The planet is becoming increasingly smaller. Because of globalization, goods that were once only available to a small few can now be zipped all over the world at astonishing speeds.
As customers in developed countries embrace online shopping that’s why eCommerce is growing. Many companies implement a currency converter to expand their businesses outside local markets and attract new consumers across borders.
According to research, cross-border e-commerce revenues will hit $627 billion in the near future, up from $284 billion compared to previous years and accounting for 20% of overall e-commerce sales.
An increasing number of shoppers are willing to purchase from foreign retailers, but they still have reservations about pricing, delivery, and transparency. Global brands vying for consumers’ business deliver exclusive goods and seek to create partnerships that solve potential customers’ top concerns, so shop owners need to implement a currency converter to upsell products around the world.
Merchants are constantly looking for ways to create confidence among global audiences as international shopping becomes more commonplace. They can do so by providing complete translations of their pages and with implement a currency converter to enable customers to transact in their local currency, which is known and trusted in the area.
Owners of eCommerce stores want to expand their online businesses. They want to broaden their audience and raise sales in their store. They will have to make several tactical choices to maximize their store for their target customer who lives in various locations.
The most crucial of all of these choices is whether or not to include a feature in your Shopify store that enables customers to buy products in their native currencies. So, how will you perform this? For the solution, Promote Me | Many apps in one Shopify app is a well-known app with features such as Currency Converter. With implement a currency converter, the merchants can convert the currency and increase store sales.
Following these tips will allow you to get the most out of your trip without wasting time calculating local currency rates, by implementing a Currency Converter.
1) Avoid Unhappy Shoppers
When purchasing from a foreign company, customers seek transparency, particularly when purchasing from a new store for the first time. Seeing a sudden price change at checkout or learning that paying in their local currency would incur an additional charge will result in a steep drop-off at checkout.
The Currency Converter feature in the Promote Me | Many apps in one Shopify app allows merchants to not only view product pricing in the local currency but also increase customer loyalty by allowing them to transact and settle in their local currency.
2) Improve Conversion Rates
More customers = happier customers. You would see an increase in customers in global markets converting to your platform by implementing a currency converter if you provide your foreign customers with the localized experience they want.
3) Customize For Different Markets
Buyers from all over the world will make purchases in their currency. However, the product goes beyond that in terms of how localized the experience can be. To follow best practices in each country, you can configure how currencies are displayed.
It is the Promote Me | Many apps in one Shopify app that helps store owners to differentiate themselves from their competitors by incorporating this app into their store.
4) Reduce Cart Abandonment
Shopping cart abandonment is reduced by implementing the currency converter feature. The Currency Converter features of the Promote Me | Many apps in one Shopify app enable store owners to add country-specific currencies to their store, giving consumers around the world the trust that they can transact in their currency. Customers would appreciate your simple pricing strategy, as well as the ease with which they can see the price in the currency of their choice.
5) Avoid Extra Charges, Ensure Customer Loyalty
By implementing a Currency Converter feature of Promote Me | Many apps in one Shopify app, the customers can stop being charged additional fees for currency conversion on their transactions statements. Customers are far less likely to want to buy from your platform again if they see these additional costs.
Conclusion
As a result of the above exclusive currency converter tricks, shop owners must enforce them on their stores. As a consequence, a function like Currency Converter would undoubtedly draw attention to the merchant. Customers do not need to be concerned about using this feature. As a result, merchants will often look for ways to maximize their earnings by implementing a currency converter.