitations. Using Markets Pro can be costly, hurting small businesses with tight budgets. Additionally, some markets may not be included, limiting the growth opportunities of certain brands.
A. Cost
Using Markets Pro can be costly, and budget constraints may not allow some small businesses to use it for cross-border sales expansion.
B. Limitations in Market Inclusion
Markets Pro may not cover all markets, which could limit the potential global growth opportunities for some brands.
VIII. Conclusion
Shopify's Markets Pro offers a complete, native solution to selling internationally, making it easier for small businesses to expand their sales horizon without worrying about technical nuances of selling abroad. It provides flexibility and customization to businesses, while simplifying international transaction management, and promoting enhanced localized shopping experiences for buyers worldwide.
IX. FAQ
Q. What is Markets Pro?
A. Markets Pro is a Shopify native and fully integrated Merchant of Record solution that enables brands to easily expand to hundreds of markets, providing a complete cross-border solution for international sales.
Q. How does Markets Pro work?
A. Markets Pro manages all your international transactions, allowing you to easily create a localized experience one country at a time, or by grouping countries together. Once a market is added, Markets Pro automatically vets them for import restrictions, ensuring your product catalog is compliant with local regulations and your buyers only see what they're allowed to purchase in their region.
Q. What are the benefits of using Markets Pro?
A. Using Markets Pro provides a complete cross-border solution that enables you to become a global brand overnight. It benefits from flexibility and customization, enhanced buyer experiences, and simplified international transaction management.
Q. What are the limitations of using Markets Pro?
A. The main limitations of using Markets Pro are the cost and market inclusion. Using Markets Pro can be costly, hurting small businesses with tight budgets, and some markets may not be included, limiting the growth opportunities of certain brands.
