This could be the future of retail because of these trends

  • Recovery from retail industry Post-pandemic, this is moving slowly as new threats stalk the sector.

Both retailers and consumers are facing cuts supply chainsrising energy costs and geopolitical uncertainty.

For that reason Navigating this new reality can be difficult, But the right strategies will help minimize risks and maximize opportunities.

To explore the current opportunities, priorities, challenges and threats related to e-commerceCheckOut, a payment service provider for European e-commerce companies, interviewed 3,000 consumers in Spain, Portugal and Greece.

The provider compared the survey data with its own experience in southern Europe and identified four trends that are likely to define it the future of retailers in this region in the next few months.

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Trends that will define retail in the future

Depending on the supplier, factors such as price increases, purchasing adjustments, competition or cyber securitythey could be the keys that will shape the future of the e-commerce and retail sector in the future.

  • Rising prices affect purchasing habits: 37% of consumers in Southern Europe are more likely to shop online rather than in physical stores to identify cheaper options and deals.
  • Customers are looking for personalized shopping experiences: 28% of consumers in Southern Europe expect to see more personalized content when shopping online or via an app.

  • The competitive environment has never been as tough as it is today: More than 50% of consumers in Southern Europe consider free shipping and returns essential when shopping online.
  • Consumers are aware of online security: 76% of consumers in Southern Europe say that two-factor authentication makes them feel their payments are safer and better protected.

Although consumers are spending more cautiously, they are also spending they feel more comfortable when shopping online. You can still maximize your sales by offering loyalty and rewards programs and one-time offers that are top of mind for consumers right now because the bargain drives their immediate behavior.

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