Retailers 'missing out'


20-09-2001

Big name retailers are missing out on the global market.

Cambridge-based WorldPay, the company that looks after payment transactions for internet shopping, says retailers, including Laura Ashley, Nine West, Tag Heurer, and Gap, are failing to reach the full global marketplace.



In a survey of 200 leading retailers, WorldPay found only 62 per cent had an online store, only three per cent offered multi-currency payment facilities, fewer than one in five offered international delivery, and only a quarter were prepared to do business in more than one language.



Nick Ogden, WorldPay founder and boss, said: 'Global brand recognition and the opportunity to sell to a global market via the internet is a fantastic business opportunity, but the majority of these retailers seem to be missing out.



'It is disappointing that firms who spend millions on physical stores and beautiful web sites ignore the internet as a global revenue generator.



'Without multi-currency payment options, multilingual capabilities, plus international delivery, retailers are ignoring millions of potential overseas shoppers.'



WorldPay handles 120 currencies, is multi-lingual and has records of shoppers in 200 countries.