SPLITIT LTD (Company) Objectives The Risk, Audit and Governance Committee (Committee) has been established by the board of directors (Board) of the Company pursuant to article 47 of the Company’s articles of association. The Committee’s primary objective is, in
*Sales statistic refers to the 3 months surrounding the holiday season
“I especially enjoy working with Matt, our customer success representative as he makes an extra effort to check in and care about our business. He continuously makes sure that our website is optimized for the best customer journey, and shares actionable ideas for us to grow and improve. It’s really amazing to have that kind of relationship and resources at hand.”
Splitit Surpasses MiStore Expectations in Portugal
Q&A with Ricardo Ferreira, CEO of Select Smart LTD
Q. Can you tell us about MiStore Portugal?
A. MiStore Portugal is the official reseller of Xiaomi in Portugal. The Xiaomi brand is known around the world for electronics: smartphones, mobile apps, laptops, home appliances, consumer electronics, and more. We opened our online store last year, just as the pandemic hit and we were forced to close 9 of our brick and mortar stores. In Portugal, online shopping is generally lower than the rest of Europe, at around 9%, although it has risen since COVID-19 to around 20%.
Our “MiFans” (aka MiStore’s loyal community members) encouraged the idea of an online store, and it has been a successful launch.
Q. Why did you decide to partner with Splitit?
A. We knew we wanted to offer our MiFans an alternative way to pay with the uncertainty of the pandemic looming. With Splitit we are able to offer a pay over time option that does not put a limit on our average order values (AOV). This is important for our higher ticket items. Once Splitit was integrated into our checkout process, it has been smooth sailing and the Splitit Team has been a great support from start to finish.
Q. How is Splitit helping you grow your business?
A. Splitit has definitely surpassed our expectations. Our local Portugese customers have adopted this solution faster than anticipated, online and in our physical locations as well. Our sales people love Splitit because it boosts their closing pitch. It’s simple to explain and it works instantly, as long as the shopper has the available credit limit of the full purchase price. Also, Splitit’s customer support and success team is excellent. They have quick response times and are always very thorough in providing assistance to our customers and our team.
We have worked very hard to curate the best customer journey on our website and make sure Splitit is prevalent throughout the full shopping experience. Since integrating Splitit in November 2020, which perfectly synced with the holiday sales season, our business has also seen major growth in the following 3 months. We have more than doubled our conversion rate, our sales have grown over 200% since November, and 14% of our total shoppers choose to pay with Splitit.