Did you know that cart abandonment in the eCommerce industry has reached a tremendous rate of 70.19% in 2023?
The inability of online stores to meet customer expectations is the main reason behind these dreadful figures. Payment systems play a crucial role in the customer journey. Buyers want everything from payment choices to currency options in their favor. And, being an eCommerce owner you must ensure these needs are consistently fulfilled.
However, Magento requires you to set up a base currency which restricts customers from checking out with their preferred currencies. This further limits your global objectives as international customers are required to manually convert the listed price of products into their domestic currency and then proceed to checkout.
Introducing GeoIP Currency Switcher
To overcome this issue, Tech9logy Creators came up with an exclusive extension. Magento 2 GeoIP Currency Switcher facilitates your customers, belonging to other countries, to freely checkout with their preferred currencies. As soon as you install and configure the settings of our latest extension, your customers or visitors will be able to view product prices as per their current geoIP location. It depicts that our extension promotes international trading and helps you achieve your global goals.
Features of GeoIP Currency Switcher
Let’s now have a look at the top features of our GeoIP Currency Switcher extension-
1) Break the Stereotypes Set By Magento for Base Currency: Magento demands setting up the default currency before your store gets live. The product prices will be displayed in the set default currency only. Enable our extension today to unlock the real potential of your Magento store by allowing your customers to pay in their preferred currencies.
2) Utilize GeoIP Location to Display Product Prices in Local Currencies: Efficiently utilize the GeoIP location of your customers to display product prices in their local currencies. For example, if someone accesses your store in France, they will observe automatically converted product prices in Euros (€). Similarly, when someone browses your store in the US, it will display product prices in Dollars ($).
3) Encourages International Trading: Save your customers from the tedious process of manually calculating the product prices as per their domestic currency from your store’s default currency. Our extension promotes international trading by eliminating the manual process and automatically displaying the prices as per the geoIP location of customers.
4) Reduce Cart Abandonment on your Magento 2 Store: The major reason behind cart abandonment is the inability of customers to pay with their preferred currency. Our extension ensures smoother checkout by facilitating your customers to checkout with their domestic currency, thereby improving customer experience. It all adds up to reduced cart abandonment on your Magento 2 store and augmented sales.
It’s clear now that the GeoIP Currency Switcher is indeed an excellent tool to upgrade your customer experience and reduce cart abandonments on your store. This superb extension lets your customers smoothly checkout with their domestic currency by eliminating the tedious manual process. We hope this comprehensive guide helped you understand the workings and benefits of using the GeoIP Currency Switcher extension.
Tech9logy Creators is a leading Magento development company with over 9 years of experience. We have a dedicated team of 40+ developers who aim to deliver top-notch Magento solutions. We use the latest tools & techniques to ensure responsive online stores that catch customers' eyes. Contact us today to share your requirements.