A Complete Guide to Shopify Price Increase 2023

In the fast-paced world of eCommerce, where adaptability and resourcefulness are key, Shopify has long been a trusted ally for countless online entrepreneurs and businesses. However, the eCommerce landscape is ever-evolving, and sometimes, even the most reliable partnerships need to adjust course. In January 2023, Shopify announced a significant shift that sent ripples throughout its user community, the first substantial price increase in over a decade.  

In this article, we delve into the reasons behind this decision, the implications for existing and prospective Shopify users, and how to make informed choices in this era of change. Welcome to the unfolding story of the Shopify Price Increase of 2023.

For more details about Shopify, let's read our honest review.

Why are the Shopify Subscription Plans Changing?

The adjustment to Shopify's subscription plans stems from various factors, despite the general reluctance to increase prices. Higher pricing can pose challenges in maintaining customer relationships, a concern shared by most eCommerce proprietors. However, a confluence of events, including the pandemic's impact, shifts in the economic landscape, and workforce reductions in the technology sector, has necessitated significant industry changes.

In late January 2023, Shopify unveiled impending modifications to its pricing structures through a news/blog post. These changes are a response to the substantial transformations the platform has undergone since its inception in 2006, driven by a commitment to furnishing merchants with cutting-edge, dependable, and potent tools at a reasonable cost.

The evolution of today's exceptional platform has entailed increased efforts and resources. Consequently, Shopify finds itself compelled to revise its pricing framework to sustain its capacity for innovation and address the most complex challenges in the eCommerce domain. This adjustment is vital to maintain access to the requisite talent, resources, and technology for continued progress.

How Does Shopify Price Increase 2023?

After more than a decade of stability, Shopify has introduced substantial price adjustments to its subscription plans, marking the first significant change in 12 years. On average, these adjustments amount to approximately 33% increases across the board.

Here's a breakdown of the previous and new monthly prices for Shopify's plans:

These new prices have already taken effect for new sellers, while existing merchants can continue to benefit from the previous rates until April 23, 2023, as long as they are subscribed to annual plans.

In their blog post, Shopify explained that the resources necessary to support their merchants have undergone significant changes over the years. They justified the price increases as a means to maintain the value proposition of the Shopify platform. The company has been investing in platform improvements without corresponding price adjustments, and the price hikes are intended to help recoup those investments and drive continued growth.

Despite this rationale, some sellers remain dissatisfied with the increases. They have expressed disappointment, with comparisons made between the roughly 33% price hike and the 9.1% peak in inflation observed in June 2022.

How to Choose Your New Shopify Plan?

Choosing the right Shopify plan amidst the recent pricing adjustments involves understanding the new pricing structure, evaluating your business needs, and ensuring that your chosen plan provides the necessary functionality for your eCommerce operations.

Automatic update: If you already use Shopify for your eCommerce operations, your plan's pricing should be updated automatically based on the new rates. You don't need to take any immediate action.

Visit the Pricing Page: To understand the new pricing structure in detail, you can visit the pricing page on the official Shopify website. This will give you a breakdown of the updated plans and their costs.

Check your Plan Page: Within the Shopify admin center, you can access your plan page. Here, you can select yearly billing or make any necessary changes to your plan.

Evaluate functionality: While the pricing has changed, it's important to note that most of the core functionality for eCommerce businesses on each plan remains consistent. Features like selling trending products through dropshipping and accessing tools like Shopify SEO and stock management tools are still available. However, Shopify regularly introduces new features to enhance its platform's value.

Consult business leaders: Before making any decisions regarding your Shopify plan, consider consulting with key stakeholders in your business, including your Chief Operating Officer and other business leaders. Ensure that your chosen plan aligns with the functionality you need to run your online store effectively.

Consider App Store Pricing: If you rely on the Shopify app store for various plugins and add-ons, remember that some of these subscriptions may have also changed. Be prepared to review and adjust your budget for these additional tools and services.

Shopify Price Increase 2023: FAQs

Final Words

In conclusion, Shopify's 2023 price increase, the first in over a decade, reflects the evolving eCommerce landscape. While costs have risen, Shopify remains dedicated to empowering businesses with innovative tools and features. Adapting to these changes ensures continued success in the ever-shifting online retail industry.