6. El reto del comercio
moderno
Digital
Delivery
Data
development
AI/ Connected
Home/IoT
Other
Businessess
Experimental
Retail
Experience
F2F
Experience
Wallets
Other
applications
Virtual
Card
Schemes
Cash
Private
Wallets
Alt
Payments
Crypto
Real
Time
Payments
Consumer
BNPL
La evolución de la captura de pagos, los
tipos y la experiencia general del
consumidor se ha ampliado en los últimos 5
años. Se ha creado un ecosistema más
complejo para que los comerciantes
cumplan con todos los elementos posibles
para atraer y retener a los clientes.
Today, the most critical part of the shopping experience is payment.
And specifically, the digital payment acceptance process
• A recent study from the Baymard Institute showed circa 7 out of every 10 shoppers
abandon their cart at the point of checkout and won’t complete their transaction.1
• 2 out of 3 consumers express frustration with online purchasing.2
• Each year $97.8 billion of sales are put at risk due to checkout friction.3
The payment stage of the journey is more crucial than ever before.
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Sources
1. https://baymard.com/research/checkout-usability
2. Global Payment Innovation Trends, yStats, 2019
3. https://www.pymnts.com/checkout-conversion-index-archives/
Digital commerce presents not only huge opportunities, but also a particular set of challenges:
• The cost of fraud as a % of eCommerce revenue across Latin America has risen sharply as new fraud threats emerge.
1% of eCommerce revenue in 2019, up to 11% in 2022.
• The cost of operations is rising, driven by the need to adopt new payment methods, manage chargebacks, and the cost of storing data.
• Conversion of customers is lower in digital channels than in-person in-store.
————————————————————————————————
Sources
1. Gibson Dunn, “U.S. Cybersecurity and data privacy council outlook and review,” Jan. 28, 2021
2. PPRO Latin America Payments and e-commerce report 2021
But here’s the thing – done correctly, payments don’t have to be a challenge.
Instead, they can become a competitive advantage.
On the following slides we’re going to share with you the trends driving digital commerce right now.
How businesses are responding.
And the payments technologies that organisations can – and should – be looking at to ensure they are
ready to make the most of the opportunities that digital commerce will bring.
We’ve identified 5 key trends driving digital commerce right now.
The first two are driven by rising consumer expectations.
Shoppers are increasingly expecting a stellar user experience, with shoppers rapidly abandoning
their carts if their preferred payment methods are not there.
They are also expecting seamlessly omnichannel journeys to fit around their lives.
We’ve identified 5 key trends driving digital commerce right now.
The first two are driven by rising consumer expectations.
Shoppers are increasingly expecting a stellar user experience, with shoppers rapidly abandoning
their carts if their preferred payment methods are not there.
They are also expecting seamlessly omnichannel journeys to fit around their lives.
And as consumers are changing the way they shop and pay, merchants are rethinking how they deliver
frictionless omnichannel buying experiences – with expanded touchpoints, ubiquitous purchase moments
outside the traditional structure of retail, and new digital buying experiences and products.
Let’s look at each of these in more detail.
Across Latin America and the Caribbean, customers are already beginning to expect innovative payment experiences.
These include:
[Read out and explain each one].
*****IF YOU CAN PROVIDE MORE DETAIL ABOUT EACH OF THE 6 PAYMENT EXPERIENCES, AND PERHAPS AN EXAMPLE FOR EACH, WE CAN INCLUDE THIS IN THE SPEAKER NOTES
*****
But here’s the thing – done correctly, payments don’t have to be a challenge.
Instead, they can become a competitive advantage.
On the following slides we’re going to share with you the trends driving digital commerce right now.
How businesses are responding.
And the payments technologies that organisations can – and should – be looking at to ensure they are
ready to make the most of the opportunities that digital commerce will bring.
Omnichannel journeys are improving all the time thanks to mobile payment technology, making digital payments possible in both online and offline channels.
Emerging technology includes solutions such as VTap to Phone, which is enabling sellers to turn their smartphones into contactless POS terminals – so they can accept digital payments anywhere.
This isn’t people paying from their phones. This is people accepting payments from their phone. Payments from cards and Card-not-present payments, too.
Consumers are shopping across the whole digital landscape.
As the pace of digital commerce accelerates, new channels to buy items are emerging rapidly.
The phenomenon goes beyond the number of channels, into the types of channels as well.
Consumers expect shopping touchpoints that are embedded within their social lives and community.
Expanded touchpoint include social commerce – also known as live-stream shopping
One interesting example is eCommerce marketplace Shopee, who has brought live-stream commerce to the masses in Southeast Asia.
Millions of shoppers buy based on influencer recommendations, engaging with key opinion leaders in real-time.
In Q1 2020, the number of hours streamed on ShopeeLive increased by 200%, with 120 million views from Indonesia alone in April.
Another example is organized community group buys
Online grocery retailer PinDuoDuo has revolutionised social commerce through a newly organized group buy mechanism, which gives consumers discounts for ‘pooling’ their orders with a group.
Since then, the group buy concept has been adopted by other regional retailers like Lazada and WeBUY.
What are the implication for businesses?
Today all sellers must go even beyond omnichannel, and be present wherever your consumers — and their social networks — are.
Linked to the expansion of shopping touchpoints, shopping is now a natural extension of everyday routines.
Planned shopping moments are increasingly fading, as consumers shift towards on-demand applications and services.
They expect to buy and receive items whenever they want.
Everywhere purchase moments include time while watching and gaming
Brands are offering more ways to shop as you watch
American TV network NBC launched ShoppableTV where viewers can purchase products they see on TV shows real-time,
resulting in an average conversion rate that’s 30% higher than the eCommerce industry benchmark.
Brands are entering the gaming space with purchase opportunities
Fast food giant KFC partnered with Fortnite, a popular video game, to provide in-game discounts that players can redeem
right away for their next meal. Following the popularity of e-gaming, KFC has gone on to expand their video-game remit globally,
even releasing skins and a dating simulator.
QR codes, too
It’s also possible for brands to place QR codes on TV or YouTube presentations, enabling even more and simpler ways for instant purchases.
What is the implication for businesses?
Retail is no longer just purpose-built. The right offer needs to be presented to consumers at just the right moment to cut through the noise.
Everywhere purchase moments are being enabled by new and innovative secure payment technology.
This includes technology such as facial recognition for digital sales.
For example, there is a unique API-based solution — currently only in Brasil, that allows customers
to take a picture, frame their face and go through security without having to find their card and tap in all the numbers.
As shoppers spend more time online, new digital buying experiences and brand-new digital-only goods are emerging.
More and more businesses are innovating on their products’ digital attributes, not just the physical.
They are experimenting with digital-only products to break into new segments and get closer to their customers.
For example
Beauty retailer Sephora has made it so much easier to try on cosmetics online, with an augmented reality Virtual Artist experience.
This feature has resulted in conversion without customers even entering a store, achieving 48% increase in overall traffic.
To make the grand slam more accessible globally, the Australian Open was held simultaneously in-person & in the metaverse.
In the virtual arena, users can play games, access exclusive meetups and buy NFTs of digital wearables & collectables that
are linked to live match data.
What is the challenge for businesses?
Creating successful buying experiences using digital-only attributes will require us to really understand this new type of digital buyer.
We will also need to generate a safer and more efficient shopping experience for this new profile.
More and more businesses are innovating on their products’ digital attributes, not just the physical.
They are experimenting with digital-only products to break into new segments and get closer to their customers.
For example
Beauty retailer Sephora has made it so much easier to try on cosmetics online, with an augmented reality Virtual Artist experience.
This feature has resulted in conversion without customers even entering a store, achieving 48% increase in overall traffic.
To make the grand slam more accessible globally, the Australian Open was held simultaneously in-person & in the metaverse.
In the virtual arena, users can play games, access exclusive meetups and buy NFTs of digital wearables & collectables that
are linked to live match data.
What is the challenge for businesses?
Creating successful buying experiences using digital-only attributes will require us to really understand this new type of digital buyer.
We will also need to generate a safer and more efficient shopping experience for this new profile.
More and more businesses are innovating on their products’ digital attributes, not just the physical.
They are experimenting with digital-only products to break into new segments and get closer to their customers.
For example
Beauty retailer Sephora has made it so much easier to try on cosmetics online, with an augmented reality Virtual Artist experience.
This feature has resulted in conversion without customers even entering a store, achieving 48% increase in overall traffic.
To make the grand slam more accessible globally, the Australian Open was held simultaneously in-person & in the metaverse.
In the virtual arena, users can play games, access exclusive meetups and buy NFTs of digital wearables & collectables that
are linked to live match data.
What is the challenge for businesses?
Creating successful buying experiences using digital-only attributes will require us to really understand this new type of digital buyer.
We will also need to generate a safer and more efficient shopping experience for this new profile.