Can Shopify support multi-currency?

However, can Shopify support multiple currencies?

Shopify, at present, offers true multi-currency by operating a different storefront per currency, due to each currency needing to be linked to a currency specific bank account. So for example, a store wanting to operate using GBP, USD and EUR would need a bank account in the United Kingdom, the United States and a European country such as Germany. This will mean operating 3 storefronts, so a UK storefront, US storefront and potentially multiple European storefronts, dependant on language needs.

Internationalisation can be partially achieved via a multi-currency dropdown. Using IP detection, shoppers will be presented with the option to view all their products and basket in the currency of their location. Whilst this can be a handy interim solution for stores operating in multiple countries, at checkout the currency will revert to that of the stores' bank account.

Ok so that’s the bad news out of the way, however, there are bonuses to a multi-store setup

First things first, brands need to step back and assess if they truly need a multiple currency solution. In many cases, they want their customers to be able to checkout using their native currency. However, for some brands, international customers make up a small amount of their total revenue, it may not be financially beneficial to implement a multi-currency solution.

A key benefit to the multi-store setup is the ability to manage and localise content. Regional language, keywords, and content all contribute towards local SEO. The flexibility of multi-store allows brands to promote regional events, such as national observances or public holidays and even localise products. Presenting your customers with products, promotions and reviews in their native language makes a global brand seem local, increasing brand following, loyalty and ultimately conversion rates.

One of the big challenges that clients can see with the Shopify multi-store setup is the manual work of updating multiple sites, however, multi-store using Shopify is actually simpler.

Whilst e-commerce stores operating on other e-commerce platforms, such as Magento, need a full in-house development and infrastructure team to support international e-commerce, multiple Shopify storefronts can be managed with either regional country managers or via a digital agency. Even with other solutions, regional content will still need to be produced and uploaded to respective stores.

Other things to consider will be integration pieces, such as ERP or warehouse solutions, however, this is common for all platforms. Although it can sound like a lot of work, actually the cost is a lot lower as your integration pieces will be a one-off setup, and you won’t need an in-house team of developers or IT experts to keep your store operational.

If you’re considering taking your Shopify store global, we have the in-house experts to help. Enquire today to get started.