By Hayley Bell on 19 Apr 2021
Whether paying for lunch with a credit card or applying for a mortgage, the Financial Services industry affects our everyday lives. As one of the largest and most influential sectors of the U.S. economy, financial corporations and businesses are faced with rising competition and seeking new, innovative ways to stay ahead.
The Financial Services industry is considered one of the top 5 verticals for distributors, and employs approximately 6.5 million Americans. Characterized by skilled individuals, consistent work, and high compensation, a wide range of businesses are represented within this industry, each with distinct roles and responsibilities.
Financial services firms, corporations, and businesses to consider could include:
Commercial and retail banks
Tax and audit consulting
Private equity firms
Other financial services
An overarching trend in the Financial Services industry is that they continue to lead the way in adopting technology. This makes online stores (or online pop-up stores) the perfect approach when providing eCommerce services to this industry. Here are a few of the most common use cases we’ve seen for online stores for the financial services industry:
Employee Appreciation: Reward employees with a holiday store or employee appreciation gifts after a well-deserved quarter or year.
Business Items: Take orders for business cards, client gifts, banners, and other business-related items in limited periods of time to encourage sales and simulate bulk orders.
New Hires: Make it simple for Human Resource reps to outfit new hires with logoed apparel, bags, or other products by creating quarterly online stores for ordering.
Charity Fundraising: Many companies will support a charitable cause. Online stores offer an easy way to offer company-wide donations or sell items with fundraising attached.
Client Gifts: Take client appreciation gifts to the next level by creating a purchase order online store for employees to invite clients to select the appreciation gift they would most like to receive.
Business-professional apparel performed best across financial services stores, followed closely by outerwear, drinkware, and luxury and tech items. Providing professional apparel options for their employees in addition to thoughtful business-appropriate items will help you stand out in your online store offering.
The following products are top-sellers across all online stores for financial services, according to OMG data:
Polos and blouses
Cardigans, vests, and sweaters
Jackets and coats
Tumblers and water bottles
Luxury items: Bluetooth speakers, wireless headphones, smart devices, etc.
Additional products that could be considered for these online stores include:
Backpacks, totes, and duffle bags
Luxury kitchen and cooking items
Laptop or tablet sleeves, tech accessories
Comfy, fashion tees
Client gift options
Business items: padfolios, pens, business cards, etc.
Financial services accounts often have hundreds or thousands of employees across multiple offices, branches, or departments. Online store platforms allow you to easily meet the needs of these clients while keeping fulfillment organized on your end. OMG makes it easy to create excellent customer experiences that will be worth your time and money.
Click on the sample stores below to take a look!
OMG features specifically designed to support online stores for financial services accounts include:
Email Authentication: Control access to an online store by validating an end-consumers email address against a pre-approved email domain. This extra-secure login process ensures that only permitted end-consumers can access a storefront.
Calculated Taxes: Automatically calculate sales tax for each order based on sales tax nexus, product categories, and customer information to simplify online sales. This ensures the correct sales tax is collected on every order, every time with just the click of a button.
White Label: Create unified brand experiences and meet the specific brand requirements your clients may have with OMG’s White Label. Streamline the end consumer’s buying experience with a premium, unified brand voice at every step of the way.
Product Personalization: Gather personalization information with ease, whether it’s department, name, location, or name. OMG offers easy product personalization options, complete with reporting that makes it a breeze to fulfill personalized orders.
Store Deadline: Create urgency to get orders in and maximize sales by setting a store deadline. Not only will this maximize your sales, it will also support you in meeting product minimums, and keeping product order and fulfillment costs low.
Gift Cards: Show appreciation or provide employee incentives with online stores. Encourage gift cards as a way for companies to appreciate or incentivize employees, while giving employees the chance to purchase additional products on their own dime.
OrderMyGear is an industry-leading sales tool, empowering dealers, distributors, decorators, and brands to create custom online pop-up stores to sell branded products and apparel. Since 2008, OMG has been on a mission to simplify the process of selling customized merchandise to groups and improve the ordering experience. With easy-to-use tools, comprehensive reporting, and unmatched support, the OMG platform powers online stores for over 3,000 clients generating more than $1 billion in online sales. Learn more at www.ordermygear.com.
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