After Changing Shop Currency I Have Seen a Decline in Sale

[Lostboysvintage]

I recently changed my shop from receiving USD to CAD because that 2.5% Etsy takes mounts to many thousands of dollars every year. Since doing this change (3 days ago) we have seen a 75% decrease in our median daily sales. We are not new to Etsy and make roughly 600 vintage clothing sales a month and have over 12,000 transactions. I am wondering if anyone else has run into similar problems as we are a team of 4 people and I haven't even been making enough to pay my employees let alone our warehouse bills. I started this business from my basement 4 years ago, seeing this kind of a decline is severely disheartening and has caused me to lose much sleep and have very high blood pressure. Someone please help!

Kindly, Zakary Ibrahim of Lost Boys Vintage.

[onedaysgracenz]

@Lostboysvintage  Changing the currency of your shop doesn't affect how much Etsy charges in fees. There fees are set percentages or fixed amounts, so they are the same in every currency - they just look different. It's about where your shop is located, not about what currency you use.

Payment processing fees are the same too. If you are not a US shop, there will be a fee for exchanging currency from your sales to whatever currency your bank account accepts for your deposits (your national currency).

I am in New Zealand but my shop is set in US currency. It makes no difference to what I pay in fees. As far as I know changing the currency doesn't make any difference to your shop visibility or sales rate.

You will see there are a great number of threads about declines in sales rates. The main reason is the world's economy. There are other reasons too of course, but the world is heading into an official recession. All retail is slowing down.

[MouseGarden]

Someone on Reddit a few years ago said that changing their shop currency created a temporary dry spell, then it returned to normal.  They went from USD to Euros.  They also reported getting more orders from Europe after they switched.

The exchange rate Etsy uses probably made the US prices look a little higher when you switched than they did before.

[givemeacrown]

How is your shop's traffic? Have you also seen a 75% decrease in visits and views?