Innovation, like evolution, is something that is inevitable especially in the 21st century. In order to survive in the market no matter what industry you’re in, you must learn to innovate in one way or another.
So are you a member of a travel company or tour operator looking for a more efficient way for cash flow? Have your customers complained to you before about having to come all the way to your office to drop a deposit or make a full payment? You’re not alone and you’re in luck.
Every day, your online store is visited by a number of people that end up exiting without completing the purchase process. Ever wondered what that meant? Cart abandonment; the cause of lost sales. Statistics derived from SaleCycles report the average cart abandonment rate for Q1 2018 to be 75.6%, falling by 1.4% since Q4 2017. Although marketers have increasingly become aware of the factors influencing consumer behavior and their shopping process, more information is yet to be discovered, encompassing a wide array of businesses, across different industries. It is also important to note that cart abandonment rates depends on the industry, as every business has its distinct customer behavior and purchase process.
Over the past 15 years, online shopping has moved from a novelty to a necessity. And in a highly competitive online marketplace, having one way to accept payments is necessary but having multiple ones puts you at an advantage. Customers are more likely to make a purchase from sites based on which payment methods are accepted. This means that having a well functioning payment getaway is a crucial step to achieving profitability.
The healthcare industry changes all the time to cope with lightning speed breakthroughs and adopt new methods that not only improve patient care but also all aspects that revolve around it including convenience. And nowadays, thanks to the internet and mobile penetration, the industry as a whole is seeing never before services in how doctors deliver patient care such as online appointment reservations and telemedicine.
Whether they’re purchasing a trip or doing online grocery shopping , ultimately all consumers go through the same process of decision making. Generally speaking consumers normally go through 4 steps to make a purchase; they are:
Travellers value two things above all else: security and convenience. In the past, these two things were provided by hotels through physical means such as security employees, attentive service, and ergonomic designs. These are all still crucial aspects to any hotel’s success in keeping their patrons happy. However, recent technology has added a multitude of ways to add more security and convenience to their clients’ stays.
Financial inclusion is a governmental measure that aims at allowing both individuals and businesses to gain access to the products and services of financial institutions in whichever form that maybe - transactions, payments, savings, credit and insurance - at a reasonable cost and in a sustainable mode. In July 2017, Egypt was chosen, along with China and Mexico, as a model country in a new Financial Inclusion Global Initiative launched by the World Bank Group. The three-year initiative aims at supporting access to financial services to the unbanked and underbanked.
Gone are the days of cash on delivery and bank transfers. With the onset of online businesses today, it is essential to accommodate online payment options for transactions. Selling online comes with the hassle of ensuring that every transaction is secure and fits the needs of your customers. And with e-commerce growing day by day in Egypt, it is essential to understand the online buying process.
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