By ET Bureau - June 12, 2019 3 Mins Read
Adyen Study Reveals That Unified Commerce Represents a $1.2 Trillion Opportunity in North America
With more options for shopping than ever before, consumers aren’t just replacing one method for another, they’re shopping everywhere. A new study from Adyen, the global payments platform of choice for many of the world’s leading companies, in partnership with 451 Research, reveals that the most important thing shoppers prioritize is convenience in North America.
As the lines between physical and digital shopping experiences continue to blur, consumers are asking more from retailers. In North America alone, 84% of retailers have seen a rise in consumer expectations. To avoid leaving significant revenue on the table, retailers must embrace a unified commerce strategy to create a cohesive shopping journey across sales channels.
“Unified commerce represents a $1.2 trillion opportunity,” said Kamran Zaki, president, Adyen North America. “To entice customers, especially at check out, the most intimate shopping moment, retailers must prioritize creating a seamless experience so customers can shop wherever, whenever, and with whichever payment method they want.”
Consumers are shopping everywhere and early adopters are making multi-channel purchases.
Of the more than 1,500 consumers surveyed across North America, respondents didn’t have an overwhelming preference to shop online or in-store and they’re shopping across multiple channels.
Consumers value convenience above everything.
Convenience would sway consumers to shop at one retailer over another, above any other category, if merchandise and price were the same. With the added convenience of cross-channel shopping, consumers are making additional purchases.
If the experience isn’t seamless, they’ll walk away.
Negative shopping experiences cause $887 billion in abandoned sales annually. Consumers want to shop how, when and with the logistics (payment, shipping, return) methods they want.
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