BNPL model can boost online sales

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 06, 2021, 2:08 AM UTC

Cross-sell and upsell with data-based personalised offers to increase ecommerce sales.

To increase the value of consumer purchases, brands must offer varied buying options following the recent shifts in ecommerce. Providing the Buy Now, Pay Later (BNPL) shopping option, wherein consumers split their purchases into instalments, can help drive sales and reduce cart abandonment.

Online retailers should let consumers Pay with Points, as this allows consumers to redeem reward balances from credit cards to pay for groceries and other essentials. This can help improve sales and build consumer loyalty. Businesses can also curate personalised product offerings, provide exclusive subscriber-only benefits like faster shipping through subscription models, to drive sales.

Offer convenience and add value to consumers’ shopping experiences to retain online customers and increase sales. Creating targeted and value offers, while delivering on promises and providing memorable experiences is recommended to sell online effectively.

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