"Since we moved to Ingenico, our sales conversion has definitely increased, and the best thing is that this is only the start."
Reggie Johal, Founder
Predator Nutrition is one of the largest supplement companies in the UK today, with a commitment to innovation, information and excellence in fitness and supplementation. The company was established in 2009 by British entrepreneur, Reggie Johal, who observed a growing demand from fitness fanatics for nutritional supplements to boost their fitness levels and performance.
A former top-level American footballer in the UK, Johal decided to quit his job at Deloitte and take a new entrepreneurial path, armed with just £6,000 of personal savings. The company quickly grew a loyal following but needed a payment provider that could help it deal with declined transactions and grow internationally.
Predator Nutrition looked at a number of payment providers and ultimately felt that for its type of customer and product, Ingenico was the best fit to help it compete in a competitive market, which Euromonitor International estimates was worth almost £800m last year – more than double the £350m recorded during the London Olympic year of 2012.
“Although the market has grown, most of our rivals actually seem to have disappeared or shrunk to a tenth of their original size,” explains Johal. “What’s happening in the UK industry right now is a lot of consolidation, where the manufacturers are selling directly to consumers, or Amazon are coming in and taking away a lot of business.”
Predator Nutrition also noticed that it was being hindered by a substantial number of transaction declines, all of which came with the vague “DO NOT HONOUR” message from its payments provider. “We could see that customers were trying twice, three times, four, five, six times! They wanted to shop with us, but our payment gateway was turning them away for reasons we just couldn’t understand,” says Johal.
“Since we moved to Ingenico, our sales conversion has definitely increased,” says Johal, “and the best thing is that this is only the start. Later this year, we hope to work with our ecommerce platform provider to build our international websites. We will then need the additional payment methods Ingenico can provide, so that we can convert more traffic into more sales across these markets.”
In the last 12 months, Predator Nutrition estimates that its UK conversions have grown by around 20%, and the company has noticed a drastic reduction in complaints that staff face from customers having their transactions declined. In the same period, the business has also seen revenue growth of over 100% in the United States, Sweden and Italy, among others. Currently, 40% of the company’s revenue comes from outside the UK, but a multi-currency option would provide the opportunity to increase this further.
“Next for us is further growth throughout Europe and the US, where we’ve identified more opportunities to offer products that customers in those regions typically can’t find elsewhere,” adds Johal. “That’s an opportunity for us as we aim to grow our business by at least a third over the next year. As entrepreneurs, we never rest; already I’m developing a cosmetics business that we believe we can turn into an international success. As and when we take this to market, it’s fantastic to know that experts like Ingenico are available and committed to helping us grow, both at home and abroad.”