Retail trends and insights from IRX 2017

Looking for the latest retail trends and best practices from the most inspiring brands and key opinion leaders? We’ve got you covered! Since retail is one of our favorite topics and we’re always looking into what’s trending in the retail world, we now share with you our takeaways from the most recent edition of the Internet Retailing Expo that took place in Birmingham, UK, in April.
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Payment data: the key that unlocks real omnichannel retail success

In the omnichannel retail era, merchants have an ever increasing amount of payment data streaming back to them from various sources – in-store, online, mobile and social. This massive volume of information is one of the modern retailer’s most valuable assets when it comes to better understanding their consumer, improving their payment authorization rates and locking out fraud. And yet, properly leveraging payment data requires expertise, resources and a lot of time. That’s why, of the mountains of data produced, less than 0.5% is ever analysed and used by retailers.
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Localization is key to cross-border growth for online travel agencies

For an online travel agency (OTA), entering new markets presents a specific set of complications. Not only are you juggling languages, legislation and currencies, you’re also dealing with travelers from different cultures who may expect different things from the experience. The only way to survive when expanding internationally is product localization using in-depth knowledge of your target region.
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WATCH: How it’s Paid – The Chinese Ecommerce Market

With 380 million shoppers and an annual revenue of USD670 billion, Chinese ecommerce is one of the most exciting  sectors in the world. Breaking into the market is not a simple process, however. The Chinese online shoppers is extremely choosy about where and how they buy their products. Unless you understand their preferences, it will be impossible to get their attention in such a competitive region.

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WATCH: SlicePay – A simple answer to complex split payments

When ecommerce payments need to be split, things quickly get complicated. Dividing a transaction manually drains time, resources and money. If the recipients operate in different regions, varying financial regulations and currency exchanges come into play. SlicePay ensures even the most complex transaction is settled with minimum hassle.

In the video below I explain it in more detail.

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Flexible payment solutions are essential in every industry

When Payvision launched Acapture a little over one year ago, we knew that a new type of payment service provider (PSP) was needed. Payment processes were not in step with the pace of modern retail. Major PSPs were still relying on bloated, inflexible payment solutions from previous decades, which were slowing down their clients’ growth.

As we built our new platform, we put flexibility and data science at its heart. The flexibility would ensure each client got a solution crafted to their needs, while the data aspect meant changes could be made to improve conversion rates as the client used the solution.

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NOT going omnichannel: What are you actually losing?

At the beginning of 2016, many were predicting it would be the ‘Omnichannel Year’, a time in which consumer demands would dominate. Now, as 2017 looms into view, those predictions are being proved correct. Merchants are beginning to see omnichannel retail as a must-have rather than a possible choice.

We believe going omnichannel is not just a trend but rather a major development in a merchant’s business performance. To illustrate this, here we list the three most important things you are missing out on if you do NOT go omnichannel.

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