Understanding International Selling Opportunities
Cross-border selling is a significant growth opportunity for businesses, with cross-border e-commerce sales reaching $1.2 trillion in 2022, a 344% increase since 2016. While opportunities in international markets are numerous, capitalizing on them is easier said than done.
What is Shopify Markets Pro?
Shopify Markets Pro is a comprehensive solution for cross-border selling that helps brands enter hundreds of markets with just a few clicks. Markets Pro provides all of these capabilities, along with access to liability management features like prepaid duties and fraud protection, automatic localization to enhance the buyer experience, and pre-negotiated international shipping rates, all gathered in a simple, integrated solution.
Benefits of Shopify Markets Pro
Markets Pro is the easiest way for brands to build their global empire. We handle all the complexities of cross-border selling, such as shipping, duty collection, local payment methods, and fraud protection, so businesses can focus on attracting new buyers and growing their operations.
How Shopify Markets Pro Works
Markets Pro manages all of your international transactions, meaning Shopify takes care of all the complex responsibilities associated with them, while you retain full control over the buyer experience in every new market through your Shopify dashboard, via your Markets settings page.
Liability Management through Markets Pro
Markets Pro provides end-to-end liability management by offering Merchant of Record (MoR) features. The financial and legal responsibility for international transactions is handled by Markets Pro, making it easier for businesses to sell across borders without financial hassle.
Enhanced Buyer Experiences that Feel Local
Buyers expect an online shopping experience that feels local. For businesses entering new markets, it’s important to consider the differences in buyer preferences between the domestic market and the foreign market in which they are selling.
Excellent Delivery with Flexible Fulfillment Options
With Shopify Markets Pro, every international order uses expedited delivery labels generated by Markets Pro, which are crucial for properly handling customs duties and providing specialized shipping rates and faster transit times, making the global delivery experience feel local.
Tips for Using Shopify Markets Pro
Before activating Markets Pro in your store, make sure to follow these steps:
- Find the right international opportunities: Analyze the organic traffic in your store and identify the markets where you’re achieving a high sales percentage. Set up markets for these areas so you can convert organic traffic into sales.
- Invest in marketing for key international markets: Once Markets Pro takes on the complexities of the operations and buyer experience for your global business, you need to focus on increasing brand awareness in these markets. Start investing in marketing campaigns in key secondary markets to build a customer base and boost international sales.
- Consider shipping price strategy: Upon activation, Markets Pro will suggest shipping prices for customers in different countries. The recommended prices are based on expected average labeling costs. You can choose to approve this suggestion or set your own shipping prices.
Become a Global Brand Overnight with Shopify Markets Pro
Shopify Markets Pro is the fast track to scaling your business across borders, taking on the responsibility end-to-end and providing a shopping experience that drives conversions globally. This is the one stop for unlocking global growth by simplifying global selling and creating a buyer experience that enhances conversion everywhere. Just ask Shopify merchant WOLFpak, who saw a 36% increase in checkout conversion in the first month after activating Markets Pro, and a 530% increase in international sales during BFCM compared to last year.
Source:
http://www.shopify.com/enterprise/shopify-markets-pro
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