In the present research study three SMART objectives are prepared for Primark. With respect to effective implementation of these objectives some recommendations are given which will assist firm in generating customers and retaining them for long term in the business. Apart from this, ways in which effectiveness of these recommendations can be evaluated is explained briefly in the report.
SMART objective 1
To increase sales by adding online purchase payment page on company website which will elevate Primark revenue by 25% by end of the year.
In the current time period brick and click model is helping firms a lot in increasing revenue in the business. Addition of payment page will help Primark to generate revenue from online platform also. Many firms like Hubble and Blue Apron etc. are completely doing business online, and every year earned million of profit. Hence, by taking business on online platform Primark can accelerate its business revenue.
• Development of own payment page: It is recommended that Primark should develop its own payment page because if it is taking service of any other company then in that case it have to pay charges to that company which will lead to decline in the company profit. The annual payment to company like PayPal may be high. Hence, development of own page will be the better option.
• Contacting companies like Paypal to accept payment on behalf of company: Initially Primark will establish contact with companies like PayPal to accept payment on the company’s behalf (Top 10 business advantages of accepting payments online., 2018.). On a side line Primark will also develop its own page and once it works fine entire traffic will be shifted to company payment page.
In order to evaluate the efficiency of the company payment page every day specific portion of online traffic will be directed to the company payment page and success as well as failure rate will be measured. If page gives good performance, then entire traffic will be sent to the company page in the upcoming time period.
On the basis of above discussion, it is concluded that through online platform also substantial amount of sales can be generated. In this regard multiple efforts need to be made like payment page need to be developed and payment can be accepted either by company system or other company. Chatbot and F&Q feature must be available so that on time customers queries can be solved and they can be motivated to make purchase online from company website.
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Top 10 business advantages of accepting payments online., 2018. [Online]. Available through:< https://www.invoicera.com/blog/top-10-business-advantages-of-accepting-payments-online/>. [Accessed on 22nd March 2020].