EXPERT OPINION EXPERT OPIN EXPERT OPIN


NION


FLEXIBLE P YMPAYMENTSAPAY AND UX: THE TOOLS FOR RET AIL SUCCESSRETA


TA O


ver the past decade, the rise of e-comme rce


ha s


rewritten the retail industry, withy,, shopping being


transformed from a 9-5 activity into something that can be done at any time and fr om any place.


opportunity to and secur e customer loyalty


And, while this pr esents an revenue y,, new


boost yalty


research by V isualsoft has rViisualsoft has evealed that many of the UK’s top retailers are hurting their online success by offering limited payment options to shoppers - inhibiting their online sales potential by up to 30%.


This is a significant, but easily- solved issue. The key is that retailers must keep pace with high consumer expectations. This means paying attention to the customer’s experience at every stage, from browsing to delivery and aftercare. Here three top tips for retailers looking to improve the online journey:


are 1. Invest in UX


Consumers today expect to shop how and when it is most convenient for them. In rec ent years, we’ ve witnessed a huge boom in mobile shopping, with r esear ch fr om Emarketer r evealing


that To oday’s time-poor co global


m-commerce sales r ose 40% last year to $1.357 trillion – accounting for 60% of total global ecommer ce. Today’s time-poor consumers demand simplicity and ease of use, so it’s mor e important than ever to secure customer loyalty by of


y off ffering


a smooth shopping experience. This means over hauling the website to ensur e it’s as intuitive and seamless as possible. Options might include a pop-up customer service chat once br owsers have been on the website for over 10 minutes to help them with any queries they might have. Or , for example, optimising ther,, for example, optim online checkout and enabling one- click payments, which can be key to converting br owsers to buyers.


8 DIY WEEK 23 FEBRUARY 2018


2. Prioritise flexible payments Convenience is of the utmost importance when shopping online, and the payment process is vital to providing a smooth experience. Recent Klarna consumer research revealed that 52% of consumers need to save for several months be for e they can buy new home and garden goods. This means that retailers may be missing out on keen customers during this window. By intr oducing multiple payment options – such as consumer finance or the ability to pay later – consumers get the freedom to decide how and when they pay and retailers can secure the sale immediately


tely y..


Frustrations at the point of purchase are plentiful for today’s


shoppers. Complexity delays andy,, lack of flexible payment methods are particular sticking points for shoppers, so retailers must ensure they fine-tune their checkout to boost business. As the demand for convenient payments incr eases, we will see a rise in the number of mer chants trying to make the point of purchase quicker and simpler. There is much to gain for retailers who get this right, as consumers will spend mor e if the payment process is smooth and stress-free.


shoppers. Complexity s. Complexity 3. Go back to basics


The global economy is experiencing uncertainty and UK consumers are starting to feel the pinch, with a considerable proportion adjusting their purchasing norms. According


to the annual ‘Shopper Stock T report from Shoppercentric, four in five shoppers say that they are now being car eful to avoid waste and three in four are avoiding being tempted to buy things they don’t need, which serves as a proof that consumers are watching their expenditure. Ultimately


Tak’ Take’ y,, retailers need


to go back to basics to survive competitive conditions. Merchants should focus on the basics and doing them extremely well – like providing a great online experience, comprehensive customer service and a slick checkout process. Key to success lies in perfecting their existing of fering, as it is here that the battle for customer loyalty will be won or lost.


www.diyweek.net SUCCESS


New figures sug gest tha t retailers are restricting their online potential b y not making the user experience as convenient as possible with flexible payment options. Klarna UK general mana ger Luke Griffiths offers some advice on how retailers can enhance a shopper’s journey online.


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