Card Commerce in FashionThursday, 05 August 2010 With many retail purchases paid for with credit and debit cards, purchases being returned and guys buying vouchers for their wives and girlfriends, your credit and debit card terminal probably takes quite a battering! We’ve worked with retailers like Louis Copeland, Sasha, Black Tie, Carl Scarpa, Arnotts and No Name, so we know a bit about the Fashion Sector in the UK and Ireland. And this means that we understand your needs, we understand what works and what doesn’t and, most importantly, we know how you can save money and sell more! With Card Commerce you can: Reduce your CostsWith many retail purchases now made on credit and debit cards, even a small reduction in processing fees can deliver a significant cost saving. Because of our broad purchasing power, and deals in place with key acquiring banks, we can offer you processing rates than many other payment providers can’t get close to. And that’s money straight back to your bottom line! Increase RevenueIf you’re still using paper gift vouchers, get rid of them – even if you’re a smaller retailer you can have a state-of-the-art gift card programme today! Gift cards have no value on them until loaded so can be merchandised throughout your store, at the till, from hanging units on shelves or even from clothes hangers (with the right carrier design). In addition, average float time (the time between card purchase and redemption) is normally around 50 days and breakage (the amount left unused on issued cards) runs at around 9% (cash that goes straight back to the bottom line), so there’s a compelling argument for gift card! Incentivise repeat visits and increased spendWhy not introduce a simple card-based programme to reward your loyal, repeat customers. Easily set up on our Merchant Portal, you control the way in which the programme is deployed and you control the rewards. If you’re less busy on Tuesday mornings and if you have a frequent visitor programme or subscriber list, then why not send them a card pre-loaded with £10 and active only on Tuesday mornings. This will incentivise visits and, when they do visit, they’ll spend the £10 and more. If they don’t visit, the £10 loads haven’t cost you anything! Don’t pay for returnsIf you currently offer cash refunds for returned items, why not change your policy and offer the refund on a gift card instead? That way, you retain that customer spend (they have to come back to you to spend it) and the chances are that they will spend more than the initial load on that card. Contact us now to see how you can rapidly increase your sales and significantly reduce your credit and debit card processing costs with Card Commerce. |
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