Similar to other retailers, when the COVID-19 pandemic struck, this merchant’s ecommerce volumes grew astronomically. This led to a heightened focus on increasing ecommerce revenues and gross margins. However, the internal client team in place at the time had limited experience understanding and identifying ecommerce revenue optimization opportunities and were operating on limited resource.
Our specialists started by benchmarking the ecommerce approval rates to identify areas of underperformance in the company’s key markets. Leveraging the CMSPI Platform our team of experts harnessed the power of data to uncover opportunities for rate optimization.
We worked with issuers and processors to lower rates and advocate for more favorable solutions for the merchant. Our team then recommended changes to the international processing strategy of the merchant, which more effectively supported the client’s long-term goals.
Our team was able to help the international retailer achieve 25 basis points (bps) improvements in several months, resulting in over $20m in revenue gain along with a half a percentage point margin increase. Also, by adjusting their processing set-up, we delivered a 20% increase in the approval rate in one of their key markets. Additional important benefits the client received included a higher conversion rate, improved analytics visibility, and streamlined RFP management.
Our specialists achieved significant cost savings and accelerated growth by harnessing the power of data and delivering more sales at a lower cost.