Google Analytics gets wider currency support
Google announced this week that it would be broadening the range of currencies that are available to view from within its e-commerce oriented Analytics platform.
This will allow webmasters to track and analyse a wide range of transactions, even if they are taking place across multiple currencies and from within different regions of the globe.
The metrics which can be tracked include the shipping costs, sales taxes and of course the revenues that are being generated by an e-commerce site.
The multi-currency support within Google Analytics is particularly useful because it means that sites which do business in several markets can analyse all of their activities in a single interface, with currencies converted into whichever is the most convenient format.
This means there is no need to carry out manual conversions prior to compiling metrics and assessing performance.
A total of 31 currencies are now supported within Google Analytics, including Pound Sterling, US Dollars and the Euro.
E-commerce transactions are converted by the tools based on the previous day’s exchange rates. And of course Google has plenty of experience dealing with information from the money markets and offering real time updates.
Websites offering e-commerce services have come to rely on Google in order to generate traffic and drive sales, so it is often necessary to use as much data as possible, to determine the correct course of action going forwards. Learning from statistics pulled from past transactions is sensible, although Google’s new expansion of its currency analytics capabilities is not something that can be retroactively applied, at least at the moment.
In other e-commerce news, it was revealed this week that a new partnership between Twitter and American Express would see the world of social shopping become even more significant.
Wired reports that the two companies have joined forces, so that the Amex Sync system can be used to let customers buy certain items simply by tweeting about them.
It is both a novel and somewhat confusing solution, arguably to a problem than did not exist in the first place.
Purchasing involves first registering your credit card to a Twitter account, then tweeting about a product using the appropriate hashtag, before sending a final confirmation tweet to American Express to put the whole thing through.
The partnership will also be used to encourage consumers to get out on the high street and earn discounts at real world outlets by tweeting.
The problem with social shopping of this kind is that consumers are hardly short of ways to access e-commerce services at the moment, so adding convoluted alternatives is not a recipe for success.
That is not to say that e-commerce sites should ignore the social side of the equation. In fact the opposite is true, because Twitter and Facebook are becoming increasingly influential in the shaping of buying habits
If a retail site is able to attract consumers via search engines and social platforms, then convert them into paying customers, the battle is won.
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