Merging from CAD market to USD market

[Tobias_ESP]

Hello all, seeking some help regarding merging from a CAD based pricing to a USD based pricing and just want to be certain that I follow the correct procedures!

I own and operate my business in Canada which is why I initially set up my business in CAD pricing. That being said, 95% of my suppliers are US based, meaning I have USD pricing policies and often will need to convert pricing to CAD which was fine when having only a couple suppliers. Over the years, I've taken on more and more suppliers meaning a larger product base. It has become a challenge to keep up with the constant changing exchange rates and I've taken the decision to eventually switch my store to USD pricing with local currency. From what I read online, this means I would import products with USD pricing and Shopify will automatically calculate the local price with the FX rate based on my clients location and local currency. My questions are as follows:

1. When importing products, I can map pricing columns to the following: Price; International Price, US Price. With this new change, do I need to select US price or Price as my store default would be in USD? 

2. Would I be capable of importing CAD pricing files as well, only mapping them to a different pricing column like CA Price (if this exists)?

3. Is there any particular information I should be aware prior to switching? Or is there any steps I need to take before the switch in terms of preparation?

Thanks in advance,

[DaisyVo]

Hi @Tobias_ESP 

I totally get why you're making the switch to USD-based pricing—it sounds like a smart move, especially with the majority of your suppliers being in the US. Managing fluctuating exchange rates manually can be a real headache, so shifting to a more automated approach with Shopify’s multi-currency setup should make things a lot smoother.

Now, let’s break down your questions one by one:

1. Which price column should you select when importing products?

Since you’re switching your store’s default currency to USD, you should map your prices to the "Price" column rather than the "US Price" column. In Shopify, the "Price" column represents the default currency of your store, which in your case will be USD. The "US Price" column is usually used for international pricing overrides, which won’t apply to your new setup since your default will already be USD.

2. Can you import CAD pricing files and map them to a specific column like CA Price?

Yes, but Shopify doesn’t have a specific "CA Price" column by default. If you want to import CAD pricing, you have two options:

• Option 1: Use Shopify Markets and create custom pricing for Canada. With Markets, you can manually override CAD prices instead of relying on the automatic exchange rate. You’d do this by setting a fixed CAD price for products.
• Option 2: If you’re using a third-party app like Shopify Plus or a multi-currency pricing app, some of them allow you to import different pricing columns for different currencies.

If you’re okay with Shopify automatically converting USD to CAD, then you don’t need to manually import CAD prices—Shopify will handle it based on the FX rates.

3. Important steps to take before switching to USD pricing

Before making the change, here are a few key things to check:

• Double-check your current product pricing: If you rely on historical CAD pricing, make sure you back up your current product data (via CSV export) so you don’t lose any important information.
• Ensure all payment gateways support USD transactions: Some Canadian-based payment providers may have restrictions, so confirm that your gateway (Shopify Payments, PayPal, etc.) allows USD processing.
• Be aware of transaction fees: Shopify Payments lets you accept multi-currency payments, but if your bank account is in CAD and you receive payments in USD, currency conversion fees may apply when withdrawing funds. A workaround is to set up a USD business bank account to avoid conversion losses.
• Review your tax settings: Sales tax in Canada (GST/HST/PST) is based on the local currency. When selling in USD, tax calculations might change slightly depending on where your customers are located.

Final thoughts

Switching to USD pricing should make things easier in the long run, especially with Shopify automatically handling local currency conversions for your customers. Just make sure to review your pricing structure, payment settings, and tax configurations before the switch to avoid unexpected issues.

If you need extra help, just let me know asap. Thanks!
Daisy.