The Chinese market holds untapped potential for UK businesses; in 2017 alone, Chinese tourists spent nearly £700 million in the UK. Research has revealed the power of “Brand Britain”, with two thirds of Chinese citizens saying they would be very likely to purchase goods from British companies. Yet despite this, many businesses are still reluctant or unaware of how to pursue a retail strategy in China.
As the official partners of both WeChat Pay and Alipay, JGOO’s solution is leading the way for British retailers to cater for Chinese customers’ preferred method of payment while shopping in the UK and online.
UK brands have already reaped the benefits of JGOO’s full-service retail suite and turned the potential of the Chinese market into greater revenues. Bubble tea retailer T4 increased its sales revenue in the UK by 66% across a single quarter; with revenue almost doubling month on month over a four-month period.
JGOO’s mission is to lead the mobile-payments revolution, tapping into the growing trend of combining social media and mobile payments. JGOO’s offerings extend beyond payments alone, enabling brands to increase their visibility in China through targeted marketing on the WeChat platform.
Family owned educational institute Major Oak Education, which already had strong routes in China prior to becoming a JGOO client, has also seen a significant jump in sales since the set-up of JGOO’s marketing solution. This included the creation and advanced integration of a mobile-optimized shop on WeChat - the “one-stop-shop” for millions of Chinese consumers.
Richard Morecroft, Director and Co-Founder of JGOO said, “Enabling British retailers to tap into the multi-billion pound Chinese market is just the first step for JGOO. Our mission is to lead the mobile-payments revolution taking place across the globe and help UK businesses reach customers everywhere in the world. With Facebook announcing its plans to drive a global expansion of mobile payments on WhatsApp, we’re already seeing social media and mobile payments converge. This trend is only going to accelerate. British businesses should be taking advantage of this, and JGOO is here to enable it.”
Already supporting retailers across the UK, JGOO’s next step will be to expand across Europe, the Middle East and North America, enabling the future cashless society.
JGOO is a subsidiary of the British fintech group R8 Limited. Established by Redwood Bank co-founder Jonathan Rowland, R8 is building the modern financial services needed to support the growing decentralised economy. Prominent backers include Twitter co-founder Biz Stone, who sits on the board as a non-executive director.
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