Shopify offers a 10% discount for paying for 1 year in advance, and a 20% discount for paying 2 years in advance.
As you can see, Shopify’s transaction fees are lower with the more expensive plans. Or the transaction fees are are 0% if you use Shopify Payments as your merchant processor, of which the rate lowers on the higher plans as well.
As you read the rest of this website, you can determine for yourself whether your store needs gift cards, professional reports, abandoned cart recovery, advanced report builders, and real-time carrier shipping, which may affect your decision as to which plan to choose.
If your volume of sales gets to a certain point, it makes sense to be on a higher plan for the reduced transaction fees.
For example, if your store did $40,000 in sales per month at 2.9% + 30 cents per transaction on the Basic Plan for $29/mo, you should definitely switch to the Unlimited Plan for $179/month because your transaction rate will be 2.4% + 30 cents per transaction. That extra half percent equates to a $200/month in savings. So even though you’d be paying an additional $150/mo to jump from the Basic Plan to the Unlimited Plan, you’d be saving an additional $50.
Until then, if you don’t need the additional options like gift cards, then start with the Basic Plan and upgrade as needed.
Create your free Shopify trial account and get full access to all the features until you start your paid plan.