Why one store per market is common
Many brands that sell across Europe or beyond run a separate Shopify store for each country: each has its own domain, language, prices, payment methods and VAT setup. Shopify Markets can serve several countries from one store, but separate stores remain popular when catalogues, prices or teams differ by market.
The catch is reporting. Every store has its own Shopify analytics, every market often has its own Google Ads, Meta and TikTok accounts, and none of them add up to the total on their own.
Four things that go wrong when you add it up
- Mixed currencies. A store in Hungary reports in forints, one in Poland in złoty, one in Czechia in koruna. Summing raw totals gives a meaningless number; every amount needs converting to one reporting currency first.
- Which exchange rate. Converting a whole month at today's rate distorts past months. Converting each day at that day's rate, for example the European Central Bank's daily reference rate, keeps history stable.
- Time zones and "today". Each store and ad account has its own time zone setting. If they differ, an order at 23:30 can land on different days in different reports, so daily totals never quite match.
- Double counting from ad platforms. Adding the revenue every platform reports overstates results, because Google, Meta and TikTok can all claim the same order. Store revenue is the only total that counts each sale once.
The one number to track: blended ROAS per market
Blended ROAS, also called MER (marketing efficiency ratio), divides store revenue by total ad spend. Calculated per market and for the whole business, it answers the questions that matter: which country earns the most per unit of ad spend, and whether marketing as a whole pays off.
To compare markets fairly, convert revenue and spend into the same currency with the same daily rates, and count each day in the same time zone. Then compare each market's blended ROAS with your break-even ROAS (1 ÷ gross margin), which can differ by market when prices, shipping or VAT do.
Try the numbers for one market in the free ROAS & MER calculator.
A simple setup that holds up
- Pick one reporting currency for the whole business and stick with it.
- Convert every amount at the daily rate for the day it happened.
- Map every ad account to the market it spends for, so spend and revenue meet per country.
- Use one time zone per market for daily numbers, the same one the store uses.
- Judge budgets on blended ROAS per market; use each platform's own ROAS only to compare campaigns inside that platform.
Done by hand this is a weekly spreadsheet job. Delta Point does it automatically: Shopify orders from every store, spend from Google Ads, Meta and TikTok, Klaviyo email results, converted at daily ECB rates and shown per store, market and day, or all together.