Anyone selling to world market in non-USD?

I switched over to selling in pounds sterling (££) about, oh, 18 months back. I noticed no drop in sales, the accounting is way more simple, and the sums coming in every month are a lot more predictable.

T

Sounds like it went well, Thaddeus - nicely done!

Has anyone else tried a similar thing? I'm curious as to the results!

cheers
Sam

Hi Herb,

I've heard the Aussie dollar is currently one of the most stable currencies, or one of the most stabiliy growing currencies in the world at the moment? I don't remember which.

Either way, the only way I benefit from that is buying guitar strings are now 3 bucks cheaper. Not a great balance there

cheers
Sam

Hi James!

I'd love to hear how it goes - would you mind keeping me posted? I'm curious...

cheers
Sam

Yes, I was also contemplating to switch my prices to Canadian dollars because I am in the same situation: I am getting less and less for a long time... however, the consumer prices (from imported food to cars) are not going lower.

I am feeling the drop of the USD big time here in OZ. Once upon a time, I was making 25% on ever sale in the US and its a shock to the system to be above their dollar now.

Don't ask me why, maybe it is because the US is SO big and isolated. Canada, for example, has ties to britain, and mexico obviously has people doing things in the US, etc... but I would think US sales would suffer a bit if you don't price in dollars.

The US is pretty resistant to change. We might be the ONLY country still using imperial standards, and many natives speak only one language. GRANTED, it is required that we study another language, but that is usually just a couple years.

For what it is worth, EVEN if I am right, everyone ELSE deals with it, and some americans WILL understand and most that are likely to buy will certainly understand if you explain that the price went up, etc... And if you put the AUD at the end you are in the right, legal, and it is THEIR fault if they don't understand. One of my pet peeves is foreign sites that specify a TYPE of currency, but don't specify which one. AGAIN, with the US, the call the dollar ther dollar, and use the $ sign EVERYWHERE with NO explanation.

With that program I worked on before, you know the one, I had currency selectable. SOME americans may even see the $ and assume USD! Appending the TYPE, like you are doing here with AUD makes it to where at least people like US, you and I, will understand that you mean AUSTRALIAN dollars.

As for stabily growing? That would be the DOLLAR, if you mean AMOUNT! If you mean popularity, that won't happen UNLESS it is recognized as being stable, or the national currency of a LARGE country, so I expect that you are right in BOTH cases if any.

Steve

Hi,

I think the US$ is, for now, still the currency of the net. I used to have two payment options, 1 in £STG and 1 in US$, but now I only have US$. I just add a small link to a currency converter and there's an example of that here:

.:: A Gift Of Poetry -- Pricing ::.

All the best, Allen

For my USA markets I am keeping USD because they are very
insular.

In order for the worth of the US to stay the same, the currency HAS to drop! That has been true actually FOREVER, but became even MORE true about 97 years ago! WHY? Because there are MORE dollars NOW than there were 2 years ago. A LOT more! If you double the currency, the value is cut in half. That is true of ANY bond or stock. And these are basically bonds. It is called INFLATION!

It isn't quite that easy! FIRST, citizens, and certainly foreigners, aren't told how much it drops. What has happened, and has ALWAYS happened, is that the seller sees profits drop, etc... and they raise prices. Surely you MUST have seen this before! Look at GAS now! Walmart recently warned the US that THEY can't contain prices, and they are going up FAST!

To the best of my knowledge, australian banks deal only in australian dollars. MAYBE I am wrong, but I think so. In any event, they would likely charge more for other accounts. If sam didn't have such an account, he would likely have to CONVERT the currency to keep it. That costs money. And as long as he kept it, it could fall relative to the australian dollar.

NOPE, the dollar is. The dollar has dropped 10% over the euro this year, as I recall, as of a couple days ago!

Steve

I have been selling on my site in USD as I always have but about 3 months ago I increased the prices of most items and services I offer to cover the difference. I went that way instead of selling in AUD to US customers as I thought the psychology of a US buyer paying in AUD may have an negative affect on sales. After increasing the prices I haven't really seen much of a decrease in sales so I am going to leave it as is for now. I am also interested to see how other have tackled this one and if selling in AUD to US customer has has any affect, good or bad, on sales. Good post Sam

I find it interesting that this thread was started by a nonAmerican--what you are all are doing, in terms of IM overseas is what I would LOVE to do.

I am extremely interested in making pounds but there is very little on the subject that I've found. I don't know if the only option is to get a co.uk and market on uk sites (but I can't even find that kind of information?) or what.

I found *one* writing site similar to textbrokers etc. that pays in pounds.

Anyone have any ideas?

yes. I sell to every currency out there. I've been doing it since 2006. very lucrative.

WSJ MarketWatch just reported the IMF made an *official* announcement about the dollar's decline - IMF bombshell: Age of America nears end Brett Arends' ROI - MarketWatch

For anyone solely in the US market, time to look to other currencies and economies.

Hey Sam

How're you doing mate?

I once tried pricing in UK pounds with the USD price automatically calculated and shown beside it. That way I got my UKP price while the USD price fluctuated. There was no effort required on the part of the customer to convert.

Sales bombed.

That was a few years ago but it's not an experiment I plan on repeating any time soon.

Cheers,

Neil

Ok, but if we consider to take payments in AUD or canadian dollars, the same amount that was in american dollars. Let's say I sell a product for 17$ , and I want to sell it for 17$ AUD.

If more people will take payments in AUD , I think will be a trend, and sales won't drop hard.

I don't know if it's right, my opinion only.

Hi Steve,

You're pretty much right about Aussie banks - we have about 4 main banks here, and only one of them allows merchant accounts in non-AUD currencies. I'm not sure why this is, but you're right!



Hi Mike,

That's really interesting about the Euro - I've always assumed (yes, assumed, because while I know a bit about currencies, I'm by no means an expert) that since the EUR is spread over so many countries that it'd all be relatively stable.

But I've seen the drops when just 1 EU country get's into financial trouble.



Hi Neil,

Thanks for the results! I just remembered you talking about that awhile ago. I guess that USD is the way to go for now?



Speaking in general terms, I would American's accept rising prices due to currency fluctuations?

To bring my income back to what it previously was, counter-balancing the exchange rates, I'd have to raise DLGuard prices from $147 to $197, and I don't think the market would take it.

So I guess it's about not compensating for the exchange rate, just doing something to take a bit of the sting off...

cheers
Sam

You can try search more about this in any world market sites.

I'm considering ditching dollars. I don't like the idea of constantly making less and less with each sale, though on the other hand - though its very nice for me that the dollar keeps falling against the £. Assuming my understanding is correct, advertising costs on any paid campaigns are alot less for me

Why use the COMPLICATED, UNRELIABLE, HUGE, MEANINGLESS IP address? Use the ISO code! MY code, for example, is en-us! WOW! You know I probably speak english, and am in the US! BTW the IP address is tied to the ISP! It has NO tie to the person. The ISO code is tied to the computer, so it is often tied to the person. If I were comfortable with another language, I would probably have others listed, and in the appropriate order. Go under tools/languages, to see them all in IE. This has been around since almost the beginning. The first 2 characters are the language, the last two are the country. For GERMAN, for example:

first two
de=german

last two
at=austria
de=germany
li=lichtenstein
lu=luxembourg
ch=switzerland

So de-ch means they speak german, and are in switzerland.

And huge devaluations have been happening for several years now. People have reported some of them HERE.

Steve