Case Study: Revolve
Case Study: Revolve
When Mike Karanikolas and Michael Mente founded Revolve Clothing in Los Angeles in 2003, the goal of these friends was to offer unique, boutique-style finds to an audience on a global scale. Today, Revolve sells hundreds of millions of dollars of product to a loyal base of fashion-savvy consumers all around the world. Speed and automation are at the core of the company’s approach. As Revolve’s value proposition grows globally, their focus on creating a seamless buying experience is key to their success, particularly in all of the countries where a loyal fan base is still growing. In order to guarantee this seamless experience, Revolve came to Reach for help competing on the global stage and ensuring that their customers would have the most positive ecommerce experience possible.
Revolve was processing all global transactions through a US bank and using a currency converter on its site to allow shoppers to view prices in their local currency:
- Because Revolve only had a US entity, all cross-border credit cards were being processed through a US bank. This led to additional processing fees and lower credit card approval rates.
- Although global customers wanted to pay in their local currency, they were being hit by international transaction fees and currency conversion fees.
- Revolve was looking for a global fraud team to partner with their existing fraud team, help mitigate their risk, and increase global sales.
“Our global customers are critical to our growth. Working with Reach helped us localize our checkout to provide a frictionless buying experience with no penalties for the end consumer. We have seen a decrease of over 20% in global processing fees, and we work with Reach as a strategic partner to help continuously evolve our global consumer experience and internal money management processes.”
Kai Li, VP of International at Revolve
Revolve chose the Reach Global Payments Platform to easily present and process in their global shopper’s preferred payment method and local currency. Doing so increased consumer confidence and eliminated currency conversion fees and foreign transaction fees that customers had previously incurred. When processing local to the consumer, approval rates significantly increased and the cost of processing was lowered. The Reach Global Fraud Team provided real-time analysis of Revolve’s data to ensure fraud tools and customer communication were optimized to decrease chargebacks and improve customer experience.
What are the results of moving to Reach? Higher conversion rates, lower fees, and happier customers.
The approval rate increase shown above represents the true uplift in sales after switching to Reach.
Reach helps online retailers succeed.
Be Relevant. Reach helps retailers increase global sales by providing local connections to the global
payments core. Our comprehensive platform designed specifically for retailers simplifies and accelerates the retailer global journey by providing local payments connections, transactional FX tools, and fully managed global fraud solutions. For more information about Reach please visit www.withreach.com