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News Article

The Future of Commerce Needs a Unified Experience: Adyen

By Sofía Hanna | Thu, 07/14/2022 - 15:52

Financial technology platform Adyen just shared the “Retail in Mexico and the world” study, during a press conference, discussing how the digital transformation unified commerce, the new keys to success, the role of “phygital” stores, and the relevance of payment data. Ayden also highlighted the success story of Reservamos, an e-commerce platform for buses. 

 

“Companies in 2022 are optimistic and they should be. We have to be challenged because that’s the only way we will get to the next level and even more so by doing partnerships as we did with Reservamos,” said Erick MacKinney, Country Manager, Adyen México, during the press conference announcing the study. Ayden identified the four main factors transforming commerce, which are influenced by customer expectations.

 

The first is the sector’s digital transformation. Globally, 94 percent of companies are planning to invest in technology during the remainder of 2022. If this accelerated technology adoption is carried out correctly, the retail sector could add 4.7 percent to its growth rate over the next five years. In Mexico, 57 percent of surveyed customers said that retailers took too long to adopt new technologies.

 

“Technology has to permeate all areas of the company, even in the physical stores,” said Elisa Fuentes Mercado, Enterprise Sales, Adyen. This is essential because 66 percent of customers believe that retailers should use technology in their physical stores to improve the experience they offer.

 

Adyen

 

The second involves providing a unified commerce experience that incorporates technological tools, which brings benefits that go beyond those observed with the omnichannel model. “Customers are becoming more demanding and this increases the likelihood of losing them if the experience is not excellent,” said Fuentes. Ayden’s study shows that globally, providing a unified commerce experience increases the performance of companies by 9 percent.

 

The third trend involves the role of stores in a phygital world. Today, the lines between the online and offline world must disappear to offer a complete experience and technology should be seen as a catalyst to encourage people to go to physical stores, said Fuentes. Ayden’s study found that 59 percent of customers agree that physical stores should be exciting places to visit. 

 

Finally, payment data has become the key to improving shopping experiences. According to Adyen data, 47 percent of consumers globally prefer retailers that use their data to personalize their experience. Adrian Cuadros, Co-founder, Reservamos, explained how the partnership between both companies has generated the best digital user experience.  

Sofía Hanna Sofía Hanna Journalist and Industry Analyst