With an increase in international online transactions of 115%, Multi-Currency Conversion helped a UK fashion retailer boost sales in just one year.
Chi Chi London is a leading retailer of ladies fashion, specialising in cocktail, prom and evening dresses. It was established over 25 years ago in London and is dedicated to bringing the finest catwalk fashion to the high street at affordable prices. The owners of the company source all the garment material and fabrics themselves and personally supervise the manufacturing process in their factory in China. They pride themselves in their ethical way of working, ensuring their staff, as well as customers, receive the best possible experience.
After analysing their website data, Chi Chi's owners realised they might be able to increase international sales conversions by offering customers the choice to pay in their own currency.
Reassurance and security for customers
“We didn’t want to alienate international customers by offering only British Sterling, so we needed a way to offer multiple currencies,” said Daniel Najar, Owner at Chi Chi London. “As a relatively young international brand, it was important for us to give our overseas customers assurances, so they felt a little more secure when they were buying one of our products.”
Chi Chi was introduced to Elavon through another supplier and wanted to discuss the best way to let international customers choose to pay in their native currencies.
Daniel said, “Elavon understood our challenge immediately and recommended we use its Multi-Currency Conversion [MCC] product. Initially we had a few discussions to set up the first currency but, once that was done, the others were so easy and quick to add. Within a week, we were able to price our garments in various currencies. It was so much faster to set up than I expected.”
With MCC, businesses can pick from over 120 different currencies to offer on their websites. Daniel explained his reason for opting for GBP, USD, AUD and EUR.
“We initially looked at countries that shared the English language, as well as tapping into the 19 European countries paying in euro. We’re now seeing real traction in Europe, the Middle East and Far-East Asia, so we’re not only aiming to add more currencies for these markets, we also want to develop our website into other languages."
Increase efficiency and save time with MCC
The daily reports he receives from Elavon clearly show how much the customer paid in their local currency, according to Daniel. “But most importantly, the settlement amount appears in British Sterling, making it easier for us to reconcile all our accounts. Using MCC makes it easier for us to manage how each country is trading, which removes the need for a treasury manager. It certainly makes us more efficient and saves loads of time.”
Since trading internationally on their website, Chi Chi has started to receive worldwide recognition for its quality evening wear with amazing results.
Daniel summarises, “We’ve had an outstanding year, enjoying a 250% growth in sales and a repeat-buyer rate of about 64%. Customer service is extremely important to us. We want to ensure that our customers feel valued and cared for, so offering a website where they can browse and buy garments in their own currency has been a big contributing factor to our success."
Boost transactions and online conversions
Since introducing Elavon’s Multi-Currency Conversion product to its website, Chi Chi has seen its transactions increase by 115% compared to the previous year, and online conversions have increased by 26%. The most notable uptake is in countries linked to the euro.
“Getting MCC to work was a lot easier than we expected. Working with Elavon has been a breath of fresh air, making the setup effortless from start to finish. They went out of their way to explain the processes involved and got us up and running quickly and smoothly. Their transparent and honest account management demonstrates why Elavon is an award-winning ethical company. This is something we look for in suppliers, as it aligns perfectly with Chi Chi’s own values.”
Multi-Currency Conversion benefits include:
- One website, multiple currencies
- International growth
- Increased click-to-buy ratio
- Improved sales
- More customers
- Fast payment to business accounts
- Transparent reporting - all in one currency
- Enhanced brand perception
See how Multi-Currency Conversion works on the Chi Chi website: