Welcome

Minimum friction, maximum opportunity: strategies for improving conversion rates in online retail

Sponsored by Ekata
Wednesday 14th June 2023
Brasserie of Light, Selfridges

Regardless of volume or margin size, conversion is everything. When every sale counts, engaging and persuading online consumers to complete the journey from initial interest to checkout requires a seamless payment experience with minimum friction. Digital native retailers know this to be true. Bricks and mortar retailers extending their digital operations are discovering this, too.

In an attempt to contain the extensive rise in ecommerce fraud seen over the past ten years, counter measures such as PSD2 Strong Customer Authentication (SCA) and stricter authorisation controls at issuing banks have had a huge impact on good customers, and therefore online payment conversion rates.

What strategies exist to tackle the conversion rate challenge? And how can they be implemented while continuing to protect the consumer, comply with regulation and keep retailers free of fraud? This evening event from Retail Systems addresses these questions directly. It will bring together senior practitioners from a range of high-profile retailers, providing an opportunity to exchange ideas, experiences and best practice.

Topics for discussion:

•What are you doing today to analyse your payment conversion rates, failure rates and cart abandonment rates?
•What is acting as a brake on customer conversion? Where are the barriers?
•To what extent do you rely on third party providers for payment acceptance decisions, such as your acquirer?
•What would be the revenue impact of making payments acceptance decisions in-house?
•Where is the biggest skills gap inside your organisation when it comes to addressing payments conversion?
•Are you investing in data science/machine learning within your payments and fraud functions?

Timings for the evening:
18:30 – 19:00        Welcome and refreshments
19:00 – 20:00        Introduction to fellow guests and roundtable discussion
20:00 – onwards  Complimentary three-course dinner