Future of Consumer and Retail

Trends and insights shaping the consumer, retail and payments industries.

Consumers are becoming accustomed to an increasingly omni-channel experience when they shop - being able to engage across a variety of platforms, for getting just about anything they want.

There’s now an expectation from consumers that retailers should know exactly what they need and when across the different channels they use to shop. Businesses need to drive business digital transformation in order to reach customers from anywhere, whilst delivering a consistent experience.

The key to creating that uniform identity across retail channels, relies heavily on the experience a brand creates in-store and online. This is vital for retailers, as the damage caused by poor customer experience doesn't remain isolated to just one channel - in fact, it can have devastating effects across multiple channels.

In 2022 Future of Retail report, Adyen's research found that 70% of consumers would stop shopping with a brand completely if they encountered a bad shopping experience online or in-store.

Consumer statistics

Source: KPMG and Adyen, Retail Report 2022: the shape of ambition

Meeting rapidly changing expectations and keeping your business relevant for the future means thinking from the ground up; what you have on offer, how customers reach you, what their experience looks like and what will make them come back. It’s about bringing together operational digitisation, customer experience and payments technology to drive business growth.

The inextricable link between operational digitisation, customer experience, and growth – and the pivotal role payments technology plays for any business serious about all three.

It’s therefore unsurprising that 94% of businesses surveyed in 2022 planned to invest further in their digital transformation. This year’s Retail Report is a valuable tool for businesses deciding exactly where to focus their resources.

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