Hey Everyone,

Excited to roll out our first "Tips & Tricks" newsletter. Here's this week's spotlight:

Understanding Shopify Plus Upgrades

When brands on Shopify move to Shopify Plus, it typically indicates growth. Here's why:

• Price Point: Shopify Plus can be costly. If a retailer's online sales are under $800,000 USD, they pay $2,000 every month. But if they earn more than that, they'll pay 0.25% of their total online sales. Also, there's usually a year-long commitment.
• Reasons for upgrading: A major benefit for merchants is the reduced credit card transaction fees with Shopify Payments. Wanting fewer transaction fees often means the brand is thriving.
• Features: Upgrading to Plus provides businesses with advanced tools that are tailored towards a growing brand. A standout feature is "expansion stores." It lets brands clone their store for varied markets – think gymshark.com, ca.gymshark.com, uk.gymshark.com. These are all managed from one dashboard. Also, with “checkout extensions”, merchants can refine the checkout process, enabling intricate price discounts, upsells, and other ways to enhance conversion rates and AOV - and this may be where your product or service comes into play.

On average, businesses make the jump to Shopify Plus around the $1-2 million annual revenue mark.

Identifying the Upgrades: In Store Leads, navigate to Advanced Search, apply a “Plan” filter and set it to “Plus”, and then apply the "Last Plan Change At" filter to “Last Week”. Here’s a report that does this. Once the report is fully loaded (usually takes a minute), you'll be able to see how the logic for it was built on the left.

Something to keep in mind: You may find many smaller stores on the list and wonder, "Why would they upgrade to Shopify Plus?" Well, with a Shopify Plus contract, merchants receive 10 Shopify Plus accounts. This lets them mirror their primary store into 9 others – it’s useful for test stores or regional versions. There's also cases where some agencies or operators might purchase a bulk amount of Shopify Plus accounts to pass along to their subsidiaries or clients. To exclude these subsidiary stores, consider using the “Platform Rank Percentile” filter (which compares all stores on the same platform amongst one another and scores them out of 100). As an analogy, if someone’s doing well in school, you might say, “They’re in the top 1% of their class”.

Typically, the primary Shopify Plus accounts rank in the top 3% of the entire Shopify Database. As such, here’s a report of all Shopify Plus stores that upgraded last week and are in the top 3% of all Shopify stores.

Questions or feedback? We're here to help.

Until next week,