Retail and eCommerce highlights this week include: Elastic Path has launched Elastic Path Payments, powered by Stripe. Storyblok supports Supplement Hub’s EU expansion using headless CMS tech. Fluent Commerce delivers new Order Management System for one of the world’s largest wine companies. GenZ and young millennials are leading online grocery adoption shows MikMak research. Yotpo releases its fourth Annual State of Brand Loyalty survey revealing the importance of brand values to UK shoppers
Elastic Path partners with Stripe to provide an integrated payments solution
Elastic Path has launched Elastic Path Payments, powered by Stripe. Increasingly, brands are leveraging modern best-of-breed payments solutions in conjunction with their commerce solutions, but it can be complex to navigate a multi-vendor approach. Elastic Path Payments simplifies this by providing a single pre-integrated solution with ongoing support.
With Elastic Path Payments, brands can facilitate complex checkout processes across customer touchpoints or geographical markets and drive revenue growth. IDC’s analysis found that Stripe customers saw clear benefits to their bottom line, increasing their revenues by 6.7%. Customers can expect the same revenue-generating customer experiences and also benefit from the holistic support a single vendor provides.
The benefits of this solution include higher checkout completion rates, increased payment acceptance, and lower fraudulent transaction rates. Elastic Path Payments addresses every stage of the checkout process, ensuring brands are ready for success. Features include:
- Seamless online checkout: Offer a checkout experience in 25+ languages, 135+ currencies. The solution dynamically shows the payment methods most likely to improve conversion. Provide up to a 46% increase in sales after enabling local payment methods.
- Fraud management: Increase top-line revenue with decreased false positives on credible transactions. Every year, businesses lose an estimated 3% of their revenue due to false declines.
- Network-wide acceptance: Avoid declines due to network issues or unrecognized cards with automated re-tries and credentials updates.
- Best-in-class security: Compliance with the most current standards, including PCI DSS Level 1, PSD2 (EU), and SCA.
- Payment methods for all business models: Subscriptions support, Alternative Payment Methods (wallets like Apple Pay, Google Pay, etc.), Buy Now Pay Later payment methods, POS machines.
Storyblok brings headless CMS tech to the health and wellness space
UK health and wellness brand Functional Nutrition Group is to partner with enterprise CMS Storyblok. The partnership aims to assist in future-proofing its technology stack and support growth.
The Group’s B2C nutritional supplement brand, Supplement Hub has expanded into Europe and internationally. The company plans to ensure that it remains agile and profitable in overseas markets despite the challenges presented by Brexit. Along with a new Amsterdam-based office, the expansion has included a new-look digital storefront, with UK-specific and global versions.
To achieve this and support the fast and efficient rollout of tailored, localised, omnichannel content required by the expansion, the Group is using Storyblok’s headless CMS platform – which replaces its previous legacy architecture.
This latest project comes at a time of huge growth for Austria-based Storyblok, as more businesses seek the flexibility and agility afforded by the innovative headless CMS architecture to fuel eCommerce strategy. Further recent client partnerships include Marc O’Polo and Bols, the world’s oldest distillery.
Treasury Wine Estates uncorks Fluent Commerce to elevate direct to consumer experience
Treasury Wine Estates, one of the world’s largest wine companies, has chosen Fluent Commerce’s distributed Order Management System (OMS) to streamline stock management. Fluent Commerce will also enhance the online experience for customers shopping via its online brand stores.
The new Fluent Commerce OMS was integrated with Salesforce Commerce Cloud within one week of going live. Treasury Wine Estates’ Adelaide distribution hub was no longer systematically constrained by the number of orders it could ship and commenced same day shipping for the first time.
Treasury Wines Estates partnered with global experts in Order Management consulting and implementation, Bridge Solutions Group, a Pivotree Company. The company now has a single view of global inventory. In addition to the ability to more efficiently fulfil online orders directly to the customer.
MikMak 2022 research says Facebook and Instagram drive 25% of online grocery traffic
MikMak, a leading eCommerce acceleration platform has released its latest Grocery eCommerce Benchmarks and Insights Report for 2022. One of the company’s 2022 category eCommerce guides, MikMak’s Shopping Index shows that across all media types, social platforms are driving the majority of online grocery traffic and households without children are the biggest group buying groceries online. Key findings from the report:
- Data from the MikMak Shopping Index shows that while Facebook and Instagram remain one of the staple channels for grocery eCommerce, driving 25% of online shopping traffic, Google ads follow close behind with 21.3%. YouTube and Pinterest are also popular channels for grocery, driving 11.8% and 9.7% of traffic, respectively.
- Young couples without kids have the highest purchase intent for purchasing groceries online. This is followed by households with 1-2 children. Households with 3-4 children have the lowest purchase intent.
- Currently, Walmart takes the lead as the top retailer of choice for grocery eCommerce shoppers on the MikMak Platform. 15.8% of shoppers prefer to check out there. Target and Amazon follow closely behind with 12.2% and 12.7%, respectively. Instacart, 2021’s top preferred retailer, comes in fourth at 9.3%.
- Traditional grocery stores with online portals like Kroger, Fred Meyers and Ralph’s combined make up over 43% of preferred check-out destinations for grocery eCommerce shoppers.
Yotpo research reveals UK consumers are loyal to brands that share their values
Yotpo, an eCommerce marketing platform, has today published its annual State of Brand Loyalty survey for the fourth year running. Based on the answers from 3,800 respondents across the UK, US, Australia, France, and Germany, the survey found that 85% of global respondents are more inclined to buy from a brand whose values align with their own.
In the UK, 87% shoppers stated they are increasingly drawn to brands whose values align with their own. 96% of UK Gen Z consumers said they were inclined to be loyal to a brand that shared their values. Bad business practices related to the mistreatment of workers or the environment were found to be the top reasons that would discourage customer loyalty.
Amid less access to third-party data, consumers are increasingly concerned by the way their personal information is being handled. 81% of global consumers stating data transparency is important to them. However, 68% of global consumers stated they are willing to share personal information with brands they love in exchange for more personalised loyalty experiences and rewards. In the UK, this is also the case for 66% of consumers.
While consumers may have been more emotionally invested in their favourite brands during the pandemic, the onus is now on brands to earn shoppers’ emotional loyalty. Building true emotional loyalty requires crafting journeys, forming storylines, and creating more organic and deeper reasons for why consumers would choose to deliberately spend time with your brand and the experience it provides.