If you are a Shopify Plus customer or looking to become one then you must know about the latest changes in its pricing for 2024. In this blog, we will continue our discussion about the price changes and how they will affect your business. It will also help you as to what you can do to take advantage of them. Knowing the price changes can further help you to navigate the changes and optimize your e-commerce strategy.
Whether you want to lock in the current price for the next three years, switch to a plan, or explore new features and opportunities. This blog will guide you through the complete process so let's get started!
Shopify Plus Price Changes
Shopify is one of the leading e-commerce platforms for high-volume and fast-growing merchants. According to the e-commerce platform it has announced some adjustments to its fees and options for Shopify Plus subscribers. However, it will be reportedly effective after April 2024.
All the changes are intended to provide more value and flexibility to its customers. This also reflects the inflationary pressures and the product innovations that Shopify has introduced since 2017.
Recent Price and Plan Upgrade of Shopify Plus
Shopify Plus is a premium 0 for high-volume and fast-growing merchants. As we have discussed above Shopify has recently announced its pricing and plans for its customers. According to this, the plan is as follows:
- The monthly platform fee for Shopify Plus jumped from $2,000 to $2,500, unless the customer opted for a 3-year contract where the fee was reduced to $2,300.
- The variable platform fee for online sales increased from 0.25% to 0.40%, and a new fee of 0.18% was also introduced for B2B. On the other hand, the fee for retail sales remained unchanged at 0.25%.
- The third-party transaction fee for customers not using Shopify Payments rose from 0.15% to 0.20%. However, this fee was waived for customers using Shopify Payment in Austria, Belgium, and Sweden.
- Shopify also standardized its policy for third-party transaction fees worldwide, applying the same fee across all regions and currencies.
Notably, all these changes were intended to give more value to its customers. Also, it reflects the inflationary pressures and the product innovations that Shopify has introduced since 2017. The e-commerce platform has also communicated directly with its customers and offered them support and guidance to navigate the changes.
What are the Benefits of Recent Price Changes?
According to the e-commerce platform, its recent price changes were intended to bring some positive response from its customers. So its customers can enjoy the new pricing structure. Here are some of its benefits:
- All the plans now have access to more than 60 reports, including marketing, sales, and profit reports. So you can monitor your store's performance and identify new opportunities for optimization more easily and effectively.
- Its Advanced Plan now enhanced the chat support with front-of-queue routing. So you can get faster and better assistance from Shopify experts whenever you need it.
- No doubt that Shopify is constantly innovating and improving its platform by offering new features and solutions to help you grow your business. This will help you to get all the benefits of the latest technology and best practices in the e-commerce industry.
How The Price Changes Can Affect Your Business?
The recent price changes can affect your business in many different ways. It depends on your plan, features, and sales volume. Here are some of the possible impacts:
- If you are using the Basic, Shopify, or Advanced plan then you will have to pay a higher monthly platform fee, unless you opt for a 3-year contract. This can affect your budget for your ecommerce expenses. Moreover, it can lock you into a long-term commitment.
- When you roll into the Shopify or Advanced plan, then you will have to pay a higher variable platform fee for online sales. It can add a new fee for B2B sales. This means you will have to share more of your revenue with Shopify or find ways to optimize your margins and conversions.
- If you are not using Shopify Payments, then you will have to pay a higher third-party transaction fee, regardless of your plan. This means you will have to pay more for using other payment gateways or switch to Shopify Payments if it is available in your region and currency.
- In case you are using more than 3 markets for regional customization, then you have to upgrade to the Advanced plan or reduce the number of markets you are targeting. This means you will have to either invest more in your global expansion or focus on your core markets.
- Suppose you are engaged with its Starter or Basic plan. In that case, you will not have access to staff accounts or customer personally identifiable information (PII) with apps built into the Shopify admin. Thus you will have to manage your store by yourself or need to upgrade to a higher plan and pay an extra annual fee to access these features.
It must be noted that all these are some of the potential effects of the Shopify price changes on your business.
Get Shopify Plus Development Service with Webiators
Over 8 years of e-commerce experience makes us a priority if you are looking for a Shopify Plus development service. As a Shopify Plus website development company, we offer better strategy, planning, designing, and development for testing and launch. We also work for your business branding, its engagements with more customers that eventually drive more sales. Here are some of the benefits that you can get from us:
- Upgraded store performance
- Professional and Expert Shopify Plus developers
- Highly functional Shopify website
- Easy customization as per your business need
- Advanced security options
- Secure multi-chain selling
- Optimized loading time
- Delivering quality service and support
Hope you find this blog helpful! If you feel the same then don't forget to share your response. Also if you have any query related to Shopify Plus development services then feel free to contact us. We’d appreciate your efforts and will help you out as soon as possible so keep supporting!
Validate your login