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Just had a discussion with some coworkers, and we settled on a conclusion, which may be beneficial or not. Impulse buys are feelings, not thoughts (see Simon S
by danudey 15y ago
Just had a discussion with some coworkers, and we settled on a conclusion, which may be beneficial or not.
Impulse buys are feelings, not thoughts (see Simon Sinek's TED talk), so it really depends on your market and why they're buying your product. If it's the sort of thing that they'll do a ton of research on, compare other products, and then settle on a conclusion, then you should be fine either way.
If it's the sort of thing people will either impulse buy or forget about, then you may want to consider the issues involved with making a currency conversion.
1. When a user encounters a currency they're not familiar with (for many Americans, this is any non-USD currency), there's an immediate break in their purchase flow as they suddenly have to try to figure out what it's going to cost them. This requires math or research (most people don't know Google will do currency conversion), which gets in the way of their quick-purchase-then-off-to-facebook workflow.
2. When a user sees your product at (for example) €20, they see the number, they see that it's twenty, and they decide in a split second whether twenty is a reasonable price. When they realize that it's twenty Euro* and the price is actually thirty of their local currency, then, despite their conscious awareness of how currency works, the price has effectively increased by 50%. This can hurt purchasing depending on how devoted they are to the service. Even if '30 of something' is a fair price, their brain got used to the idea of 'twenty of something' and now they stop and reconsider.
This disjoint is especially noticeable at higher values; at €90, you're below the 'one hundred' threshold; at $135, you're suddenly above it.
One recommendation I can make is to provide an approximation of local currency. Figure out the user's most likely local currency, do an automatic conversion (e.g. to USD) and then round up. Give them a ballpark that's higher than their original purchase, but make it clear* that it's an approximation, and the actual cost will depend on exchange rates and their bank's conversion fees (which will help hide any discrepancies). e.g. for €10, offer $15, even though the exchange is $14.348. Rounding up means that you never overcharge, but also that the user doesn't suddenly have to switch between currencies mentally.
* http://www.youtube.com/watch?v=qp0HIF3SfI4 http://www.youtube.com/watch?v=qp0HIF3SfI4
There's a name for this, I forget what it is.
* …enough. Maybe a note like 'You are currently browsing in USD, but you will be charged in Euro. Currency conversion fees may apply.'
- thibaut_barrere 15y agoThanks - again tons of useful informations. My guess is that the lean version will be $ only (almost everyone agrees to buy in $, and € users can just divide the price a bit :-)). Thanks for taking the time to write and share all this, really appreciated.