Click here to discover our Pay by Bank solution!

Login
Get in Touch
Articles Tagged with

Luxury Retail

How to build loyalty with Luxury’s new generation of shoppers

How to build loyalty with Luxury’s new generation of shoppers

The anticipated emergence of Millennials and Gen-Z into the luxury retail space is here. Currently accounting for approximately 50% of luxury sales across the globe, this figure is expected to exceed 70% by 2025 (Bain & Co., 2022). As modern technology and evolving customer mindsets shape the landscape of high-value retail, the lines between physical and digital touch points continue to blur. At Prommt we have noticed that many of our luxury clients are incorporating a more personalised communications strategy that extends to payment collection and beyond, in order to foster relationships with repeat customers. We believe that by developing a business strategy where digital and in-store interactions complement rather than compete with each other, brands are able to successfully create bespoke shopping experiences that connect and leave a lasting impression. Luxury’s new generation of hybrid shoppers expect to engage with brands through multiple channels simultaneously. Read our latest market insight piece to learn how an omni-channel approach to payment flexibility focused creating bespoke experiences opens opportunities to enhance the way retailers interact with customers, building stronger and more enduring relationships.

How to Reduce Fraud this Festive ShoppingSeason

How to Reduce Fraud this Festive Shopping Season

Black Friday and Cyber Monday are synonymous with big sales and deal bonanzas that kick-start the festive shopping season. These deals are not just online or in-store, many purchases, particularly high-value, luxury purchases are often done over the phone in consultation with the retailer. There is often a sharp increase in online and mobile banking fraud during this time of year, which usually occurs when sensitive payment details including PIN codes are misappropriated. The value of unauthorised electronic payment frauds stood at €21.5 million for the second half of 2021 in Ireland. Keep security top of mind this festive season by minimising fraud & chargebacks with Prommt’s secure, trusted, branded payment requests.

Login
Demo