Should I price products in USD or GBP?

24 replies
I'm British, so it would make sense to sell in GBP. However, USD is, as far as I'm aware, treated as a kind of global currency. Is it best to price in USD then let PayPal convert back to GBP for me?
#gbp #price #products #usd
  • Profile picture of the author Hamida Harland
    I'd always price with USD. 99% of the products I've come across (even those from UK marketers) are priced in dollars.

    It's what people expect, and even though GBP is my own currency I prefer paying for IM stuff in USD (just what I'm used to).
    Signature
    {{ DiscussionBoard.errors[7215496].message }}
  • Profile picture of the author Andy Fletcher
    Make the decision based on who you are selling to, not where you are.

    If you sell to mostly UK people then use GBP. If you are selling multinationally though USD is pretty much the standard.
    {{ DiscussionBoard.errors[7215506].message }}
  • Profile picture of the author Izerman
    I personally use USD for all my products and services.
    But then again, I mostly "cater" to american companys.

    If you are not only targeting the UK market, I suggest you use USD.

    /Izerman
    {{ DiscussionBoard.errors[7215656].message }}
  • Profile picture of the author helisell
    My customers are around 50% UK and 50% USA

    I've priced in $$$ since the day I started and all my
    customers seem fine with $$$.
    Signature

    Making Calls To Sell Something? What are you actually saying?
    Is there any room for improvement? Want to find out?

    {{ DiscussionBoard.errors[7215776].message }}
  • Profile picture of the author Neil Morgan
    I'm British, so it would make sense to sell in GBP...
    Yeah, but only to you

    Always think like your customer!
    Signature

    Easy email marketing automation without moving your lists.

    {{ DiscussionBoard.errors[7215827].message }}
    • Profile picture of the author Will Edwards
      Originally Posted by Neil Morgan View Post

      Yeah, but only to you

      Always think like your customer!
      ^^^ Neil is spot-on!

      That's why companies spend so much on market research i.e. because what they think and what we think that they think are often not the same thing.

      Will
      {{ DiscussionBoard.errors[7219714].message }}
  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by CodeBotics View Post

    Is it best to price in USD then let PayPal convert back to GBP for me?
    Probably ... unless your customers are almost all in the UK.

    British customers are used to online prices being in $US, so you should probably "err that way round" if it's mixed traffic/visitors.
    {{ DiscussionBoard.errors[7215830].message }}
  • Profile picture of the author CodeBotics
    Thanks everyone, USD it is!
    {{ DiscussionBoard.errors[7215861].message }}
  • {{ DiscussionBoard.errors[7215968].message }}
  • Profile picture of the author JeremiahSay
    GBP if you're solely targeting UK audience.

    USD if you're targeting any where else in the world.
    {{ DiscussionBoard.errors[7216201].message }}
  • Profile picture of the author PassivelyRich
    I agree with the rest, USD so that you don't restrict the target market to us Brits.
    {{ DiscussionBoard.errors[7216296].message }}
  • Profile picture of the author betterwtveter
    USD is more universal for world wide transactions. I personally prefer it myself.
    {{ DiscussionBoard.errors[7216316].message }}
  • Profile picture of the author keggs
    All my products are in GBP but the market at the moment is the UK and Europe. I suppose once the rest of the world becomes the market it may be sensible to price in dollars if the dollar is the normal pricing currency although I don't see why it should be.
    {{ DiscussionBoard.errors[7216332].message }}
  • Profile picture of the author Neil Morgan
    I once switched from USD to UKP with a conversion button alongside and sales went into free fall.

    Lesson learned.
    Signature

    Easy email marketing automation without moving your lists.

    {{ DiscussionBoard.errors[7216496].message }}
  • Profile picture of the author retsced
    USD is the currency of the internet.
    Signature
    If your child is afraid of a virus that literally does not
    affect them, you have failed as a parent
    {{ DiscussionBoard.errors[7216768].message }}
  • Profile picture of the author paul nicholls
    When i first came online many moons ago it took me a while to get used to buying stuff in US but it really is the best way to go

    Of course if your in a niche or most of your subscribers are from the UK then you may have to think otherwise but if you plan to do anything in the IM niche then it`s US all the way :-)

    Paul
    {{ DiscussionBoard.errors[7216792].message }}
  • Profile picture of the author CrisisCore08
    I use USD,I like more USD.
    If you look worldwide,most people knows how much the dollar is worth in,GBP is not as important as the USD,I do know generly his value but I know the USD better.
    Signature
    Personal Blog
    {{ DiscussionBoard.errors[7216849].message }}
  • Profile picture of the author steve georgiou
    I prefer USD, but i spend alot of time in the USA anyway so i am used to the dollar and the conversion rate.
    {{ DiscussionBoard.errors[7216935].message }}
  • Profile picture of the author Shubh Ashish
    Price your product in USD without any doubt.Thats the standard currency used here.
    Signature
    Sell Dreams, Not Products
    - Steve Jobs
    {{ DiscussionBoard.errors[7216940].message }}
  • Profile picture of the author tomtommarketing
    I'm CDN and always price in USD. It's the universal IM currency
    {{ DiscussionBoard.errors[7216982].message }}
  • Profile picture of the author PeckhamPirate
    If you're only selling in the UK stick with sterling.
    But if you want people to buy from you in other countries, not just the States by the way, I'd definitely say price in US$.

    I've been selling worldwide for a few of years now and I can tell you that the vast majority of my customers are more comfortable paying in $ than any other currency.

    You could also try a currency conversion tool on your site. They're often bolted on to premium payment systems, but they can be clunky.

    To stay safe, I always use US$.
    Signature
    Stylish, affordable web design, translation and copywriting.
    I'm available for hire...

    EnglishEffect.com
    {{ DiscussionBoard.errors[7217016].message }}
  • Profile picture of the author techbul
    I always use $, but if you want to sell only in the UK, then there is no reason you should use US$.
    {{ DiscussionBoard.errors[7219264].message }}
  • Profile picture of the author Daniel Soulsby
    I have found that countries that use $ themselves expect the price in $ or USD but almost everywhere else is fine with GBP because people are used to seeing a different currency to what they use online and they don't care if it's USD or GBP because they will be converting it either way.

    I haven't touched the IM niche properly yet though and I'm guessing that's just got to be USD unless it's specifically aimed at a certain country.
    Signature

    Cheers
    The Affiliate Playboy

    www.Making-Money.biz

    {{ DiscussionBoard.errors[7219706].message }}
  • Profile picture of the author kayfrank
    I am also in the UK but my customers are worldwide and therefore USD is the way to go. All countries use that currency. Most payments are made by paypal anyway and the conversion is done automatically.
    {{ DiscussionBoard.errors[7219786].message }}

Trending Topics