OTTAWA — Shopify Inc. is raising prices for three of its service plans after they remained "largely unchanged" for 12 years.
The Ottawa-based e-commerce technology company says its basic plan will now cost $51 per month, up from $38, while its mid-range Shopify plan will move from $99 per month to $132 and its advanced plan will increase from $389 each month to $517.
Existing merchants that switch their plan from monthly to yearly terms will keep the current, lower monthly prices before the new rates take effect on April 23.
In a blog post announcing the changes, vice-president of product and chief operating officer Kaz Nejatian says the resources needed to offer powerful, innovative and reliable tools have changed dramatically.
He sees the company is increasing its prices so that it can maintain the same value to merchants.
The changes come after Shopify laid off about 1,000 workers last year in the wake of its stock tumbling and customers moving back to pre-pandemic shopping habits.
This report by The Canadian Press was first published Jan. 25, 2024.
Companies in this story: (TSX:SHOP)
The Canadian Press