10427 The Retailer Autumn 2018_Final Draft Pages

98% of British shoppers said they’d be more loyal to an online retailer if they received refunds within one day.

By offering instant refunds through online bank payments, merchants have an opportunity to increase their revenue per customer without fundamentally changing their business model or product offering. This can increase ROI from acquisition activities and also help in differentiating them from competitors. Now I know what you’re thinking: The UK is a market in which shoppers largely prefer to pay by cards and shoppers aren’t going to readily change behaviors. However, according to Trustly’s survey, 69 percent of UK shoppers said they would be willing to try a new payment method if it offered instant refunds. Clearly, many shoppers value functionality over familiarity Today’s shoppers have come to expect instant gratification in all areas of the shopping experience — from browsing and purchasing through shipping and returns — and brands that deliver on that expectation are sure to win not just the hearts, but the wallets of British shoppers.

LUKE FLOMO // Luke.Flomo@trustly.com // trustly.com/ecommerce

the retailer | autumn 2018 | 13