Collective - Forex Conversion

Shopify Discussion
1

Hi, I’m connected with a Canadian supplier (Nisu Home) on Shopify Collective. They are quoting a cost price to me in Canadian Dollars but it is converting 1 to 1 to UK Pounds in my store making the product hugely expensive. The Shopify AI Assistant suggests this is a current know limitation of Collective. Therfore can you a) re-assure us that we will only get charged tha actual cost based on the prevailing FOREX rate when the customer completes an order and b) put this fix on the product backlog for Collective please?

3

Just to re-frame my query more clearly:

We are connected with a Canadian supplier (Nisu Home) via Shopify Collective. The supplier wholesale pricing is correctly denominated in CAD; however, when products are imported into our UK store, the CAD cost price appears to be converting 1:1 into GBP rather than applying an FX conversion rate. This is causing the retail pricing generated in our store to become significantly inflated.

The Shopify AI Assistant suggested this may be a current limitation or known issue within Collective’s multi-currency handling.

Could you please:

  1. Confirm that, when a customer order is ultimately placed, the actual supplier settlement amount will be based on the prevailing CAD/GBP foreign exchange rate at the point of transaction settlement rather than the apparent 1:1 display conversion currently shown within the product setup.

  2. Confirm whether this is a recognised issue or limitation within Shopify Collective’s handling of supplier currencies and retailer store currencies.

  3. If this behaviour is not currently functioning as intended, please add this issue to the Shopify Collective product backlog for future enhancement/fix consideration, as it materially impacts the usability of Collective for international supplier relationships.We are connected with a Canadian supplier (Nisu Home) via Shopify Collective. The supplier wholesale pricing is correctly denominated in CAD; however, when products are imported into our UK store, the CAD cost price appears to be converting 1:1 into GBP rather than applying an FX conversion rate. This is causing the retail pricing generated in our store to become significantly inflated.

    The Shopify AI Assistant suggested this may be a current limitation or known issue within Collective’s multi-currency handling.

    Could you please:

    1. Confirm that, when a customer order is ultimately placed, the actual supplier settlement amount will be based on the prevailing CAD/GBP foreign exchange rate at the point of transaction settlement rather than the apparent 1:1 display conversion currently shown within the product setup.

    2. Confirm whether this is a recognised issue or limitation within Shopify Collective’s handling of supplier currencies and retailer store currencies.

    3. If this behaviour is not currently functioning as intended, please add this issue to the Shopify Collective product backlog for future enhancement/fix consideration, as it materially impacts the usability of Collective for international supplier relationships.

4

Hello @stevetwatson

Shopify Collective now shows supplier prices in the supplier’s currency, and conversion handling can cause confusion when selling across markets. A realistic workaround would be to base your retail pricing and margins on your anticipated exchange rate and place a sample order to confirm your landed cost and profitability prior to publishing products en masse. For feature requests (like yours), posting well detailed examples in the Collective feedback area really helps illustrate the effect, and may help drive future product improvements.