Question about Euro vs Sterling

CompleteTrainer · Nov 18, 2008

I run a UK site which accepts sterling, but want to sell to all English speaking nations.

Is it hard for clients in Ireland to pay in Sterling?

I am looking at putting an extra function on my site which gives Euro and US$ equivalents, and paypal accepts all currencies and then converts at its own rate.

Would seeing price in sterling only put you off?

Would a guide price in Euro, that was then different when you went through paypal, be misleading?

Thanks
CT

luckyg · Nov 19, 2008

Depends if you have any competition within ireland?

if there is an irish site doing same thing with euro prices, then i woudl go with them.

if not, then you have an advantage and i would be less put off because i want ur item.

how abotu makign a seperate site for each country or one for eurozone and oen for uk?

worldpay then allows you take euros form customer and converts it into sterling for you

although i wouldnt recommend worldpay.

deniser · Nov 19, 2008

I have lots of Irish customers and in fact customers around the world and I only take pound sterling.

The Irish shop here because goods are much cheaper. They are very used to pound sterling as they have that in N Ireland too and many cross the border to shop in NI for the same reason.

It's easy to convert currencies on the internet within seconds so I personally don't think different currencies are essential.

CompleteTrainer · Nov 19, 2008

Really good point! I've not found any competition in Ireland for my range yet, but I should do more research.

I am still trying to work out if going into the US I need a US based site too - the thought of having one for every country I sell in may be a bit daunting though.

Thanks,
CT

cableboxesireland · Jan 2, 2009

they should have moved over last year to the euro

Saarah · Sep 11, 2009

r u sure that they hav moved to euro?

PhilBen · Sep 18, 2009

Hi if you want that option then you need to have a GBP and a Euro account with you bank. But don't use Paypal. Paypal charge 2.5% on any currency transaction. So if you had 30,000 50,000 or a 100,000 then paypal would still charge you 2.5% off interbank rate. As a trader I would charge less than .75% on 30,000 .65% on 50,000 and .5% 100,000. That is a very big difference

Irish Business Forums · Sep 24, 2009

If your products are B to B then I'd say stay in Sterling. Most of the Irish Business community are experts at day to day conversion of dollars, euros and sterling with our eyes shut.

I'd suggest though, that the average consumer and especially the younger generation (sub 30) would now be quite euro centric.

70% of cross border consumer internet sales in Irland are in $US.

While sterling for cross border shopping (Tesco etc) between Ireland and Northern Ireland would be perceived as good value by Irish shoppers, the perception of sterling internet sales would be one of poor value when compared with the US $.

Stuart

pressme · Dec 7, 2009

Irish consumers (and businesses) prefer to see totals in Euro but rates should be accurate. The best solution is to have a Euro merchant account with a payment gateway service which supports Euro. Customers get irritated if buying a Euro priced item and then have to pay in sterling on their cards because they (a) have to pay a cross border fee and (b) the exchange rate does not match and invariable the item costs more.

By handling Euro you also have the advantage of reaching other European markets, especially Germany where level of English is v. strong.

Search

Search

Question about Euro vs Sterling

CompleteTrainer

luckyg

deniser

CompleteTrainer

cableboxesireland

Saarah

PhilBen

Irish Business Forums

pressme

Similar threads

Latest Articles