You've landed on our UK website.
Click here to visit our USA website.

If you are having difficulty locating the information you require, we're here to help. Just get in touch and we will do our best to assist you.

Amazon: How thousands of online sellers are protecting Black Friday profits

Black Friday will be the biggest shopping day of the year for buyers and sellers alike. Most online sellers have been preparing for this year’s 27 November retail extravaganza for months now. Online sellers preparing to heavily discount their goods, will have carefully considered their profit margins on each item. When selling overseas, the line between profit and loss is more easily blurred and can cause big problems. Foreign exchnage specialists like Currencies Direct will be helping thousands of online sellers to protect their profit margins and make the most of their international sales – both for Black Friday and in the lead-up to Christmas. 

Without a doubt, this US-born phenomenon has now made its mark on the UK retail industry. US giants Amazon and Walmart had been trying their luck with UK consumers for several years before the craze really took hold last year. In 2014, Amazon UK reportedly sold 5.5 million items in 25 hours – that’s 64 items sold every second.

Expectations for Black Friday 2015 are high. Many predict that, for the first time, the UK will see more than £1 billion in retail sales in 24 hours. Amazon’s “Biggest Ever Deals Event” (which runs for ten days, until 27 November) is already underway.

This year, online marketplace sellers on Amazon have been encouraged to give their own special offers and discounts and take the opportunity to cash-in on the huge upturn in visitors to Amazon’s website over this week. Most online sellers will have been gearing up for this boom over the last couple of months – ensuring their stock levels, marketing efforts, and logistics are all in place to satisfy the increased demand that the day brings. It’s still likely, however, that most sellers will be underprepared when it comes to their foreign exchange needs.

Exchange rates move from one minute to the next and, unless you price those fluctuations in, a move in the foreign exchange markets could see you making losses on your heavily discounted goods.

Realistically, however, keeping a close eye on the exchange rates is something that no busy online seller will have time for. This is where a specialist foreign exchange provider can really add value to your business. Having one on hand can help you to:
  • keep your overseas pricing competitive
  • secure a great exchange rate for you when you come to convert your sales into your home currency
  • make the most of overseas markets and keep additional foreign exchange risks to an absolute minimum.
The UK is the second most popular overseas shopping destination for the US market, so it’s no wonder that selling on Amazon.com at this time of year is an exciting proposition for UK retailers. Add to this the ease of replicating listings for a country that shares your language, and the logistical help on offer with services like FBA, and you can understand why so many sellers are tackling foreign exchange issues head-on and exploring this extremely lucrative market with great success.

For more information on foreign exchange for online sellers contact us on +44 (0) 7847 9269 or email [email protected] If you'd like to read more articles on foreign exchange for online sellers take a look at: 

> Keeping your overseas pricing  competitive
> Bring your overseas sales home in one piece!
> Sourcing your products overseas at the right price

Happy holiday selling!


 

Check our exchange rate

Thanks, we'll be in touch.

Check your inbox - one of our currency experts will be in touch to complete your quote.

If you want see our online exchange rates straight away, simply register online & log in.