The feature could help e-retailers keep better track of international sales.
Dollar, yen, pound, zloty, baht and dong: Google Inc. today launched a service that enables users of Google Analytics to track transaction metrics in 31 global currencies, including those listed above.
The popular web analytics program—used by 163 retailers in the Internet Retailer Top 500 Guide and 300 retailers in the Second 500—enables merchants and marketers to measure site traffic, conversions, sales and other metrics.
With the multicurrency feature, which Google says it is rolling out over the next few weeks, retailers can track such data points as revenue, tax and shipping and handling costs in different currencies. “This provides key benefits for e-commerce brands looking to conduct analysis across an international customer base and helps make some reporting easier,” writes Wayne Xu, Google Analytics team, in a blog post.
AllPosters.com, which sells in 25 countries via 20 currencies, is among the e-retailers already using the multicurrency service. “Previously, manual adjustments were required before we could read sales metrics in Google Analytics when we had transactions with large currency conversion ratios to the U.S. dollar, such as the Mexican peso and Japanese yen,” says David Tjen, the e-retailer’s director of analytics. “The simple code update solves the issue by automatically converting all transactions to the primary currency on each site, providing sales metrics that allow us to make faster decisions with our web analytics data.”