Digital Marketing Marketing

Shopify & Multi-Currency

May 13, 2019


We work with some incredible brands who rely on Shopify to deliver their customers seamless and reliable shopping experience. Don’t get us wrong, we are MASSIVE fans of Shopify as it offers a scalable and efficient solution to retailers looking to drive eCommerce growth. Despite the recent inclusion of multi-currency solution for Shopify Premium customers, this option is still out of reach for some brands. We believe that these growing brands have a right to aspire to global domination too…

First things first, why is it important to sell to customers in their local currency?

We know that many factors can play into a potential customer’s decision to buy a particular product at a particular moment, and it is up to retailers to provide a process with as few friction points as possible.

When customers are confronted with a foreign currency, we are asking them to understand the local value of this product and potentially utilize an off-site currency conversion tool.  This might put them off the purchase entirely.

Understanding that we want to localize our content and approach as much as possible, what are the options for retailers on Shopify?

So given the options currently available for non-Shopify Plus customers, what are the workarounds to sell internationally?

 

Option 1: Separate Stores

The natural solution here is to opt for separate stores (websites) for each of your target customer group’s core currencies. This really isn’t an ideal solution as it creates an additional layer of complexity. Not only are you forced to manage separate content and maintain separate website updates for each store, but it also creates some complexity around reporting as each storefront sits as an individual entity.

 

Option 2: Use a ‘workaround’ extension

One of the greatest benefits of the open-source eCommerce solution is the Shopify marketplace, which brings access to 1,000s of extensions that can extend the core functionality of the Shopify backend.

We’ve been working with the BOLD Multi-currency extension on a number of sites, which creates a workaround that allows customers to see their local currency and transact locally.

Option 3: Take the plunge with Plus

While there is a larger initial investment up front for brands approaching the $1M annual sales mark, it’s worth evaluating this option as a potential solution. This solution offers not only multi-currency but also access to improved reporting and customizations.

Interested in finding out more about how we can help you grow your Shopify business?

Get in touch.