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by Jd
4596 days ago
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Would it be valuable to you to have a single base currency in which prices are set (i.e. with a rate derived from the composite of underlying currencies), which then automatically sets the prices in the other currencies? I ask you partially because we are developing something like that and I'm not super aware of how large e-commerce providers handle this problem. |
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You want to set the price in each marked separately, finding the maximum price for that product in the given market. A product you can sell for say £10 in the UK, might sell equally well for the equivalent of £12 or even £15 in Scandinavia. You could sell the item for the £10 in every country, but why miss out on the profit?
Just using an exchange rate won't take the market (competition) and purchasing power in the different countries. Also you'll end up fighting sells personal who will want to be able to set the sales price, or set them as dictated by the suppliers ( it's technically illegal in many countries, but very few are willing to fight the suppliers, so you need to support it ).
Even in the Euro countries you'll want to be able to price a product differently in each country.