What is it?
If your Store uses a currency other than USD, CAD, or AUD, you can now convert products using a Suggested Retail Price in one of those currencies to the currency of your Store at an exchange rate you set.
Why is it important?
Marketplace products have Suggested Retail Prices available in three currencies: USD, CAD, and AUD. If your Store uses one of these currencies, a product’s price will default to the Suggested Retail Price in the same currency if you haven’t yet set your own retail price for that product.
However, if your Store uses a currency other than USD, CAD, or AUD, products you add to your Store without a retail price will display their suggested retail price in USD by default. Manually setting the retail price of each product can be a time-consuming process for anyone trying to get their Store up and running quickly.
Now, if your Store uses a currency other than USD, CAD, or AUD, you can easily convert the Suggested Retail Prices of products to your Store’s currency, at an exchange rate you choose, making it quicker and easier to price your offerings and launch your Store.
How does it work?
If you’ve already set retail prices for certain products in your Store, don’t worry. This feature will only affect products that you haven’t already set a retail price for.
In Partner Center, under Marketplace > Manage Store > Store Settings > Currency, you’ll now see a Conversion rate section. Follow these steps to convert the suggested retail prices of your Store’s products to your chosen currency:
- If you haven’t already, set your Store’s currency by clicking the 🔒 (Lock) icon, selecting the currency you want your Store to use, and clicking Save.
- Under Conversion rate, input the conversion rate you’d like to use when setting your product retail prices. Since products in the Marketplace are priced in USD by default, your conversion rate should represent the exchange value of your currency relative to 1 USD.
- Click Convert to begin the conversion. If your Store has a lot of products that you haven’t already set a retail price for, this process may take a few moments.
Who gets it?
All Vendasta partners can use this feature.