{"id":27491,"date":"2023-11-29T07:10:48","date_gmt":"2023-11-29T15:10:48","guid":{"rendered":"https:\/\/www.intentwise.com\/blog\/?p=27491"},"modified":"2024-02-06T04:49:57","modified_gmt":"2024-02-06T12:49:57","slug":"convert-currencies-amazon-automatically","status":"publish","type":"post","link":"https:\/\/www.intentwise.com\/blog\/data-analytics\/convert-currencies-amazon-automatically\/","title":{"rendered":"Explained: How to convert currencies on Amazon","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n<p><strong>How do you convert currencies automatically on Amazon?<\/strong> For brands that use Amazon\u2019s marketplace to sell their products globally, one of the peskiest challenges they\u2019ll face is trying to distill their metrics into a single currency.<\/p>\n\n\n\n<p>Let\u2019s say you want to see your ad spend or ad revenue globally. Without currency conversions, it\u2019s hard to make sense of all of your data points at a glance.&nbsp;<\/p>\n\n\n\n<p>It\u2019s a time-consuming problem to solve.&nbsp;<\/p>\n\n\n\n<p>If you want to total your ad spend across all geographies, for example, you have to download reports from every country in which you sell. Then, convert each of them into the same currency, and add it all up.&nbsp;<\/p>\n\n\n\n<p>This might be annoying, but not unfeasible, if you sell in just two or three countries. But once you begin to expand internationally, the process becomes unsustainable.&nbsp;<\/p>\n\n\n\n<p>Luckily, there\u2019s an easier way. Here\u2019s everything you need to know about converting currencies on Amazon.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/Intentwise-Currency-Conversion-1024x768.png\" alt=\"\" class=\"wp-image-27496\" srcset=\"https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/Intentwise-Currency-Conversion-1024x768.png 1024w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/Intentwise-Currency-Conversion-300x225.png 300w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/Intentwise-Currency-Conversion-768x576.png 768w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/Intentwise-Currency-Conversion-1536x1152.png 1536w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/Intentwise-Currency-Conversion-560x420.png 560w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/Intentwise-Currency-Conversion.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-do-i-convert-currencies-on-amazon-nbsp\"><strong>How do I convert currencies on Amazon?&nbsp;<\/strong><\/h3>\n\n\n\n<p>Growing brands will quickly find that they have <em>a lot <\/em>of data they want to compress into a single currency.&nbsp;<\/p>\n\n\n\n<p>The first major currency conversion you\u2019ll probably encounter is your earnings from Amazon. If you sell in multiple countries, you\u2019ll want to convert your payments from Amazon into one currency before it lands in your bank account.&nbsp;<\/p>\n\n\n\n<p>But Amazon payments are only the start. You also want to ensure you can automatically organize all of your retail and ads data into a single currency, too.&nbsp;<\/p>\n\n\n\n<p>For instance, let\u2019s say you want to build a view of your <a href=\"https:\/\/www.intentwise.com\/learning-hub\/e-commerce-data-strategy\">profitability per ASIN<\/a>. It\u2019s not going to mean much if you\u2019re looking at your profit numbers in six different currencies.\u00a0<\/p>\n\n\n\n<p>Similarly, if you want to track your ad spend or ad revenue across the globe, you are going to need to convert it all to the same currency for it to mean anything.&nbsp;<\/p>\n\n\n\n<p>Below, we\u2019ll show you how to do it.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-can-i-get-paid-in-my-local-currency-nbsp\"><strong>How can I get paid in my local currency?&nbsp;<\/strong><\/h3>\n\n\n\n<p>For years, getting paid internationally on Amazon has been a hassle for 3P brands. Sellers had to open a foreign bank account or manually transfer funds internationally. They could also rely on third-party providers like Wise to get paid in their local currencies.&nbsp;<\/p>\n\n\n\n<p>The newly launched <a href=\"https:\/\/sell.amazon.com\/programs\/amazon-currency-converter\">Amazon Currency Converter for Sellers<\/a> tool attempts to streamline the process. With ACCS, Amazon will deposit money in your home bank account.<\/p>\n\n\n\n<p>Plus: Before the deposit, all of your earnings will be automatically converted into your home currency.&nbsp;<\/p>\n\n\n\n<p>Amazon Currency Converter for Sellers makes it easier to get paid by Amazon. But getting paid isn\u2019t the only time you\u2019ll find yourself needing currency conversions.&nbsp;<\/p>\n\n\n\n<p>If you want to take an international view of your ad or sales performance, for example, there\u2019s no default way to view your data across countries with normalized currency.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-do-i-get-my-international-amazon-ads-data-nbsp\"><strong>How do I get my international Amazon ads data?&nbsp;<\/strong><\/h3>\n\n\n\n<p>Let\u2019s say you want to evaluate your Amazon ad campaigns from an international point of view.&nbsp;<\/p>\n\n\n\n<p>Before you even get to currency conversions, you\u2019re going to need to collate your data from every country in which you sell.&nbsp;<\/p>\n\n\n\n<p>Unfortunately, that\u2019s going to involve a whole lot of downloading .CSV files, and manually joining them together in Excel.&nbsp;<\/p>\n\n\n\n<p>In Seller Central, Amazon separates out its reports by country. If you want to see your total spend across all countries, you have to download these reports one by one for each country, and then join them together.&nbsp;<\/p>\n\n\n\n<p>The problem is, even once you\u2019ve joined together these country reports, you\u2019re still not going to have a clear portrait of your global ad spend. Your numbers will all be in different currencies, until you apply a currency conversion to all of them.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-do-i-convert-currencies-manually-nbsp\"><strong>How do I convert currencies manually?&nbsp;<\/strong><\/h3>\n\n\n\n<p>The most rudimentary way to convert currencies on Amazon is to build a mapping table within Google Sheets.&nbsp;<\/p>\n\n\n\n<p>Once you\u2019ve downloaded your reports for every country from Seller Central, you have to go in and manually combine those tables in Google Sheets.&nbsp;<\/p>\n\n\n\n<p>Then, to convert those numbers into the same currency, add the Google Finance tool into your spreadsheet. The benefit of Google Sheets is that it can provide real-time exchange rate data for your conversions.&nbsp;<\/p>\n\n\n\n<p>To do this, first choose the 3-letter currency code for each currency you are converting between. US dollars is USD, euros is EUR, and so on.&nbsp;<\/p>\n\n\n\n<p>Then, use the following formula: =GOOGLEFINANCE(&#8220;CURRENCY:EURUSD&#8221;)*Cell#<\/p>\n\n\n\n<p>A few notes:&nbsp;<\/p>\n\n\n\n<p>The \u201cEURUSD\u201d number should vary depending on the final currency you want. Here, \u201cEURUSD\u201d converts euros to U.S. dollars. \u201cUSDEUR,\u201d meanwhile, would convert U.S. dollars to euros.&nbsp;<\/p>\n\n\n\n<p>Secondly, the cell# should identify the cell you want to convert. So writing \u201cC6,\u201d for example, converts the currency in that specific cell.&nbsp;<\/p>\n\n\n\n<p>Do-it-yourself currency conversions aren\u2019t so complicated if you just have to do a few of them. The problem is needing to do it again and again, for every report you download. It\u2019s going to get overwhelming quickly.&nbsp;<\/p>\n\n\n\n<p>That\u2019s why you might consider <a href=\"https:\/\/www.intentwise.com\/analytics-cloud\">Intentwise Ad Optimizer<\/a>, which automates these currency conversions for you. No more downloading reports, and no more hard-coding in these conversions.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-are-data-enrichments-nbsp\"><strong>What are data enrichments?&nbsp;<\/strong><\/h3>\n\n\n\n<p>Currency conversions are just one piece of a vast ecosystem of what we at Intentwise call \u201cdata enrichments.\u201d&nbsp;<\/p>\n\n\n\n<p>Essentially, data enrichments are ways to make your data from Amazon and Walmart easier to digest. When you\u2019ve enriched your data, you can understand it\u2014and take action based on the insights you pull from it\u2014far more easily.&nbsp;<\/p>\n\n\n\n<p>It\u2019s much easier to identify a new ad strategy, for example, when all of your numbers are in USD than when they are a jumble of currencies.&nbsp;<\/p>\n\n\n\n<p>Currency conversions are the first step in the data enrichment process. Once you\u2019ve automated your currency conversions, you need to apply other enrichments, such as data segmentations.&nbsp;<\/p>\n\n\n\n<p><strong>Wait, what\u2019s data segmentation?<\/strong> For example, you\u2019ll want to break up your ads data into branded vs. non-branded keywords. Your branded keywords will inevitably perform better than your non-branded keywords, so you want to avoid muddling the portrait of your performance.&nbsp;<\/p>\n\n\n\n<p>Similarly, if you sell multiple product lines under the same brand name, you\u2019ll want to break up your performance by sub-brand. The performance of your coffee beans won\u2019t look the same as the performance of your coffee machine.&nbsp;<\/p>\n\n\n\n<p>By enriching your data in these ways, you make it easy to see the most important trends at a glance.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-do-i-automate-currency-conversions\"><strong>How do I automate currency conversions?<\/strong><\/h3>\n\n\n\n<p>The problem with enriching your data is that it\u2019s a lot of work. Ultimately, marketers don\u2019t want to get mired in the fine details of organizing their data. They want to focus on the analysis, and get to work.&nbsp;<\/p>\n\n\n\n<p>When you use <a href=\"https:\/\/www.intentwise.com\/analytics-cloud\">Intentwise Analytics Cloud<\/a>, we conduct these currency conversions for you, automatically. Choose your preferred currency for viewing your data, and we\u2019ll apply real-time exchange rate data.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1002\" height=\"509\" data-src=\"https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/table-results-1.jpg\" alt=\"\" class=\"wp-image-27493 lazyload\" data-srcset=\"https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/table-results-1.jpg 1002w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/table-results-1-300x152.jpg 300w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/table-results-1-768x390.jpg 768w, https:\/\/www.intentwise.com\/blog\/wp-content\/uploads\/2023\/11\/table-results-1-560x284.jpg 560w\" data-sizes=\"(max-width: 1002px) 100vw, 1002px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1002px; --smush-placeholder-aspect-ratio: 1002\/509;\" \/><\/figure>\n\n\n\n<p>We enrich your data in myriad other ways as well. Upload a key to your products, and we can segment your performance by branded vs. non-branded keywords automatically.&nbsp;<\/p>\n\n\n\n<p>We can also break up your data by sub-brand just as easily, so you can quickly see how your ad campaigns for the coffee beans differ from your ad campaigns for the coffee machines. Want to try it for yourself? <a href=\"https:\/\/www.intentwise.com\/analytics-cloud\">Book a demo<\/a> with us today.&nbsp;<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"excerpt":{"rendered":"<p>How do you convert currencies automatically on Amazon? For brands that use Amazon\u2019s marketplace to sell their products globally, one of the peskiest challenges they\u2019ll face is trying to distill their metrics into a single currency. Let\u2019s say you want to see your ad spend or ad revenue globally. Without currency conversions, it\u2019s hard to [&hellip;]<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":22,"featured_media":27665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[81],"tags":[187,96],"class_list":["post-27491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-analytics","tag-currency-conversions","tag-mobile"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Explained: How to convert currencies on Amazon<\/title>\n<meta name=\"description\" content=\"You can&#039;t understand your Amazon data without currency conversions. Here&#039;s how to convert currencies automatically.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.intentwise.com\/blog\/data-analytics\/convert-currencies-amazon-automatically\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Explained: How to convert currencies on Amazon\" \/>\n<meta property=\"og:description\" content=\"You can&#039;t understand your Amazon data without currency conversions. 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