Shopify is an ecommerce provider that has enjoyed a meteoric rise in popularity over the last few years. Whilst it still tails WordPress as the leading website designer (for website designs concerned with CMS, at least) Shopify is the fastest growing online store builder in the world, as well as being the most searched ecommerce solution available. This month, Shopify launched Shopify Markets, a new ecommerce tool that will enable sellers to manage their cross-border storefronts from a central hub. Here’s everything you need to know.
What Is Shopify Markets?
Essentially, the new ecommerce solution is designed to make it easier for sellers to sell cross-border. This is because Shopify Markets will automatically take care of obstacles such as language localization, currency conversion and will even allow merchants to manage their import and export taxes.
This tool, which also allows merchants to set up their own storefront, will mean that it is much easier for sellers to enter new markets. Shopify Markets will allow users to check product availability in individual locations, as well as other specific insights into each market. Just like with other Shopify products their will be different payment plans for users to choose between. Those using Advanced Shopify or Shopify Plus will get additional benefits such as managing fulfilment locations in different locations.
How Else Can You Benefit From Using Shopify Markets?
Another interesting thing merchants should be aware of is that Shopify has recently struck a deal with the marketing service Yotpo. Yotpo is a leading marketing provider who can handle direct-to-consumer marketing such as referrals, SMS and email for digital brands.
This should excite ecommerce sellers as marketing is one of the best ways to grow your brand, especially when entering new markets. Yotpo has said that their main aim is to accelerate product development and growth, will which work perfectly with Shopify Markets.
Are Shopify The Ecommerce Provider Of The Future?
It is definitely looking that way. There is the issue of the fact that the service is currently mainly only useful in USA and Europe, although it does have plans to expand into the Asian markets. This being said, they are still one of the biggest ecommerce providers in the world. Shopify has over 1 million active websites, and they are also responsible for almost 4% of the top 1 million websites in the world.
This is mainly due to their dominance of English speaking ecommerce websites. Shopify have over 800,000 websites in the US and almost 50,000 in the UK. It is thought they command a market share of 31% in the US when it comes to ecommerce websites. The launch of Shopify Markets, as well as the addition of new languages to their services, means that they are ready to continue this growth all over the world.
If You Are An Ecommerce Seller, We Can Help You
If you have any concerns about participating in cross-border ecommerce, we at J&P can help. We have the qualifications and knowledge to help you plan ahead, so please do not hesitate to get in touch should you have any further questions about selling on online, or if you need any help with adapting your business. We can get you VAT registered across the EU and can file your returns. Essentially, we sort out your tax so you can deal with selling your products. You can contact us at enquiries@jpaccountant.com, on our social media, or give us a call on 0161 637 1080.
