Throughout each episode, Angus will be joined by special industry guests sharing their experiences and meaningful insights across various retail markets and segments.
The series will cover a range of topics that identify opportunities and innovations happening in the industry as a result of our new retail landscape moving into 2021, and how to leverage them for your business.
Watch Retail Reboot episode one
We kickstart episode one with CMO of Avenue51, Byron Constable. Avenue51 is one of the biggest United Kingdom to China cross-border eCommerce companies.
Headquartered in London, their award-winning solutions help simplify expansion for hundreds of European-based brands, such as Waitrose, Premier Foods and Aspinal of London to collectively reach over 600 million consumers across China.
Join Angus and Byron for an insightful dive into the transformation of thinking around shopping and the impact this is having on direct-to-consumer experiences, logistics, and brand perception in cross-border eCommerce. Highlights include:
- How to leverage desire when breaking to the market during consumer holidays
- The impact ‘sharing’ can have as part of a four-part framework
- How to capture the other 75% of value in every transaction
- Why payment experiences should be invisible but shareable
Talking points on Retail Reboot
Pressed for time but want a few points to keep you going until you can watch the full episode? Read on for a couple of bite-size talking points from Angus and Byron.
"I think everyone should be coming to emerchantpay. Because payments shouldn’t be a discussion with a consumer… it should be invisible." – CMO at Avenue51, Byron Constable
Influence the other three
Byron introduces his team’s findings, according to which the paying customer of every single transaction will influence the purchase behaviour of up to three other customers on average.
This means that if a retailer is only focusing their resources on getting a single customer to the checkout page at a time and discounting the post-transaction experience, they could be missing out on 75% of the value of that initial transaction.
Right now there is a thinking pattern shift for retailers globally from pre-transaction to post-transaction, and it is something Angus has also seen working with businesses during the pandemic. Not only does the shift promote sharing positive customer experiences, it’s also building organic brand exposure at a critical point when the world is turning to digital media.
Payments should be invisible
The day-to-day of a retailer consists of getting the consumer to the purchase point, developing the product and brand, and coordinating the marketing and logistics that go into the final purchase. Seamlessly integrated payments are also a must but should not stand out from the rest of the buying journey. In fact, they should become invisible.
Angus and Byron also noted in the episode how not offering your consumers’ preferred payment method was similar to closing the door to them in a physical shop.
"You would never even consider making it difficult for consumers to give you money after all of that effort." – CMO at Avenue51, Byron Constable
Having the right payment methods and gateways ensures the door is always open for consumers, no matter where they are in the world. Angus highlights that offering alternative payment methods such as AliPay and WeChat Pay to consumers in China is extremely important for supporting a seamless customer experience.
Optimising your eCommerce offering
If your business is looking to expand into new markets and optimise its online payments and eCommerce offering, get in touch with our team of payments experts today. At emerchantpay, we help connect businesses around the world with more than 50 global payment methods and shopping carts to help localise your payment set-up per region and increase acceptance rates.
Please be sure to subscribe to the emerchantpay YouTube channel for new episodes as they happen or follow Angus on LinkedIn for useful insights into the retail industry across the UK and Europe.