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IMRG Data Report - Increasing Customer Conversion

Supported by J.P. Morgan

Summary

There is no doubt that retail overall is facing many challenges in 2019 and online retail is no exception. ONS reported that retail sales in 2018 grew 3.69% to £423bn; IMRG’s figures showed the online component grew by 11.8%, with growth forecast to slow in 2019 to around 9% overall. The reasons for the slowing in growth are for debate elsewhere. However, they set the background for this report. Retailers are under increasing pressure to find growth and, while their customer proposition is key, performance management has never been more important.

This is an IMRG report looking at things to consider when optimising payment acceptance processes for higher conversion.

This report is supported by J.P. Morgan.

Merchant Services is the payment acceptance and merchant acquiring business of JPMorgan Chase & Co. – a global financial services firm with assets of $2.5 trillion and operations worldwide.  It is a leading provider of payment, fraud management and data security solutions, capable of authorising payment transactions in more than 130 currencies. J.P. Morgan, through its Merchant Services business, has uniquely combined proven payment technology with a long legacy of merchant advocacy that creates quantifiable value for ecommerce companies. Its processing platforms provide integrated solutions for all major credit and debit card payments as well as mobile payments and processed more than $1 trillion in payment transaction volume worldwide in 2017. According to The Nilson Report, it is also the top merchant acquirer of ecommerce transactions in Europe.

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