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We sell mainly to the US but would like to have more UK and European customers. Besides prices in US$, our cart now shows Euros and GBP next to it.
Since this feature was implemented at the middle of this month, the conversions from UK and Europe had markedly increased. However, conversions from the US had dropped markedly. So that our overall conversion rate for this week is 25% less than what was at the first 2 weeks of the month.
I am wondering whether having extra currencies are putting off US customers. However, The second part of the month is always weaker than first. Is there something going on in the US that is affecting conversion rates? e.g. time to pay taxes etc.
I have wondered the same thing for years, wish I knew the answer. We run a dual currency site and have considered splitting into two sites but fear triggering the dup penalty.
I'm wondering what the psychology of that might be, and I'm stuck for an answer.
Could there be some demographics to this?
Are the lost customers from backward places where they distrust multinational businesses?
Something dumb like that? Or something else entirely?
Makes no real sense to me. - Larry
We actually check for Canadians and Americans and bring up a web page with either Canadian or American Currency as the default currency.
The database is about 99% accurate. The only thing that messes it up is people using proxy servers and AOL users (AOL servers always register America , regardless of country).
Been using this for years, to solve the multiple currency lost sales problem, with great success.
Does that have a negative effect on Google or Yahoo rankings?
I would think that it may cause a dup penalty if the g-bot ever comes from a Canadian IP for some reason.
Why does dual currency possible affect sales... the only answer we ever have come with xenophobia.
The xenophobia must be subconsious or subtle, because we never lost a phone order, because of our nationality (the accent, ah! gives it away):)
What if I need to return the item?
Wouldn't the return shipping be really expensive?
What if it's a scam? FBI wouldn't cut it if it's in China.
I am sure I can get similar items from another online store that feels more "right"
On the other hand, having GBP shown on your page raises a bit of trust and familiarity from the UK people. That probably explained your rise in UK conversion.
Which one is more is the first one they see when looking at a page?
We have but it is rare.
Because of our accent, we usually get the question "where am I calling?". Most Americans are happy to hear we are in Canada. They will then mention vacationing up hear or say something like "do you know bill from toronto?".
As we have started carrying a lot of items that can be used in the UK and European markets only, I am incline to wait out a few more weeks in order to assess the situation. Since we already have duplicate sites, this would not be a problem for us if the need arise.