Should I price products in USD or GBP?

by CodeBotics

Posted: 12 years ago 24 replies

INTERNET MARKETING

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

Hamida Harland 12 years ago

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).
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Andy Fletcher 12 years ago

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.
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Izerman 12 years ago

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
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helisell 12 years ago

My customers are around 50% UK and 50% USA

I've priced in $$$ since the day I started and all my
customers seem fine with $$$.
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Neil Morgan 12 years ago

I'm British, so it would make sense to sell in GBP...

Yeah, but only to you

Always think like your customer!
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- Will Edwards 12 years ago
  
  Originally Posted by Neil Morgan
  
  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
  
  Thanks
  
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Alexa Smith Banned 12 years ago

Originally Posted by CodeBotics

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.
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CodeBotics 12 years ago

Thanks everyone, USD it is!
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SafeSEOService 12 years ago

USD.. The most preferred currency..
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JeremiahSay 12 years ago

GBP if you're solely targeting UK audience.

USD if you're targeting any where else in the world.
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PassivelyRich 12 years ago

I agree with the rest, USD so that you don't restrict the target market to us Brits.
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betterwtveter 12 years ago

USD is more universal for world wide transactions. I personally prefer it myself.
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keggs 12 years ago

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.
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Neil Morgan 12 years ago

I once switched from USD to UKP with a conversion button alongside and sales went into free fall.

Lesson learned.
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retsced 12 years ago

USD is the currency of the internet.
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paul nicholls 12 years ago

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
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CrisisCore08 12 years ago

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.
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steve georgiou 12 years ago

I prefer USD, but i spend alot of time in the USA anyway so i am used to the dollar and the conversion rate.
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Shubh Ashish 12 years ago

Price your product in USD without any doubt.Thats the standard currency used here.
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tomtommarketing 12 years ago

I'm CDN and always price in USD. It's the universal IM currency
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PeckhamPirate 12 years ago

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$.
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techbul 12 years ago

I always use $, but if you want to sell only in the UK, then there is no reason you should use US$.
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Daniel Soulsby 12 years ago

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.
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kayfrank 12 years ago

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.
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