Since online shopping is becoming increasingly common, it’s better for online store owners to adopt multi-currency payments and worldwide available shopping sites. Why?
Theoretically, customers in different countries and even continents could order something from (for example) an American vendor and have it shipped to them.
This means that the number of potential customers for ecommerce store owners grows. You can now communicate with anyone on the entire planet, not just those nearby.
Customers now have a larger selection of retailers from whom to buy, increasing their freedom and flexibility to decide exactly where their money will go. So, this creates a wide range marketplace for store owners to track competitors. Since Prisync is helping ecommerce store owners to track and monitor their competitors to profit more, it makes its price tracking in multi-currencies and worldwide sites.
If you want to have all your potential clients, and don’t want to lose them due to better pricing of your close competitors; just let automation do its work and handle the burden.
The benefit of being able to track competitors with different currencies
If you’re selling products wanted internationally, you might have various competitors with different currencies and site domains. Prisync’s engine tracks competitors with foreign domains and currency. This will benefit you to capture customers from outside of your country. Since ecommerce and online selling lets you sell without borders, take advantage of it and consider your close competitors from other currencies.
You are now able to utilize tools that help in getting around the globe of multi-currency pricing thanks to the development of technological systems.
Consider Amazon as an example; they have a domestic payment system that enables them to sell internationally.
As a result, they have a vast worldwide audience and have established themselves as a major brand. You can make sure you can get paid in your currency even if you sell in several different currencies.
By doing this, neither you nor your client will have to worry about conversions or additional costs. This method will help you avoid time-consuming problems in the future.
Once you start to sell in different currencies, Prisync monitors your worldwide competitors for you. If you are selling on Amazon, Shopify, Google Shopping, or elsewhere, you can sync your products to Prisync’s dashboard. It doesn’t no matter what currency you want to track, you can start to have competitive prices for increasing your profits internationally.
The benefit of being able to track competitors from worldwide sites
Prisync covers worldwide ecommerce sites. You can add product URLs from foreign countries. Since we want you to have competitive and profitable prices, covering your competitors internationally will help you on this topic.
Why not monitor any site from any marketplace? If you are selling products that have high demand worldwide, this feature is just for you. Because pricing can be a big challenge when it comes to considering so many countries, currencies, and competitors. It’s a very time-consuming task to do it manually.
With automation, you add sites from different country domains and sell your products by setting prices according to their pricing strategies. It’s important to keep an eye on your competitors when there is an opportunity to increase your target audience and boost your sales with higher revenues.
Real-life examples
You can do price tracking from worldwide sites with Prisync. As in the dashboard example below, if your website sells USD and the price of the competitor’s product is from a foreign site (e.g. TL), it is possible to see the price in both currencies when you hover over the price of the product on your dashboard.
As with our user, Coleman, you can monitor and track any site/product from anywhere in the world. A retailer selling online in Europe or America may have a large competitor in China. Because there are no borders in online selling. The developing technology now offers great opportunities to buyers who want to do online shopping. Thus, the market is quite competitive.
You can determine profitable prices by monitoring your competitor’s products in China. If the price information taken from the site is in HKD (Hong Kong Dollar), it will be reflected on your dashboard as the currency you use on your website. When you hover over each price information, you can continue to view the prices in the original currency pulled from the site in China.
Final Thoughts
Multi-currency support is a smart approach if you want to grow your company and sell in new markets.
You’ll be able to boost your total income in addition to expanding your consumer base.
The ecommerce industry is expanding quickly all over the world. If you want a smart start, it’s ideal to consider how you’ll price your items for both local and global markets. Then you can utilize particular pricing methods to help you set prices that are reasonable for all customers. Prisync is now ready to assist you whenever you need it! Being able to monitor and track worldwide ecommerce sites and multi-currencies will give you a competitive advantage over your competitors.
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