Digital Retail: Successful strategies for granting credit online

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In recent years, digital retail has seen enormous growth, with online concessions being a great way to increase revenue and win new customers, and it is important to consider the particularities and differences in relation to negotiations in physical stores.

Digital Retail: Its importance and growth in online trading in Brazil
With such a large population, Brazil has quickly become one of the most important emerging markets in the world. One sector that has seen rapid growth in Brazil is digital retail , especially when we look at the scenario in 2020, when sales reached a historic mark of R$87.4 billion.

E-commerce sales, including digital retail , even with the post-pandemic recovery, have been consolidating, bringing good results to the Brazilian economy. A survey carried out by Híbrido (a company specialized in e-commerce negotiations) showed that companies conducting online negotiations have seen strong growth in the last 12 months. Sales increased by 53% and this value refers to e-commerce sales in the first half of 2022, compared to the same period last year.

What was still a question mark regarding the continued success Israel telegram data of digital retail while businesses were closed is now a certainty and a recipe for success for new businesses, considering the trend of continued growth in this sector. Furthermore, according to research by eMarketer, a 21% increase in the volume of business is expected for 2022, reaching around US$ 5.5 trillion worldwide.

Digital Retail Strategies for Faster and Safer Credit Granting
The technology market offers extremely innovative solutions, such as the possibility of automatically updating customer registration, validating telephone numbers with WhatsApp, for a safer credit analysis in digital retail . This and several other modern solutions for credit analysis are offered by Think Data , a leading information bureau in the national market, which can result in a reduction of up to 90% in the time spent on registration during sales in digital retail .

By implementing speed in the credit granting process in digital retail , the risk of purchase cancellation is reduced. Filling out forms and analyzing information can be simplified and carried out automatically, thus generating greater success in negotiations.

With Think Data solutions , it is possible to check several parameters for safer online credit granting in digital retail , allowing the assessment of professional ties, receipt of government benefits, presumed income, in addition to per capita family income (focusing on classes C, D and E), offering a very in-depth view of the financial situation and bringing security during the generation of new business.

Think Data has a unique solution found in Brazil, making it possible to identify WhatsApp installed on the phone, ensuring success in future contact with these customers, improving the journey in digital retail or in relationships in physical stores.

Digital Retail: How physical stores can implement the agility of online
The old model of interacting with customers at store doors is no longer very effective. People, in general, spend more time browsing online, meaning that the store needs to “go to the customer,” just as ads track consumers throughout their digital retail journey .

For physical stores, understanding the tracking that exists in digital retail e-commerce can be a game changer. It is important to consider the path that customers take to make a purchase (or abandon it), identifying any difficulties or frictions along the way. It is worth highlighting the need to improve the way consumers reach physical stores, and there is a need to implement digital retail technology in the physical environment, such as using customer service that encompasses the digital experience and opening new communication channels between the store and its customers, such as Facebook and WhatsApp.

The customer can continue to have a physical relationship, knowing who their salesperson is, who they have made previous purchases with, and can go to the store to see (or test/try) the product, but with their sales process streamlined. Likewise, the credit granting process can consider digital retail processes , further improving the customer experience.

Digital Retail: How to get help to deal with default?
Think Data is one of the largest Serasa Experian distributors in Brazil and offers a dynamic and easy-to-navigate platform, where it is possible to identify debtors so that debt payment is prioritized, a strategy that helps reduce default in digital retail . In a fully automated manner and without the need for additional actions, defaulters will be notified before the identification is made, in which they are granted a period to pay their debts before the negative listing is made effective, making regularization a priority over other debts.

On the Serasa Experian platform offered by Think Data , it is possible to gain even more in-depth knowledge of the financial health of your customers, whether when granting credit in digital retail or for negotiating credit recovery, promoting the offer of negotiations suited to your customer's current situation.