Global payments are getting much easier for customers to transact with retailers overseas. The advent of new technologies in the checkout experience such as Apple Pay and Amazon Pay is becoming more prominent as shoppers get more comfortable with mobile commerce. Here are some of the latest trends in global payments and how they are impacting the retail landscape.
Today’s shoppers increasingly are digital natives, which means they prefer technology-based solutions and hold high expectations when it comes to the end-user experience. In fact, recent market research found that 86% of shoppers are willing to pay more for a better customer experience.
Gone are the days when buyers relied exclusively on cash, checks and credit cards to conduct financial transactions. Today, digital transformation and next-gen technology are dramatically transforming payment methods, processes and systems.
GNC announced plans to close 900 stores or about half of its total portfolio, with a focus on underperforming mall locations, part of the overall trend of thousands of store closures as fewer people hit the doors with ecommerce growing.
Total back-to-school spending is expected to reach $80.7 billion, down from $82.7 billion last year, according to The National Retail Federation’s annual survey. Here is what retailers can expect from shoppers this school season.
As the world of commerce becomes increasingly omnichannel, the boundaries that once clearly separated ecommerce markets have begun to fade away. Whereas a brand might have traditionally kept business-to-business (B2B) sales and business-to-consumer (B2C) sales in siloes, today’s connected commerce experiences have created a new selling environment: B2B2C.
The multichannel, digital marketplace thrives on speed, convenience and ease of use. We’re always striving to remove friction and make processes faster and more efficient. One way to achieve this includes streamlining how we conduct payments.
Prime Day saw 175 million items purchased by Prime members over the two days, according to Amazon, eclipsing its 2018 Black Friday and Cyber Monday sales combined, while analysts pegged total GMV at $6 billion to $6.2 billion. See what other interesting statistics we found to paint a picture of the concocted “Christmas in July.”
Large U.S. retailers over $1 billion saw a nice Prime Day bump on July 15 according to data from Adobe Analytics, with a 64% increase in sales vs. a typical Monday, up from 54% last year. Smaller retailers under $5 million, meanwhile, realized a smaller 30% sales lift, Adobe said. Meanwhile, some checkout glitches recurred this year.
Bolt, a San Francisco-based ecommerce checkout startup that aims to give ecommerce and DTC companies an Amazon-like experience at the bottom of the funnel, has raised $68 million in a Series B round, bringing its total venture raise to $90 million.