eRetail trends and 7 actionable steps to maximize your revenue

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WELCOME David Martin 5-10-2016 eRetail trends and 7 actionable steps to maximize your revenue Twitter: @Acapture_Global LinkedIn:

Transcript of eRetail trends and 7 actionable steps to maximize your revenue

Page 1: eRetail trends and 7 actionable steps to maximize your revenue

WELCOME

David Martin 5-10-2016

eRetail trends and 7 actionable steps to maximize your revenue

Twitter: @Acapture_Global

LinkedIn:

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Payvision’sglobalreach

H2

VH-KES

Development center

Acquiring banks / BIN Sponsor

Connecting the dots... Connect and grow

One-stop global payment processing platform delivering domestic acquiring withthe same quality in all regions.

Amsterdam

Berlin

Paris

London

Madrid

Tokyo

Hong KongMacau

Singapore

Auckland

New York

Toronto

Utah

San Francisco

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Alterations you can make straight away to checkout and online sales

Data collected by our in-house

research team

Encourage more conversions and maximizes your

revenue

Today’s presentation

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Key Business Drivers in Cross-Border Ecommerce Survey 2016

An annual survey into the key business drivers and opportunities in online retail

Merchants, merchant service providers, acquirers, payment service providers, consultants

Available at www.payvision.com/white-papers from end of October 2016

Statistics, facts, views and predictions

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2016’s biggest game changers

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Mobile Commerce

Smartphone the 2nd most popular device to search web

80% growth rate for UK’s biggest retailers

Conversion rates

Desktop 4.15%, Tablet 3.41%

Smartphone 1.20%

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TIP ONE: Breathing space

• Tiny spaces for data input in mobile checkouts

• Switch to a top aligning form label

• Allows consumers to check information easily

• Eliminate all unnecessary form filling from your checkout

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TIP TWO: Stay sensitive

• Use sensitive keyboards that switch to numbers when inputting credit card details, phone numbers, etc.

• Consider disabling autocorrect for fields that may present language confusion

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The global eRetail market

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The international market• 74% of world’s retail is online• Ecommerce value up 25% to

USD1.67 trillion• 24% of world’s population

bought a digital product in 2015

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The international market• Massive payment variation from

region-to-region• Increasing levels of fraud and

data breaches• Full localization is essential

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TIP THREE: Let your customer know they can pay the way they want

• Put the logos of every available payment methods on your homepage

• Get backup payment methods in case of unavailability

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User interaction

• 21% of merchants cite User Experience as a major pain point

• Retailers lose USD18 billion annually due to cart abandonment

• 21% of merchants cite User Experience as a major pain point

• Retailers lose USD18 billion annually due to cart abandonment

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TIP FOUR: Let it fail before it fails

• Give each field it’s own validation check

• User must be alerted right away if they have input data incorrectly

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TIP FIVE: Fill… check… proceed

• Do not allow the user to move to the next field until this error has been addressed

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TIP SIX: Say it clearly

• Avoid cryptic messages and generalisms

• Auto-focus the message

• Give a clear explanation

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Asia Pacific USD525.2

billion

Marketplace domination

North America

USD482.6 billion

Still room for the smaller,

niche merchant

Looking forward

What’s the future of online retail?

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Data science and payments

Security and authorization rates

Break down the patterns and

motivations of consumers

Concrete advice on how to

prevent fraud and improve

authorization

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TIP SEVEN: Demand response code and BIN analysis

Ask your PSP for a BIN analysis

This will tell you why rejections have occurred

The most sure-fire way to maximize conversion rates

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THANK YOU FOR YOUR TIME

Get more insight from the Payvision Group:

http://www.acapture.com/white-papers/

http://www.acapture.com/infographics/

http://www.payvision.com/white-papers

Or get in touch:

[email protected]