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Understanding the Shopify Plus Price Changes for 2024: What Merchants Need to Know
As a trusted Shopify development company, we strive to keep our clients informed about significant updates within the Shopify ecosystem. Today, we’re discussing the recent announcement from Shopify regarding changes to their plans and pricing for 2024.
What’s Changing?
Shopify has decided to implement alterations to its pricing structure, along with introducing new term length options. These changes aim to provide merchants with enhanced value from the platform while fostering continued partnerships.
Direct communication with merchants
Recognising the substantial impact these changes may have on merchants’ businesses, Shopify will be reaching out directly to Shopify Plus merchants. Starting on February 8, merchants will receive detailed emails, and dedicated merchant success managers and support teams will be available for appointments and calls to address any concerns.
Commitment to Innovation
Shopify’s mission revolves around constructing the leading commerce operating system for millions of brands, developers, and shoppers worldwide. Over the past two years, Shopify has rolled out numerous product features and updates, including innovations like B2B on Shopify and AI commerce tools. Despite facing inflationary pressures, Shopify has maintained consistent pricing since 2017.
A Special Offer for Valued Customers
As a gesture of appreciation for loyalty, Shopify is extending a one-time opportunity to its valued customers: the chance to maintain 2023 standard rates by opting into a new 3-year contract before April 24, 2024. This offer enables customers to lock in favourable pricing for the next three years.
Overview of Pricing Changes
Effective immediately, Shopify Plus platform fees will increase to $2,500 USD per month for those remaining on their current plan. Additionally, changes will be made to variable platform fees based on online, retail, and B2B sales. Notably, the variable platform fee for online sales will increase to 0.40%, while a new 0.18% fee for B2B orders will be introduced. Retail fees, however, will remain unchanged.
Here’s a breakdown of the fees:
| Fees | 2023 Standard Rates on a 3-Year Term | New Rates on a Monthly Term |
| Monthly Platform | $2,000 USD/month | $2,500 USD/month |
| Third-Party Transactions (if not using Shopify Payments) | 0.15% | 0.20% |
| Variable Platform – Online | 0.25% | 0.40% |
| Variable Platform – Retail | 0.25% | 0.25% |
| Variable Platform – B2B | N/A | 0.18% |
Furthermore, third-party fees will be waived for merchants using Shopify Payments in Austria, Belgium, and Sweden.
Global Standardisation of Third-Party Transaction Fees
Effective March 13, 2024, Shopify will standardise its policy for third-party transaction fees globally. From that date onwards, third-party transaction fees will be waived on all third-party transaction volume when merchants opt for Shopify Payments for their card processing. Seize the opportunity.
Given the significance of these pricing updates, it’s crucial not to overlook the one-time offer to lock in low platform fees. We encourage merchants to discuss this opportunity with their organisation owners, as only they have the authority to opt into these new terms. Organisation owners will receive an email outlining the next steps.
Get In Touch Today – Liquify
Get in touch today to see how we can help grow your shopify store! While changes to pricing structures can initially seem daunting, they are often necessary to accommodate evolving business landscapes and ensure the sustainability of the platform. Shopify remains committed to supporting its merchants and facilitating their growth and success in the ever-changing world of e-commerce.
As your trusted Shopify development company, we’re here to assist you throughout this transition and help you maximise the value derived from the Shopify platform. If you have any questions or require further assistance, please don’t hesitate to reach out to us.
Stay tuned for more updates, and let’s navigate these changes together.
