Retail Observer

RETAILOBSERVER.COM MARCH 2021 58 I t's no secret that COVID-confined consumers have embraced e-commerce at an eye-popping pace, leaving physical-only retailers in the dust. What is less well known is that AVB Inc., parent of the BrandSource buying group, was busy building a digital armada long before the pandemic, in anticipation of an eventual online migration. The advanced planning drove a 718 percent increase in ad-related purchases for its member dealers last year, which has spurred the organization to double down on its digital magic in 2021. Last month, AVB Marketing – the group's e-commerce, digital advertising and social media experts – provided a sneak peek at the next generation of e-tail tools that will keep BrandSource dealers ahead of the pack. Dubbed "The Full Stack," the hour-long marketing and technology forum unveiled a host of proprietary innovations to enhance the online shopping experience and engage an increasingly sophisticated consumer. AMONG THE HIGHLIGHTS • Tapping Into Over-the-Top TV • Adding Pizazz with Google Discovery Ads • Supercharging Retail Websites • Pre-recorded Product Demos with Top Sales Associates • Bringing the Online Wizardry In Store Led by AVB's Chief Marketing Officer John White and his team, the live event also fielded questions from an industrywide audience comprised of retailers, manufacturers and media. Perhaps one of the hottest topics covered in the forum was payment gateways. For as shoppers shift to online stores in record numbers, convenience – even more than price – can make all the difference between closing a sale and losing one. PUT YOURSELF IN THE CUSTOMERS' SHOES 1. You pore through a website, comparing various brands, models and options. 2. You make a selection and add it to your shopping cart. 3. You go to checkout … and that's where the ease of purchase ends. Rather than call in a credit card number, you close the page and move on. In fact, the absence of a payment gateway at checkout is a major cause of shopping cart abandonment. At BrandSource – a 5,000-dealer buying group for independent appliance, furniture and consumer tech dealers – members who employ AVB Marketing's state-of-the-art e-commerce platform can provide their customers with multiple payment options. This gives consumers the flexibility to shop the way they want, and allows for a frictionless transaction that will more readily lead to conversion. BrandSource dealers can offer payment through Amazon Pay, PayPal, major credit cards and BrandSource's own private-label financing through Citi. In fact, thanks to AVB's new "Apply & Buy" program, shoppers can apply for credit at checkout, receive approval in seconds, and immediately enjoy any special financing offers for a true buy-on-the-fly experience. But the advantage of a payment gateway doesn't end there. Online checkout affords the opportunity to attach needed accessories like hoses and installation service, plus other high- margin add-ons like extended warranties. What's more, it allows dealers to capture valuable shopper insights and data, and adjust their e-commerce strategies to drive even more digital sales. The bottom line: Independent dealers should consider adding a payment gateway – along with the full suite of AVB's online selling innovations – if they want to make their shopping sites down- right seamless and achieve payment parity with national chains and e-tailers. Alan Wolf is Senior Communications Specialist for AVB/ BrandSource, the nation's leading merchandising and marketing co-op for independent appliance, consumer tech and home furnishings dealers. B U Y I N G G R O U P N E W S AVB UNVEILS A 'FULL STACK' OF DIGITAL INNOVATIONS FOR INDEPENDENT DEALERS

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