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New markets rarely fail on the idea. They fail on the details: a translation nobody reviewed, prices that read wrong in the local currency, VAT set up incorrectly, a checkout missing the payment method people in that country actually trust. I open markets one at a time, on a single store wherever that works.
What I set up, per market
Market structure — subfolder, subdomain or country domain, chosen deliberately
Local currency through Shopify Payments, with prices reviewed so they read right in it
Translate & Adapt with translated URLs and SEO fields, plus human review of what customers actually read
International SEO: hreflang generated and checked, not assumed
VAT per country, OSS and IOSS, duties and import taxes with HS codes and country of origin
Local carriers and the payment methods that market expects at checkout
Where this comes from
Most of the stores I work on already sell across borders. Continental Lab runs in English, French and Portuguese — euros across Europe, US dollars for North America, Australia and Japan. Aniball sells across Europe from its own European store.
Straight talk
I set the store up so the numbers it produces are correct; the filing itself stays with your accountant. And I start with which market is worth opening next, based on your own order and traffic data — not with switching on every country Shopify offers.