What currency is used in Shopee Taiwan? How is pricing determined?

As a cross-border e-commerce platform, Shopee has many sites, including the Taiwan site, and the Taiwan site is considered to be a relatively popular site. So what currency is used in the Shopee Taiwan store? The following content will introduce it to you.

What currency is used in Shopee Taiwan store?

Most of the prices on Shopee are in US dollars, but it still depends on the region. For example, the prices on Shopee’s Taiwan site are in New Taiwan dollars instead of US dollars.

How to set the price?

As part of the most promising Southeast Asian market this year, Shopee Taiwan has attracted many people who want to get a piece of the pie. The logistics and shipping costs of the Taiwan site are different from those of other sites.

The logistics channel used by the Taiwan site is: YTO; every 500g/NTD, assuming the weight of your product is: 1.5kg, for general goods, it is: 0.5 times 70 + 1 times 30 = 65 New Taiwan dollars (14.2 yuan); for special goods, it is: 0.5 times 90 + 1 times 40 = 85 New Taiwan dollars (18.6 yuan). However, because Shopee will hide prices, the first weight of general goods is 70 New Taiwan dollars; the front desk defaults to 55 New Taiwan dollars, and the price needs to be hidden by 15 New Taiwan dollars. The first weight of special goods is 90 New Taiwan dollars; the front desk defaults to 60 New Taiwan dollars, and the price needs to be hidden by 30 New Taiwan dollars.

The general pricing is based on the cost price of the product + domestic logistics fees + freight forwarder packaging fees + platform delivery fees + the profit you want to earn. The pricing is generally determined in this way, and as long as it is priced in this way, you will generally not lose money.

But one thing you need to remember is that you cannot offer a discount at the original price. Never change the original price. Do not offer a discount 15 days after changing the original price. Otherwise, the platform will consider it a false discount. So when you upload the product, you must remember to set the original price higher and then offer a discount.

Every store has traffic-generating products and profit-generating products. Traffic-generating products are priced low, and their main purpose is to attract traffic to the store, with no profit or even loss. But sometimes customers who come in will not buy just one, but often choose to buy a combination. Here you can use the combination pricing method to set the price, and you can set a hard indicator of how much money to ship;

In this way, the overall price does not seem high, and customers do not mind buying more; or adopt a combination sales method, you need to buy one item together with another item; a single item is very cheap, but it must be purchased in combination. In short, whether you choose to go for a low price or a high price depends on your personal actual situation. Both make money and lose money.

When Shopee sets prices, we have to consider several factors such as exchange rates, domestic shipping costs, cross-border shipping costs, freight forwarding costs, profit margins, etc., so the pricing calculation will be a little more complicated.

Regarding the question raised at the beginning, I have introduced it to you in the above content. The currency of Shopee Taiwan store is still different, and each site is different, so consumers need to distinguish them when paying.

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