Looks like the shift to e-commerce is here to stay
Ecommerce News has found that 3 in 4 European consumers (74%) will stick to their pandemic online shopping levels. that means they won’t reduce their e-commerce activities now they can shop offline again.
During the lockdowns of 2020, 96% of consumers in Europe shopped online. That’s up from 60% one year earlier.
This is shown in ‘the New State of Retail‘, a report from Checkout.com, among over 10,000 consumers and 500 online retailers. One of the key findings is that 43% of retailers said they weren’t prepared for last year’s surge in cross-border payments across Europe. They didn’t have the necessary payment methods in place to capture the demand from new markets within Europe. This resulted in lost revenue.
Meanwhile, 80% of consumers expect to pay using new payment methods such as Buy Now Pay Later, crypto, and digital wallets. And 30% say they now actively want to try new payment methods based on their digital payment experiences last year. One in eight consumers used a new digital payment method for the first time.
The report also takes a look at opportunities for online retailers. Laser-localized payments should lead to an optimized revenue, but there are still some localization performance pain points. For instance, 74% of online retailers don’t offer all payment pages in the local language. And two in three don’t offer local payment methods in every country they serve.
We’ve reported that JD.com and Walmart launched new omnichannel marketing model.