Multi-Currency Testing

Run price tests in different currencies

Introduction

Intelligems price tests run in your store's default currency by default. However, Intelligems supports price testing in any Shopify-supported currency, so you can find the price that earns you the most profit in each market instead of taking whatever your exchange rate hands you. Each currency you want to test will require its own separate test configuration in the Intelligems app.

Multi-currency runs as a Test. A Price Change run as a Personalization applies in your store's default currency only, so anything priced in another currency is set up as a Test.

Multi-currency testing is included with the Smart Pricing Unlimited module and on the Unlimited plan. It also has to be switched on for your account by Intelligems before the currency selector appears in the app. Reach out to support if you're not sure whether it's on yet.

Requirements

• Make sure Multi-currency testing is enabled on your account. Reach out to support here if you are not sure if this feature has been enabled for you yet

• Your store handles currency conversion through Shopify Markets, Global-E, Shopify localization, or the Coin Currency App. These are the localization sources we can read a shopper's currency from. Reach out to support if you use something else.

• Your price testing integration is complete. Multi-currency works on both our Shopify Functions and duplicate products integrations. If the Modifications tab shows a No price tags detected badge, talk to us before you build anything, because prices won't swap on your storefront.

• Every variant you plan to test has a fixed price set in the currency you're testing, rather than an automatic conversion from your default currency. Automatic conversions move with the exchange rate while the test is live, which shifts your prices underneath your own results.

• You are ready to upload prices to your desired market when you start, pause or end your price test

Which currency setting am I looking at?

Two settings in a Pricing experience are called currency, and they do different jobs.

Setting	What it does
Currency, on the Modifications tab	Sets the currency the test is priced in. The prices you type are real prices in that currency, and shoppers in that currency see them. This is multi-currency testing.
Currency, on the Targeting tab	Filters which currencies a test applies to. On a Pricing experience it locks to your test's currency and can't be edited.

You can confirm which currency a test is priced in at any time from the pill under its name, which reads Shown only to visitors in: followed by the currency code.

Step 1: Set up your test

Creating a multi-currency test is generally similar to any other Price Test, with a few key changes to note. If you are not familiar with setting up a Price Test, please see our article here.

The main differences in setting up a Price Test that is not in your default currency are:

1. Once you've added your test product(s) in the Modifications tab, you will need to update the currency to match your desired test currency as shown in the screenshot below:

This option will not be available until an Intelligems team member has enabled the multi-currency setting for you.

1. You will need to update control prices to match your test currency prices. Prices aren't automatically converted, so verify each cell displays the correct amount. The price on the far left of each row is the product's price in your store's default currency, shown for reference, so don't read it as a conversion of what's in your test groups.

Quick filling test groups based on control prices is not available for multi-currency tests. While you'll see the Quick Fill option in the app, clicking on it opens the Fill By Upload tab rather than Fill By Formula.

1. Currency targeting is set to your selected test currency by default, and will not be editable directly in the targeting section.

Step 2: QA your test

This will be generally the same as QAing any other Price Test, with two additions.

• Switch your own store currency to the test's currency first. Your selected currency has to match the test's currency or you won't see the test at all.

• Read the price CSV before you upload it. Open the file, check the prices against what's in the app, and check the compare-at column matches what you intended. You're about to change catalog prices in a live market with it.

Step 3: Get your price file ready

You don't have to wait for the start prompt to get your prices. Open the ... menu on the experience and choose Get price CSV, and you can prepare and check the upload before anything goes live.

Doing this in advance is worth the few minutes. Once you press Start, your test prices are being served, and the market prices in Shopify need to be right by then.

Step 4: Start the test

Your prices need to be set to the highest-priced test group in order for the test to run properly. When you hit the play button for your test, Intelligems will prompt you to download a price CSV that you'll use to update the prices in your market to the highest prices in your test.

Once you have this CSV, follow the upload steps for your setup below.

You cannot have a product in more than one experiment if the experiments are set to the same currency. If so, the test will not start.

Step 5: Pause or end the test

When pausing or ending a test, you'll be prompted to download a CSV with the prices that you want to roll out either while the test is paused, or permanently. Upload it the same way you did at the start, using the steps below.

Uploading your prices

If you are using Global-e

Reach out to your account manager at Global-e with this CSV. They will help you upload this information. They will also need to revert this at the end of the test so the prices can sync with the current exchange rate.

If you are using Shopify Markets

1. Export Your Products:

   1. From your Shopify admin, go to Products.

   2. Export your products, making sure to include catalog pricing, international pricing, and variants. If you are able to set up any filters in Shopify to limit the export to the products in your test, this will make the next steps easier.

2. Edit Prices in a Spreadsheet:

   1. Use the "Variant SKU" column in the Shopify export and the "sku" column in the Intelligems export to match your products.

   2. Add the prices and compare prices in the Intelligems export to the appropriate Market columns in the Shopify export. There should be one column for the price and one column for the compare price for each Market you have set up in Shopify Markets, so ensure you merge the prices from Intelligems in the correct columns.

3. Import Your Changes:

   1. Save your updated spreadsheet file. From your Shopify admin, go to Products.

   2. Import the file back into your Shopify admin, using the same app or the built-in import tool. The system will analyze your changes and update your products accordingly.

The two files don't share a column layout, so this is a manual merge rather than a straight upload. Build it once for your first test and keep the working file, because you'll do the same merge again when you pause or end. If you're managing this across a large catalog or several markets, talk to us before you start.

Testing more than one currency

Each currency runs as its own test with its own analytics, and you can have several running at the same time as long as they're in different currencies. Your price testing integration only has to be done once for the store, no matter how many currencies you go on to test.

A few things worth deciding before you build them:

• Pick your markets by volume, not by coverage. Testing every market you sell into isn't practical for most catalogs. Sort your last 90 days by country in Sitewide Analytics, test your largest few, and take the direction of those results into the rest.

• Decide up front whether prices have to match across markets. Separate tests can produce different winners, so you can either roll out the most profitable price in each market or hold one price everywhere for consistency. Your results will tell you what's most profitable per market; whether that's the right call for your brand is a judgement about your customers, particularly if they switch markets between visits.