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Setting Market-Specific Products and Pricing

 

With SHOPLINE, you can create a new market that includes one or multiple countries or regions. This allows you to set market-specific products and pricing, helping you to establish more precise product prices for different markets.

 

In This Article

 


 

Product Prices in Primary Market

The primary market uses the store’s supported currency by default but can change with the product currency. The product price of your primary market is based on the price managed in Product management and cannot be adjusted on the Products and Pricing section under Settings > Markets > Primary market page.

 


 

Pricing in Market Currency

When creating a new single-country/region market, we use the default base currency of that market. In case the currency is not supported, we use the currency of your store as the base currency.

When creating a multi-country/region market, we automatically set your store’s base currency as the default base currency of the market.

You can change the market currency, which will automatically convert the product prices from the supported currency to the corresponding prices in the new market currency using our exchange rates.

To set pricing in the market currency, follow these steps:

  1. From your SHOPLINE admin panel, click Settings > Markets.
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  2. Click on the desired market to enter the details page.
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  3. Go to Products and Pricing > Manage.
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  4. The Currencies section displays the local currency or the store’s base currency by default. You can customize the currencies displayed to customers.
  5. Adjust the products’ displayed prices for each market as you see fit. If it is a multi-country/region market, you need to select Show prices in the customer’s country/region currency.
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  6. Click Save.
Note: Once the market currency is set, customers will be automatically redirected to the corresponding market based on their IP address with the local currency displayed. After setting the local currency, use the Geolocation Redirects app to ensure that customers can see the content displayed in the local currency on your online store.

 


 

Pricing in Local Currency

Creating a multi-country/region market and enabling the local currency means that customers from each country/region in your multi-country/region market can view product prices in their default currency.

If your local market has customers who use different currencies, we suggest adjusting the market currency to match the supported currency.

For example, if your supported currency is Euro and you have created a market called “North America” for Canada and the US with the market currency being USD, you can enable the local currency, with customers in the US using USD and customers in Canada using CAD.

Say the price of Product A in the supported currency is EUR 10. Customers in the US will see the price converted to USD at USD 10.94. Conversely, customers in Canada will see the product price converted from EUR to CAD at CAD 14.71. 

 


 

Editing Exchange Rates

We automatically convert currencies using our current exchange rates, but you can manually select an exchange rate or enter a custom one. Neither the default nor the custom exchange rates incur conversion costs.

In this case, the store price is multiplied by the currency conversion rate, subject to any rounding rules that may be applicable.

To set exchange rates for markets, follow these steps:

  1. From your SHOPLINE admin panel, click Settings > Markets.
  2. Click on the desired market to enter the details page.
  3. Go to Products and Pricing > Manage.
  4. In the Currencies section, click Edit exchange rates.
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  5. In the pop-up window, select Using automatic exchange rates or Use manual exchange rates. If you choose the Use manual exchange rates option, you can enter a custom exchange rate.
  6. Click Done.
Note: If you choose to price your items in the local currency, we will convert currencies using the automatic exchange rates.

 


 

Adjusting Prices by Percentage

Your market pricing is subject to percentage-based price adjustments. Prices are calculated by multiplying the product price in the supported currency by the current exchange rate and applying the specified percentage for price adjustment. 

The formula is as follows: [Product price] × [Current exchange rate] × [Exchange rate adjustment percentage].

For example, if your product is priced in US dollars at USD 20 and you have set the rounding rules for all markets to the nearest whole number, you can control the pricing for the Canadian market in the following ways:

  • Set a manual exchange rate of 1.3 to stabilize the CAD price, then apply a 20% price adjustment. The price calculation would be USD 20.00 × 1.3 × 1.2 = CAD 32.00.
  • Set a manual exchange rate of 1 and apply a 50% price adjustment to solely control the CAD price using the price adjustment. The price calculation would be USD 20.00 × 1 × 1.5 = CAD 30.00.
  • You can choose automatic exchange rates and apply a 50% price adjustment to the CAD price. The price calculation would be USD 20.00 × [current exchange rate] × 1.5. The price will fluctuate based on the current exchange rate and include a 50% price adjustment.

 


 

Manually Setting Fixed Product Prices

To set individual product prices for each active market, go to Markets from your SHOPLINE admin panel. You can set fixed prices for some or all products and multiple variants. For a multi-country/region market, you can only set fixed prices using the market’s base currency. The fixed prices you set will automatically override the converted international prices for each active market.

To set fixed prices, enter the international prices in the base currency of each market. For example, the primary market of Gabriel’s store is the US, with the base currency being USD. He has a single-country market that includes only Canada, with the base currency being CAD, and a multi-country/region market that includes Australia and New Zealand, with the base currency being AUD. Gabriel enters fixed prices for each market as follows:

  • In the market that includes Canada only, he enters the price he wants to display to Canadian customers. For example, if he wants to show a price of CAD 5.00, he simply enters 5.00.
  • In the market that includes Australia, he enters the price he wants to display to Australian customers. For example, if he wants to show the price of a product as AUD 6.00, he simply enters 6.00.

As it is not possible to set fixed prices for multiple countries/regions within the same market, Gabriel’s customers in New Zealand will view prices that have been converted from the base price in AUD to NZD. For example, if the fixed price of a product is AUD 6.00, New Zealand customers will see a price of approximately NZD 6.25.

If Gabriel decides to enter fixed prices in NZD for New Zealand later on, he can create a dedicated market for New Zealand.

To manually set fixed product prices, follow these steps:

  1. From your SHOPLINE admin panel, click Settings > Markets.
  2. Select the other market that you want to view the prices for.
  3. Go to Products and Pricing > Manage.
  4. In the search bar, enter the name of the product for which you want to enter a fixed price.
  5. You can edit a fixed price in the Price column.
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    If the product has multiple variants, click on the edit icon under the Operation column, and the system will redirect you to a page to edit the price for each variant.
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  6. Click Save.

To remove a fixed price, click the price next to the product and then click Reset. The price will be reset to the previously automatic price.

Note: Making changes to your products, such as adding different styles, will render the fixed prices for various markets ineffective. Instead, we will use the products’ store price and apply market-specific pricing rules. We recommend checking your market prices after making changes to your product styles to ensure there are no surprises.

 


 

Viewing Product Price Details

You can review the price calculation method of each product in each market.

We recalculate the market product prices for you whenever there are updates to the pricing rules. 

To view the product price details, follow these steps:

  1. From your SHOPLINE admin panel, click Settings > Markets.
  2. Click on the market that you want to view to enter the details page. 
  3. Go to Products and Pricing > Manage.
  4. Search for the product you want to view.
  5. Click on the edit icon under the Operation column, and the system will redirect you to a page for the product price details.
  6. Click the drop-down menu next to the price of the product or variant. For a multi-country/region market, you can select the desired countries/regions in the country/region selector to view their corresponding prices.
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  7. Click Update.
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