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Topic: Buying on-line in a different currency
Message: Posted by: Scott Burton (Jan 16, 2015 03:04PM)
We buy stuff on-line all the time. We're in Canada but we buy stuff from other countries (especially USA) all the time. It's an easy process and we know that a price listed in a foreign currency has an exchange rate involved. For example, if I want to buy a $10 USD item today, it will cost me $11.99 in my home currency today (quick google search) but conversion rate constantly changes (it's like the stock market). I can quickly look that up (Google) or sometimes paypal or the credit card system will say this.

OK, this is pretty basic and we're used to this. BUT.... why does it seem like so many USA customers get so tripped up buying items listed in Canadian dollars? They email asking what the price is in USA currency then, when shown how the web site itself will do the conversion for them, get confused again when their store receipt shows the Canadian price (we charge in Canadian dollars - as we are a Canadian store). The Canadian price is a higher number (because it's worth less than the USD) but they are actually paying less in USD. They don't seem to realize that USDs are worth more so they can stretch the value and panic because of the higher number.

We are at a loss on what is so confusing. Perhaps there are more customers in the USA who are not used to buying items listed in a foreign currency. Do some people think that $1 USD always has the same value as $1 Cdn? Any suggestions on how to explain this in a simple way?

I'm asking as I know most of you are in the USA and would like to know why this might be confusing and how to make it less confusing. Thanks!
Message: Posted by: mastermindreader (Jan 16, 2015 03:16PM)
Just cut and paste your post onto your website.
Message: Posted by: S2000magician (Jan 16, 2015 03:22PM)
If everyone says that their own currency is the only true currency, then all currencies are false currencies.

Oh . . . wait . . . wrong thread.

Never mind.
Message: Posted by: S2000magician (Jan 16, 2015 03:27PM)
[quote]On Jan 16, 2015, Scott Burton wrote:
We are at a loss on what is so confusing.[/quote]
Americans are, by and large, exceptionally provincial.

It's their fault, not yours.

As Bob says, posting something akin to your post above on your website. And cross your fingers.
Message: Posted by: Magnus Eisengrim (Jan 16, 2015 03:27PM)
[quote]On Jan 16, 2015, S2000magician wrote:
If everyone says that their own currency is the only true currency, then all currencies are false currencies.

Oh . . . wait . . . wrong thread.

Never mind. [/quote]

And that's why everyone hates people who adopt no currency.
Message: Posted by: tommy (Jan 16, 2015 03:37PM)
Perhaps they think the exchange rate varies as it does from one bank to the next.
Message: Posted by: Scott Burton (Jan 16, 2015 03:55PM)
I'm glad you think I'm explaining it properly. It is a challenge in where to put such explanation. Perhaps the FAQs but how many people look at that is unclear (likely low).
Message: Posted by: Scott Burton (Jan 16, 2015 04:00PM)
[quote]On Jan 16, 2015, S2000magician wrote:
Americans are, by and large, exceptionally provincial.

It's their fault, not yours.[/quote]

I did have someone say "If they cannot figure it out, it's their problem not yours". BUT... I know that we lost at least $400 in orders today because USA customers thought they were getting over-charged in the final payment screen because they were looking at the Canadian dollars. Those are the people who actually bothered to email us. So, given that it's income, it pretty much is our problem.

I am getting the hint that those in the USA are not so used to paying anything but USA currency. I suppose I can credit my parents for teaching me such things early on (pre-internet) when we used to do driving trips to the USA to shop.
Message: Posted by: mastermindreader (Jan 16, 2015 04:03PM)
[quote]On Jan 16, 2015, Scott Burton wrote:
I'm glad you think I'm explaining it properly. It is a challenge in where to put such explanation. Perhaps the FAQs but how many people look at that is unclear (likely low). [/quote]

Put it right at the top of the order page. (In bold print with the word "Important" in front of it.)
Message: Posted by: Scott Burton (Jan 16, 2015 04:05PM)
[quote]On Jan 16, 2015, tommy wrote:
Perhaps they think the exchange rate varies as it does from one bank to the next. [/quote]

I suppose the tricky thing is that some banks and credit cards do add a % fee for performing the transaction - which can vary. But, really, we're talking a few cents or a few dollars per purchase. Given that the Canadian $$$$s are beings bought at a discount, it's still a bargain (especially right now with the low Cdn dollar value relative to the USD).
Message: Posted by: Scott Burton (Jan 16, 2015 04:07PM)
[quote]On Jan 16, 2015, mastermindreader wrote:
[quote]On Jan 16, 2015, Scott Burton wrote:
I'm glad you think I'm explaining it properly. It is a challenge in where to put such explanation. Perhaps the FAQs but how many people look at that is unclear (likely low). [/quote]

Put it right at the top of the order page. (In bold print with the word "Important" in front of it.) [/quote]

Isn't labelling the currency clearly as Canadian enough? I suppose I can't get past the idea that I've never seen a web site have to do this. But I get that you are encouraging me to tackle the objection head on.
Message: Posted by: TomBoleware (Jan 16, 2015 04:14PM)
You can't list both prices?

Canada: $11.99
USA: $10.00

I see pricing like that all the time

Tom
Message: Posted by: Scott Burton (Jan 16, 2015 04:14PM)
[quote]On Jan 16, 2015, Magnus Eisengrim wrote:
[quote]On Jan 16, 2015, S2000magician wrote:
If everyone says that their own currency is the only true currency, then all currencies are false currencies.

Oh . . . wait . . . wrong thread.

Never mind. [/quote]

And that's why everyone hates people who adopt no currency. [/quote]


haha

I stayed out of that conversation (self control!) so don't bring that into my thread :)

You guys are fun.
Message: Posted by: MickNZ (Jan 16, 2015 04:21PM)
Set up your site to bill in US currency.
Message: Posted by: mastermindreader (Jan 16, 2015 04:22PM)
[quote]On Jan 16, 2015, Scott Burton wrote:
[quote]On Jan 16, 2015, mastermindreader wrote:
[quote]On Jan 16, 2015, Scott Burton wrote:
I'm glad you think I'm explaining it properly. It is a challenge in where to put such explanation. Perhaps the FAQs but how many people look at that is unclear (likely low). [/quote]

Put it right at the top of the order page. (In bold print with the word "Important" in front of it.) [/quote]

Isn't labelling the currency clearly as Canadian enough? I suppose I can't get past the idea that I've never seen a web site have to do this. But I get that you are encouraging me to tackle the objection head on. [/quote]

Obviously, since you've lost orders, simply stating that the currency is listed as Canadian ISN'T enough.

I'm just thinking of it the same way as I think about the scripting of instructions I give to audience members to make sure they understand what to do- and at the same time anticipating and resolving any common misunderstanding that will possibly arise otherwise.
Message: Posted by: S2000magician (Jan 16, 2015 04:27PM)
[quote]On Jan 16, 2015, Scott Burton wrote:
[quote]On Jan 16, 2015, S2000magician wrote:
Americans are, by and large, exceptionally provincial.

It's their fault, not yours.[/quote]

I did have someone say "If they cannot figure it out, it's their problem not yours". BUT... I know that we lost at least $400 in orders today because USA customers thought they were getting over-charged in the final payment screen because they were looking at the Canadian dollars. Those are the people who actually bothered to email us. So, given that it's income, it pretty much is our problem.

I am getting the hint that those in the USA are not so used to paying anything but USA currency. I suppose I can credit my parents for teaching me such things early on (pre-internet) when we used to do driving trips to the USA to shop.[/quote]
I never said that it wasn't your problem; I'm keenly aware that it is.

I merely said that it's not your fault.
Message: Posted by: Scott Burton (Jan 16, 2015 04:29PM)
Part of it could be that we recently switched from listing prices in USD. We used to only have sales to USA customers so accommodated them by listing in their currency. Canadian customers often resented having to pay USDs to a Canadian company. Today over half are in Canada and we expect this to climb rapidly with us appearing on a national prime-time reality TV show in less than 2 weeks. We knew that we had to change to Cdn $$$s eventually and this is now it.
Message: Posted by: Scott Burton (Jan 16, 2015 04:30PM)
[quote]On Jan 16, 2015, S2000magician wrote:
[quote]On Jan 16, 2015, Scott Burton wrote:
[quote]On Jan 16, 2015, S2000magician wrote:
Americans are, by and large, exceptionally provincial.

It's their fault, not yours.[/quote]

I did have someone say "If they cannot figure it out, it's their problem not yours". BUT... I know that we lost at least $400 in orders today because USA customers thought they were getting over-charged in the final payment screen because they were looking at the Canadian dollars. Those are the people who actually bothered to email us. So, given that it's income, it pretty much is our problem.

I am getting the hint that those in the USA are not so used to paying anything but USA currency. I suppose I can credit my parents for teaching me such things early on (pre-internet) when we used to do driving trips to the USA to shop.[/quote]
I never said that it wasn't your problem; I'm keenly aware that it is.

I merely said that it's not your fault. [/quote]

Understood. Sorry, I was injecting other people's wordings into yours which wasn't right.
Message: Posted by: S2000magician (Jan 16, 2015 04:31PM)
[quote]On Jan 16, 2015, Scott Burton wrote:
[quote]On Jan 16, 2015, mastermindreader wrote:
[quote]On Jan 16, 2015, Scott Burton wrote:
I'm glad you think I'm explaining it properly. It is a challenge in where to put such explanation. Perhaps the FAQs but how many people look at that is unclear (likely low).[/quote]

Put it right at the top of the order page. (In bold print with the word "Important" in front of it.)[/quote]

Isn't labelling the currency clearly as Canadian enough?[/quote]
Evidently not: you lost $400 (Is that CAD400, or USD400?) in sales today.

Should it be? Of course. But remember the provinciality I mentioned above. Their fault, but your problem to try to fix.

Maybe instead of labeling the announcement "Important!", you should try a more direct approach: "Read this you myopic Americans!" Or something along those lines.
Message: Posted by: Scott Burton (Jan 16, 2015 04:32PM)
[quote]On Jan 16, 2015, Scott Burton wrote:
Part of it could be that we recently switched from listing prices in USD. We used to only have sales to USA customers so accommodated them by listing in their currency. Canadian customers often resented having to pay USDs to a Canadian company. Today over half are in Canada and we expect this to climb rapidly with us appearing on a national prime-time reality TV show in less than 2 weeks. We knew that we had to change to Cdn $$$s eventually and this is now it. [/quote]

Specifically a Canadian prime time reality show.
Message: Posted by: S2000magician (Jan 16, 2015 04:32PM)
[quote]On Jan 16, 2015, Scott Burton wrote:
[We will be] appearing on a national prime-time reality TV show in less than 2 weeks.[/quote]
Congratulations!
Message: Posted by: Scott Burton (Jan 16, 2015 04:35PM)
[quote]On Jan 16, 2015, S2000magician wrote:
[quote]On Jan 16, 2015, Scott Burton wrote:
[We will be] appearing on a national prime-time reality TV show in less than 2 weeks.[/quote]
Congratulations! [/quote]

Thanks! It's called "Dragon's Den" which is CBC's most watched show (used to be 2nd to "Hockey Night in Canada" before they lost those NHL rights). The show is the same as your "Shark Tank" show where we pitch our business to millionaire/billionaire investors (Kevin and Robert from Shark Tank used to be on our Dragon's Den). We filmed 11 months ago and it'll finally be airing!
Message: Posted by: Tom Jorgenson (Jan 16, 2015 10:34PM)
Here are two ideas:

You could have 2 websites, like the Chinese, Japanese and Europeans do. At the top of your front page, have a link to "US Customers" and that website.

You could add a small field down by the 'Total' area...In red: "How much is this in US Money?? Press here!" and link it to a conversion website.

Just think "Dumb it down." and remember the title of that great website design book: "Don't Make Me Think!"