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344: Andrew Davies — The Power of a Merchant of Record
The Bootstrapped Founder
Localize to Maximize Revenue
Offering localized currencies can increase checkout conversion rates by 31%. Providing multiple payment methods caters to diverse consumer preferences worldwide, driving significant growth for businesses. Understanding regional willingness to pay is crucial; for instance, Southeast Asia's willingness is 35%-38% less than the US, while the Nordics show a 28% higher willingness. Tailoring prices to different territories is essential for maximizing revenue, and investments in automating price adjustments, along with localized currencies and payment options, are strategies to be prioritized.
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