As consumer confidence returns retailers in the UK are increasing their investment and focus in e-commerce services to attract the growing amount of customers who choose to shop online.
Innovative development of new e-commerce technology holds the key for UK companies seeking to maintain and expand their presence in the ferociously competitive online retail market. Coforge, a global technology provider, is leading the charge in the provision of innovative e-commerce solutions which are turning ‘browsers into buyers’.
“In the UK some £3.7 billion is lost in sales to shopping cart abandonment. Retailers need to instil a higher degree of focus and effort in persuading consumers to spend on their web-sites. This is one of the areas where Coforge can assist retailers with click to chat services; faceted navigation techniques and other well tried and tested offerings.” said Ravi Shankar Pandey, Senior Vice President and UK head at Coforge Ltd.
Coforge have recently provided click to chat services for a UK-based global fashion retailer which resulted in improved sales conversions – where a browser chooses to buy – from 5.7 percent to 11.9 percent. The service increased overall online revenue by about 44 percent.
The retailer listed a variety of products on its website, creating a need for a solution which had the functionality to manage the frequent changes on the website, while also offering customer support. Coforge delivered a solution which provided a seven-days-a-week ‘web chat’ service, covering customer services, website navigation support, helpdesk and advisory services along with query resolution and escalations online services.
Research carried out by independent analyst Verdict, found that while the online shopping population has grown from 17 percent in 2003 to 60 percent in 2009, growth rates in the market are set to decline from 270 percent in the period 2003-2008 to 69 percent over the next five years 2009-2013.
“With a slowdown in the number of additional new consumers shopping online each year, retailers have got to be far more strategic in how they grow their businesses. They’ve got to target shoppers more selectively, work far harder to engage with those shoppers and drive them to their sites, ensure that they are given every opportunity to spend, and then manage the ongoing relationship to secure long term loyalty. Conceptually it’s simple; executing it is far harder” said Neil Saunders Consulting Director at Verdict Research
Consumer confidence in the UK rose to the highest level in one-and-a-half years last month as the economy showed signs of coming out of the recession, according to figures published by Nationwide Building Society. An index of sentiment rose six points to 71, the highest since April last year, the mutual reported.
Coforge is a leading IT solutions organization, servicing customers in North America, Europe, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including Managed Services and Business Process Management to organizations in the Financial Services, Travel, Retail and Distribution, and Government sectors. Coforge follows global standards of development, which includes ISO 9001:2000 certification, assessment at Level 5 of both SEI-CMMi version 1.2 and People-CMM frameworks and ISO 27001 information security management certification. Its data centre operations are assessed at the international ISO 20000 IT management standards.
For further information, please visit www.coforgetech.com
Certain statements in this release are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.