Posts tagged ‘currency’

Farewell to the US dollar …

Screenshot of my handmade jewellery shop.Not that the dollar is going anywhere, but I have now closed my US dollar shop. My Australian dollar shop is now my primary online outlet.

You can find my handmade jewellery shop at: www.shop.simonewalsh.com.

If you have bookmarks to the old web address for my Australian dollar shop they will automatically redirect to the new address.

This is a change I’ve been thinking about for some time – and was in part decided upon after I undertook a currency survey a few months ago.

Running two largely identical shops meant a doubling up of work and fees, which wasn’t ideal. Also the nature of my business has changed and I’m making fewer sales to US customers and a lot more to customers in Australia and Europe. This meant that the US dollar shop was less relevant to the majority of my customers.

So now I’ve streamlined to just one shop, which should make my life easier and buying less confusing for local customers in particular!

I’m planning to make some changes to the shop functionality and layout in the near future. As part of that I plan to add some functionality which will give an idea of prices in various other currencies. Checkout will still be in Australian dollars at this stage, but if you aren’t in Australia you will at least have a good idea of what your order will cost you in your local currency.

Currency survey results – and a winner!

Thanks to everyone who participated in my recent survey about currency and online shopping. The results are very helpful and have given me a lot to consider.

I’ve just used random.org to draw the winner of the $65 voucher to spend in my handmade jewellery shop and have emailed the winner to let them know. Congratulations to June!

Below is a quick rundown of some of the key results from the survey.

The local currency of survey participants:

  • 64.5% – Australian dollars
  • 18.4% – US dollars
  • 9.2% – Canadian dollars
  • 3.9% – British pounds sterling
  • 2.6% – New Zealand dollars

The currencies participants are comfortable paying in apart from their local currency:

  • 57.9% – US dollars
  • 28.9% Any currency
  • 23.7% British pounds sterling
  • 17.1% Australian dollars
  • 17.1% only comfortable paying in own currency

When asked if survey participants would be happy to pay in the local currency of the online shop if they were shown the exchanged value in their own currency first, 64.5% said they would be happy to do this and 5.3% said they would not. The remainder answered a variation on ‘it depends’!

And finally 82.9% of survey participants stated that they would be happy to purchase Handmade Jewellery by Simone Walsh in Australian dollars.

As for where this leaves me, well I do have quite a bit to consider before making changes, particularly in the very helpful comments that participants left in relation to this issue.

I do wish there was a very elegant solution to the currency dilemma, but at this point I’m looking at an imperfect one. However, it may be less imperfect than my current set up of operating two shops: one using Australian dollars and the other using US dollars.

Thanks again to everyone who participated – it is very greatly appreciated.

Currency and online shopping: what do you think?

Macro photograph of paper money.
Photograph by kevindooley

One of the dilemmas found in running an online business which sells products all over the world is which currency to use (or how to handle multiple currencies!).

At present I have two pretty much identical primary shops – one with prices in Australian dollars and another with prices in US dollars, with the intention of covering my two biggest markets.

This creates extra work (and extra fees!) for me and I’ve started to wonder whether or not it actually makes that much difference to my lovely customers to be able to shop in these two currencies.

As a result I’m considering moving to a single shop which would show the exchange value in the currency of your choice, but would require payment to be made in Australian dollars.

But before I do this, I’d love to know what you think. How critical is currency when you’re shopping online? Would you be willing to pay in a different currency to your own?

A survey!

Have your say in my currency survey!

The survey will close on 14 October and I’ll share the results here.

Win stuff!

The survey is anonymous, but if you wish to leave your email address at the end of the survey I’ll enter you into a draw to win a $65 voucher (either US$ or AU$) to spend in my shops.

Your email address will be kept private and will only be used in relation to the draw.

I will contact the winner by 17 October 2011. Good luck!

button-go-shopping

Archives

Bits and pieces

Powered by Wordpress