Edge cases, single-category specialty (lock-only, cam-only) vs full smart-home retailer
The Magento-vs-Shopify cut depends heavily on your category breadth.
Single-category specialty (lock-only, cam-only, hub-only): Shopify Plus is usually enough up to ~$10M GMV. The catalog is small (under 100 SKUs), the ecosystem matrix is simple (often Alexa + Google Home only, sometimes HomeKit), no bundle builder, no pro install at checkout. Shopify Plus apps cover Recharge for subscription, Klaviyo for email, native Shopify Markets for multi-region. App-fee accumulation runs ~$1.2k, $2.5k/mo. Migration to Magento only justifies above $15M GMV or when you add a B2B installer channel.
Full multi-category smart-home retailer (lock + cam + hub + lighting + thermostat + outdoor): Magento wins from $2M GMV onward. The bundle builder alone (with progressive discount tiers and hub-required logic) lifts AOV 2.3-3.1x, that is the ROI that pays the Magento build inside 8 months. Shopify cannot handle ecosystem-matrix layered nav at 1,000+ SKUs without expensive workarounds (Searchspring / Algolia at ~$1k, $3k/mo plus dev), and bundle-builder UX on Shopify Plus is fragile.
Pre-$1M smart-home brand testing PMF: stay on Shopify Basic / Standard. Pre-PMF Magento spend is wasted, the bundle builder math doesn’t apply if you only have 4 SKUs. Migrate to Magento when you cross $1M GMV with a 3+ category catalog and a clear pro-install / subscription attach strategy.
B2B installer channel (selling to electricians, security installers, builders): this almost always pulls you onto Magento regardless of GMV. Adobe Commerce B2B Companies or Open Source + Aheadworks B2B Suite gives you tier pricing, hidden trade catalogs, requisition lists, Net-30 invoicing, and quote workflows. Shopify B2B is improving but still gappy for this use case.