Forum Moderators: buckworks
Imagine for example a revenue of $100 being converted to Euro 120 two years ago to now Euro 73.
It seems there is no end to this yet, and some people believe the dollar/euro would be going towards a ratio 1,5 or even 2.
My question, how do you deal with that? Start billing people in Euro's? Will it effect conversion rates, if you start using the Euro as currency?
Look forward hearing from you.
Considering that just about every webmaster in the world and his dog targets the US market, it's time for a housecleaning of webmasters who target US consumers.
The webmasters who are thinking in terms of globalization will survive for the long term. Those that don't will have a hard time getting past the next few years.
I'm an American living in Europe. I get paid in dollars and have to pay in Euro's and I am losing big time. Everyday that goes by, it's more expensive for me to live here.
Because of this, I am translating pages and diversifying like mad for a global audience, not the US one. Doing business in the US economy is no longer my priority. The American economy has a severe case of lung cancer.
Terminal?
I'm betting the entire farm on it.
Your best bet is to ignore Freedom and listen to JonR28. NOBODY in the US uses Euros. If the dollar continues to slide, at least you'll still get money - even if it's worth less.
So you'll just have to suck it up. And if you've got some cash around and are far more sophisticated than I about investing, maybe you can even hedge your bets by buying some financial instrument that rewards you if the dollar slides against the Euro.
My advice for FrankWeb remains the same: get into the global economy and don't rely on US consumers.
[edited by: lorax at 2:40 am (utc) on Dec. 28, 2004]
[edit reason] Keep it civil [/edit]
MM
euros for europeans
ukpounds for brits
whats the problem? if you want to sell in foreign markets then you have to use the local currency and compete on price with the locals.
sell in the places where you are competitive.
the dollar is now so weak we are buying more in america and selling more in europe, in the past it has been the other way around.
The plus side is my hosting and other things are all in the states, making paying with Euros a blessing as I come out ahead.
Money. It is indeed the root of all evil ;)
Just suprised me to see that some people from the US are so "afraid" of the Euro as a currency online. Is it because of the conversion, or being afraid since it is from Europe, or some other hidden thought?
I do agree that seeing the US as the only place to do business is very narrow minded. The ecommerce is growing around the world. I heard that this year people in Europe did more Christmas shopping online then people in the US. That makes you think.
At the moment the global currency is stil the dollar, but it is loosing ground, and the euro takes over where it can. I guess it is more the question to decide when to change, then the question to change yes or no.
I am sure that if I dropped the Pound and only sold in Euros I would lose customers. The pound is strong at the moment, which means that selling abroad, the USA in particular is out of the question. Although it means that importing is a lot more cost effective than it has been.
(although I NEVER want to see the Euro replace the Pound Sterling.)
im all for the single currency as long its Sterling.
Americans are not necessarily "afraid" to use the Euro, as you said. They - and I include myself in this - don't know what it means. We buy everything in dollars. Always have. So we don't even know what it means to buy something in Euros.
Can we use the same credit card? Do we need to open up a whole new bank account that uses Euros? etc.
These questions are really retorical. The point I'm simply making is your decision to hold off "for now" on switching to Euros for American buyers is going to have to be your answer for many many years to come since it's a cultural shift so profound that you're not going to get any business - and I mean ANY - if you try to convince Americans to use Euros.
If you are relying on US consumers than you should only use the dollar.
The Euro is doing great now but the European theatre just isn't generating the type of spending seen within the dollar's market.
Trying to antipate this massive global change isn't going to pay your bills.
Still I can understand that some people have their doubts to using another currency then they are used to, and indeed I can understand they would think like "how does it work if I pay in euro's and my account is in dollars".
That stuff will scare some and maybe all of them. That's the last thing I want to do of course. So I'll just keep it to the green bills, and leave euro's to the side for now.
Now I just have to make sure, I get my bank so crazy to accept my mortgage in dollars :)
Just suprised me to see that some people from the US are so "afraid" of the Euro as a currency online. Is it because of the conversion, or being afraid since it is from Europe, or some other hidden thought?
Now I don't mean to offend my American brothers... as I stated, I am an american. In my case alone (Allthought I think it is most likely true for many... many... many Americans) it is two factors.
1.) Laziness.... I'm ignorant. Am I gonna get a calculator out and check how much I'm paying in dollars? Find my banks exchange rate, etc.? Heck no... I'm lazy. Even if it is simple math like 1.5 times 1... I am too lazy to do it. I'd rather pay more not to use my brain for two seconds. Again, don't mean to offend anyone, but I think this is the main reason.
2.) Shipping.... Is it gonna be more expensive? Is it gonna take longer?
Also I'd just like to say it is not because we are afraid it's from Europe. Your chocolates have a very good reputation over here, and I'm sure your product is great. Infact... I drive a Volkswagen.
The one thing that you should include is a conversion calculator. If you can add that to your site I don't see any reason why you would have a problem selling to people in the US.
I'm glad you brought this up though, my wife has been trying to buy a case online but nobody will ship to the US, I never thought it might be due to the conversion. (To make you feel better, she said she would pay double if that's what it took to get her item and it was priced in Euros)
More advanced, you could detect the IP Address' region to take a guess at where they are. If they are in the USA start them on the $, if they are in the EU start them on the Euro.
I have some good examples bookmarked I think I can dig them up if you PM me.
This is Off Topic, but do European keyboards have a Euro key these days? My keybored is Shift+num4 to make a $.... just curious.
If your business is strong and you have a good product I don't think that switching will cause you any problems. I am in the US and have paid in Pounds for many items that I purchased online.
Sorry, but this claim is a stretch. Yes, some Americans might buy your products if they are priced in Euros and they are good. 99% won't. Unless you can niche market effectively to the 1%, which you almost surely can't, you should go with the 99% of the market every time.
