seo local – Correct use of hreflang / canonical tags in regional shopify shops

I'm setting up 2 regional shopify sites. I must consider canonical tags or / and use hreflang to ensure that search engines will send my users to the correct site.

The first store covers the Europe region.
The second (and predetermined) covers the rest of the world.

Both stores are in English (United Kingdom), but their content will be slightly different (that is, they are not duplicated stores as such and have different stock levels, for example).

Currently, Shopify includes the following tags:


What translates into:

EU Store:


Default store:


Should I modify these to include also the hreflang and canonical tags, and in what order should the hreflang tags be placed?

EU Store:




Default store: