Convenience is what North American shoppers desire most, according to a June study from Adyen, an end-to-end payments platform servicing customers such as Facebook, Uber, Spotify and Bonobos.
The research is conducted in partnership with research firm 451 Research and included more than 1,500 North American consumers in the first quarter of 2019.
Representing a $1.2 trillion opportunity, unified commerce is what executives such as Kamran Zaki, president at Adyen North America, are championing for retailers to prioritize as customer expectations continue to rise.
Consumers will walk away, abandoning their carts in the event of negative experiences. Nearly nine in 10 consumers have abandoned an in-store purchase because their desired item was out of stock, with long lines being another cited complaint.
As for online, “32 percent prefer online shopping for almost anything,” whereas still 37 percent of consumers prefer to shop in a physical store. The growing dispersion of multichannel shopping behavior means web, mobile, smart speakers and social networks are of interest to retailers.
Across channels, a majority of consumers, or 60 percent would choose the retailer that offered a “convenient shopping experience across online and in-store.” That is the status today, wherein cross-channel buying must alleviate headaches and match expectation, allowing fast and convenient payment options, better shipping and returns, no lines and even self-service checkout options.
If a seamless experience isn’t there, then the risk is a consumer trading allegiance and walking away to the tune of $887 billion in abandoned sales annually, as the data informs.