With today's announcement of a new global alliance with Shopify's e-commerce platform, TikTok further invests…
“Shopify Plan” is the middle tier of the platform’s three significant plans. Of course, you get everything that comes with a basic plan to manage your store; however, the increased investment offers professional reporting tools to dig deep into the data and produce additional reports such as sales, retail sales & customer reports.
For a growing business, these tools are vital to staying ahead of the competition.
The Shopify plan is best suited for an ever-increasing medium-sized business.
It includes all elements of the Basic Shopify plan plus features such as gift cards and professional reports.
Within this tier, you can create up to 5 staff accounts.
It is the best plan for people who want a great way to keep growing their website and offline presence.
Although the price gap between Basic and Shopify is quite large, if your business wants room to scale, it’s definitely worth the extra cost.
In today’s digital world, the Shopify plan comes with everything you need to sell.
The rate for credit card transactions you have to pay is 0.3 percent lower than on Basic, and you get professional reports.
Analytics makes it easier to see where your revenue needs to increase.
Through this package, you can access things like gift cards too. It also makes connecting with your customers much more comfortable and keeps them coming back for more.
Shopify plan helps you create an unlimited amount of products and take advantage of everything you would get with the Basic Shopify Plan.
You also gain access to Shopify POS, gift cards, professional reports, and retrieval of an abandoned cart.
This abandoned cart recovery tool is practically one of the main reasons people choose the Professional Plan.
It is one of the best and top-notch ways to collect contact information from people who don’t complete their orders.
This plan includes more granular reporting data, and features such as gift cards and cart recovery abandoned.
A small business may not miss those features, but the more significant you grow, the more revenue you will add.
If your website currently returns about $5000 in the monthly payment, then this is your plan.
It shows you were somewhat interested in the person to contact them later to prompt a purchase.
The most exciting part is that the abandoned cart tool sends out automated emails based on your preferences.
For instance, if a user leaves a cart in your shop, you can choose to send them a promo or a message of reminders within six hours.
This feature is a massive deal since 67.89 percent of shoppers abandon their shopping carts on average, but these abandoners spend 55 percent more when noted.
You must reach these customers and figure out why they leave early. Shopify is Shopify Basic’s next plan; this one is probably Shopify’s most popular plan, so it’s named Shopify too.
To sign up or subscribe to this plan, you must pay $79. Once again, Shopify has something Shopify Basic has to offer, but here are the key additions:
- Gift cards
- Advanced reporting functionality
- Extensive POS features
- Lower transaction and credit card fees
Let’s jump into each of these features.
Gift cards. A gift card is a digital or physical card that you sell or issue to your customers as a reward for free.
Then your customers can use this card as payment from your online stores for future orders.
If you’re selling gift cards, your clients might buy them and give them as a gift to someone else.
If your customers check out with a gift card, they’ll only need to enter the gift card codes they’ve received from you to redeem the value of their order.
Gift cards are famous among stores with relatively high brand awareness, those with the budget offer gift cards as a loyalty incentive or those people want to purchase gift cards from.
While this functionality is not essential for brand-new stores, it is undoubtedly a useful feature for established businesses.
The functionality of the gift card is probably more relevant for stores with important brand recognition. People don’t usually buy gift cards for new stores.
Advanced Reports; Detailed reporting functionality is sorely missed in Basic Shopify and is one of the most important reasons to opt the averages more advanced plan.
Probably the most significant limitation with Basic Shopify is in-depth reports and maybe one of the biggest reasons you might want to jump to Shopify.
Shopify gives you access to a much broader array of detailed summaries of-
- sales reports
- customer reports
- In the sales reports, you will find detailed overviews of:
- Sales over time
- Sales by product
- Sales by Product Variant SKU
- Sales by Vendor
- Sales by point of sale
- Sales by personnel
- Sales by personnel (daily)
- Discount Sales
- Referral Sales
- Sales by billing country
- Sales per channel
- Sales by customer name
- The average value of orders over time
- And in the customer reports, you’ll find information about:
- Customers over time
- customers VS sales to recurring customers
- Customers by country
- Customers who have already bought
- Sporadic customers
Besides these reports, you should also add Google Analytics to your website; you’ll get many extra insights from it.
Point of Sales functionality.
Shopify Pricing Plans – Point of Sales
You can sell with all Shopify plans using the Shopify POS app, but if you want to access the full range of Shopify POS features, you’ll need to sign up for the Shopify or higher plan.
The Shopify plan enables you to –
- Sell on five physical locations.
- Assign turnarounds
- Use the complete set of hardware POS (receipt printers, barcode scanners, etc.)
- Create personnel PINs (an unlimited number) for your employees to log in to Shop POS
- Use POS-apps from third parties.
- The biggest and most crucial Differentiation between the Shopify plan and its cheaper counterparts is that it allows you to assign shifts, sell in one more location, and use POS hardware to your employees.
Lower transactions and credit card fees:
The Shopify plan provides transaction fees that are lower than the Lite and Basic methods.
That eventually means that if you have a large number of transactions, money saved from those lower fees will compensate for the plan’s higher price.
Once again, you don’t have to pay transaction fees if you use Shopify Payments.
Credit card fees for online sales will then be 2.6 percent + 30 cents and 2.5 percent + 0 cents for offline transactions (this is US rates).
If you chose to use a third party payment gateway, you get charged a 1.0 percent transaction fee plus whatever the payment gateway charges.
Shopify’s plan is the most popular price plan in Shopify. It comes with 24/7 support, a fraud risk tool from Shopify, discount codes, and your free SSL certificate.
The difference is the recovery of abandoned shopping carts. You can also capture the contact details of people who showed interest in your products but ultimately didn’t buy them and then follow them up with an email later, including a discount code or a reminder to try to close the sale.
One or two recovered sales made in that way will cover the price difference between the Basic Shopify and Shopify, depending on your product prices.
That might sound like a big jump from the Basic Shopify plan, but retrieving those shopping carts is exceptionally useful and valuable.
Results from over 40 studies over the years between 2012 and 2019 show that, according to Shopify and the Baymard Institute, 69.89 percent of online transactions end with an abandoned shopping cart.
Recovery of shopping carts is an ideal way to take out and convert potential customers.
As a guide, if your store brings more than $5,000 a month, it is worth considering that plan.
As you are aware, Shopify is an eCommerce platform built around the globe for online power stores.
Shopify offers merchants a suite of services to run their online business all in one place — payments, marketing, shipping, customer engagement, etc.
Who’s it for? its good for you if you’re starting your eCommerce business, growing brand, or a medium-sized store.
Advantages of Shopify Plan over Shopify Basic
Also, the Shopify plan gives some upgrades to your online store. You’ll have the opportunity to set up to five staff logins, for example, which means that more staff can edit, analyze, and update your store.
Plus, you will be able to dive deeper with Shopify’s professional report building tools when exploring your sales and customer traffic.
What’s more? Processing rates for credit cards on the Shopify plan get lowered.
You are now going to pay 1.9 percent of each transaction, plus 30 percent.
Credit card rates in-person drop to 1.6 percent. Compared with the Shopify Basics plan, that might not sound like a big difference, but the deducted fees will add up to potentially big gains.
Shipping discounts with UPS, DHL, or USPS Express gradually improve from up to 64% with Shopify Basic plan to up to 72% with the Shopify plan.
Here are five features of the Shopify plan that makes it a top choice for online stores of every size.
1. Built to scale from the start
For none works, the one-size-fits-all approach, especially for eCommerce stores.
Whether you’re just starting your eCommerce store or growing your business, that’s why Shopify is developing alongside you.
The platform built to enable you to upgrade your plan as your sales and store widen. There are three plans — Shopify basic, Shopify, and Advanced Shopify basic.
While all three programs provide 24/7 support and unlimited products, more employee accounts can be created by merchants on higher plans, gift cards, advanced report builders, custom shipping rates, and lower transaction fees.
2. Inventory management
Shopify lets you add an unlimited number of products despite the plan on which you are.
It has tags and collections, two features that simplify how your inventory is categorized.
Shopify’s product pages are neat and sleek, with every field required to ensure that your product page looks credible and reads.
3. Easy store design
It doesn’t take more than a day to establish your Shopify store. That is because designing your storefront is so easy.
With its builder drag and drop, merchants do not need to hire designers to set up the store the way they wish.
Shopify has a collection of themes that merchants can choose from-free and paid.
Once a piece is selected, merchants can immediately move around different store design sections, customize the color and copy, and add their brand touch to make their website reflect their mark.
4. 24/7 support
Shopify’s support team is always available round the clock to help you fix your problems at any time of the day.
Their support is available round-the-clock through chat, email, or a call.
That means merchants facing any issues with their store can get immediate help and avoid losing revenue due to their problem.
5. Multiple sales channels
Besides your website, you can set up additional sales channels to sell your products.
Amazon allows you to set up Facebook, Amazon, Pinterest, Messenger, Etsy, eBay, and Instagram shop options.
When they mention their brand on a blog, they can embed a buy now button to connect with their checkout.
- You stand to get everything from the basic plan, including an unlimited number of products listed.
- You can resort to ‘gift cards.’
- With ‘professional reports,’ you get more organized in your business.
- ‘Recovery of the abandoned cart’ so you don’t lose out on potential business unnecessarily. It eventually tends to be the main selling point for the ‘Shopify plan’ since this feature allows you to access critical high-intensity information.
- You can print free shipping labels.
Since you are now working with Shopify high-volume business model, You are eligible for a shipping discount of up to 72 percent (compared to the last 64 percent) when you work with Shopify partners such as:
- DHL Express
Also, the ‘Shopify’ plan includes an analysis of fraud. As regards processing fees for transactions:
- If you buy the item by credit card online, you will pay: 2.6% of transaction + 30 cents (0.3% less than ‘Basic’).
- If you’ve got a brick & mortar store, then you’re going to pay a flat: 2.5 percent (0.2 percent less than ‘Basic’) of the transaction.
- If you are using another payment provider instead of ‘Shop Payments,’ you’ll pay 1% of the transaction (1% lower than ‘Basic’ or, in other words, a 50% lower)!
Point Of Sale (POS):
The ‘Shopify’ plan allows you to:
- Get hardware support.
- Use the Shopify POS application.
- Register shifts.
- Make use of third-party POS applications.
- Have unlimited Shopify POS staff PINs.
Which merchant can benefit from Shopify’s plan?
Sellers who have an avenue to large business due to unlimited products + unlimited storage, while growing their business.
Sellers that earn enough to justify spending $79 a month and those with a sufficiently large customer base using payment providers other than ‘Shop Payments’ as the fee for this plan drops by 50% (i.e., from 2% to 1%)!
- Sellers wishing to maximize potential profits and not wishing to lose out on potential sales.
The Benefits Of Shopify Plan
The Shopify plan also includes the following features, in addition to everything included with the Basic plan:
- Abandoned cart recovery
- Five staff account options
- Support for gift cards
- Professional reports
- Lower credit card rate
- Lower transaction fees
- Better Shopify Shipping discount
And on of other bells and whistles.
In addition to the few benefits above, many people opt for this plan. It makes it easier for people who do not complete their orders to obtain contact information through the abandoned cart recovery process.
The abandoned cart recovery provides a way for people who may have wanted to use the buy button but have forgotten about the purchase or are still in the air to target it.
A meta-analysis of 24 studies reveals that they will not complete their purchase on average of 67.89 percent or two out of three of your prospects that add products to their cart.
Let’s break that down to show how your bottom line impacts. It will show you how investing in the Basic plan may be the best move for your business and convert “maybe” shoppers into actual purchasers.
Understanding how your business benefits from abandoned cart recovery
Here’s a factual issue to consider when appreciating the benefits of abandoned cart recovery:
Assuming you have a total of 100 customers a month. Each order averages $50 and is equivalent to $5,000 in sales per month.
Consider that you have an additional 200 customers for customers who aren’t sold entirely on buying your products yet.
They started the procurement process and added items to their virtual cart. There the transaction stopped.
Considering the number of potential clients, When you think the number of potential clients listed above with an average of $50 per customer order, that’s $10,000 extra that you don’t have in your pocket every month.
So, if you look at the additional $50 you need to spend to bump your plan up from Basic to the mid-level program, it doesn’t seem that expensive to use the monthly price of Shopify payments.
And, to pike their interest, you might want to contact them with discount codes or extra savings.
What benefits do businesses benefit from The Shopify Plan?
This plan is ideal for businesses operating for a while but has not yet reached large company status. This plan is best for those companies that plan to scale rapidly and do so effectively.
To determine if this particular plan is worth the monthly cost and offer you the inclusions you need for your business, you should consider the amount of revenue your business brings each month.
For instance, if your store makes revenue over $5,000 per month, you’ll want to sign up for this offer.
This specific plan provides lower transaction fees if you have an external payment gateway and a larger sales volume. You can also ease up sales with the benefit of an abandoned cart recovery tool.
You’re still not going to get the advanced report builder, but you’re going to get gift card support, Professional reporting, and retrieval of a coveted abandoned cart.
You will pay $71.10 a month for 10 percent savings if you commit to the annual plan. If you commit to the two-year program, you pay $63.20 a month for savings of 20 percent.
It seems more like a big jump from the Basic Shopify plan, but it is incredibly useful and valuable to recover those shopping carts.
The results of over 40 studies between 2012 and 2019 show that 69.89 percent of online transactions always end up with an abandoned shopping cart, according to Shopify and Baymard Institute.
Recovery of shopping carts is an ideal way to take out and convert potential customers. As a guide, if your store brings more than $5,000 a month, it is worth considering that plan.
Shopify has something to offer to everyone, no matter how deep or shallow your pockets are.
But Eventually, it is up to you to purchase, to choose which POS system, and whether or not to upgrade your game using paid templates and applications that take your store to the next level.
I genuinely believe that if you decide on where your business is today and how you expect it to grow realistically tomorrow, you will end up spending the amount you and your business can afford.
As I always say and believe in life and business-start small, and walk carefully.
At last, when your footing is firm, Confident your spending capabilities and business will follow suit.
Also, Shopify has a wide range of tools that enable you to run your store smoothly, and their app store has more than 1,400 apps that allow you to add any features you need to your store.
Shopify is not the right option if you’re looking for an extremely low-cost ecommerce builder.
Still, if you’re very serious about selling online, Shopify is an excellent choice to start.