A quick currency question?

by ephame
7 replies
As always resorting to the trusted men and women of the Warrior forum for some much needed wisdom.

I have a question to ask,

Our situation is this:

We are to sell our services globally but we are based in Australia and generally prefer to be paid in our own currency. Unfortunately for most except Europeans the currency is not in your favor.

What we are asking is, do we mark our prices in Aud $ and have Americans and some others who are weaker in currency see a different cost on their statements or do we market in Us $ and have to mark it up a bit to begin with to counter for the loss in conversion.

What would you do?

It's not to late to modify our prices to cater for the conversion differences but really i don't think it would be too hard if the site is obviously in Aud $ to expect to have to pay a tiny bit more if your currency is below ours.

It seems a strange question seeing as I've always known that most sites are Us $ and have normally had to allow to pay more, so will this be acceptable for what would now be the majority.

Thanks Brad @ephame
#currency #question #quick
  • Profile picture of the author DianaHeuser
    Hi Brad
    Whether we like it or not, the US$ is fairly standard across the planet. I used to sell scrapbook kits at an Australian store and people just do not like prices in AUD. They know what the exchange rate is for USD for their currency so they don't have to think or go online to a currency conversion site to work it out.

    I personally think you are better off upping your USD price to cover the conversion costs and reflect your prices as USD. Just my humble opinion.

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  • Profile picture of the author Alexa Smith
    Originally Posted by ephame View Post

    What would you do?
    I would quote prices in US$ only, regardless of my location and my potential customers' locations. US$ is internationally accepted as the "online currency".

    Even on my "UK-only" niche site, targeted at UK-only customers, on a .co.uk domain and hosted in the UK, all prices of all products are given in US$. It's what people expect. Anything different can only be a negative, overall, I think.

    I don't think there's much to think about here, Brad - I really don't.
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  • Profile picture of the author Newbieee
    yes go for USD no matter what, and do what u need to do but show it as USD.

    Pain is a perception, so is defeat & happiness!
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  • Profile picture of the author tagged
    I think you should compete and adapt to what the world is up to right now.
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    • Profile picture of the author RayWhittaker
      The US Dollar is the de-facto currency of the Internet. The US seems to have the biggest online market, so they really drive this.

      I wouldn't necessarily agree with Alexa though when it comes to selling exlusively in your own country. I've seen plenty of on-line commerce sites selling in GBP to a purely UK market.

      That's mainly for physical products though. Digital products are almost always sold in USD; but then digital product almost always have a global appeal.
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