Are Shopee's prices in New Taiwan dollars or RMB? What is the pricing formula?

Many of our domestic sellers have opened stores on Shopee. No matter which site we are on, we must first learn how to set prices. But many friends don’t know whether Shopee’s prices should be set in New Taiwan dollars or in RMB?

If it is Taiwan Shopee, then the product price should be filled in Taiwan dollars. Most of the prices on Shopee are in US dollars, but it still depends on the region. For example, Shopee Taiwan is in Taiwan dollars instead of US dollars.

What is the pricing formula?

As we all know, Shopee does not charge for store rents, but instead takes a 5%-6% platform commission and a 2% transaction fee. Therefore, Shopee's pricing formula is:

Selling price = product cost + profit + international shipping fee + 6% commission + 2% transaction fee

Analyze one by one

1. Product Cost

The cost in the formula refers not only to the purchase cost accounting of the product, but also the cost of the product itself + the freight to the Shopee warehouse + the fees charged by the freight forwarder. They need to first purchase the products from the manufacturer and send them to the freight forwarder's address, which will then undergo secondary processing (repackaging, face sheet bonding, etc.) before sending them to the Shopee warehouse.

2. Platform Commission

1. The platform only charges commissions for completed orders

2. The base of the commission charged does not include shipping costs

3. No commission will be charged for cancelled orders

4. No commission will be charged for the first three months of a new store

3. Transaction Fee (2%)

1. Only charge transaction fees for completed orders

2. Both cash on delivery and non-cash on delivery orders will be charged a handling fee

3. The handling fee is based on the order amount (including shipping fee)

4. Transaction fees and platform commissions are independent of each other

4. International Shipping Costs

There are two delivery channels for Shopee: one is SLS logistics through Shopee channels, and the other is home delivery logistics provided by third-party channels. For small items, sellers are usually recommended to choose SLS official channels. The shipping cost of SLS is relatively cheap and the delivery time is 4-8 days.

Since the shipping fees charged by different Shopee sites are different, let's take the Taiwan site as an example to look at Shopee's shipping fee calculation rules. The shipping fees in Taiwan are divided into general goods and special goods according to the type of goods, and are divided into home delivery and store delivery according to the type of logistics.

If the seller does not provide free shipping, the buyer needs to pay NT$60 for home delivery and NT$70 for delivery. Therefore, for general goods within 0.52kg, the seller needs to pay NT$15. If the goods do not increase by 0.5kg, the seller needs to pay an additional NT$30 for shipping.

Generally speaking, if you are in Taiwan, the price of Shopee is in New Taiwan Dollars. If you are in mainland China, it is in RMB. But the price of Shopee shopping is generally in US dollars.