We’ve all been on an epic journey over the past few months. Businesses around the world have faced huge challenges and fought hard to survive against difficult odds. And while the story isn’t over yet, we’re ready to enter the next chapter of retail recovery. Here, we’ll take what we’ve learned and prepare for whatever comes next.
The key is flexibility. It’s impossible to know how the pandemic and its repercussions will evolve across the globe. Businesses must equip themselves with the tools that allow them to respond fast. And payments technology plays an important role. With a unified commerce partner, you’ll be able to centralize the management of payments across all channels and regions. You’ll have the flexibility to open new sales channels and roll-out new customer journeys quickly and at scale. And you’ll benefit from a unified view of your customers, which you can use to personalize your services and build loyalty.
At Adyen, our focus is, and always has been, on long-term, sustainable growth. We’re committed to ensuring our customers can adapt to market conditions and consumer needs. So you can continue to serve your customers in the best ways possible, no matter what.
Did you love this?
To receive notifications when we release more content like this, sign up for our newsletter today.
Ready to chat?
We’d love the opportunity to discuss the topics raised in this report and explore how we can help your business.
Research methodology:
This report contains data from three parties. Business and market analysis was conducted by the CEBR, data from Adyen’s platform, and a consumer survey conducted by Opinium Research LLP.
Business and market analysis:
Economic analysis was commissioned by Adyen and conducted by the Centre for Economics and Business Research Ltd (CEBR) in July 2020. Cebr used data collected from a range of sources, including Eurostat, the Organisation for Economic Co-operation and Development (OECD), The World Bank, and national statistics bodies to identify structural characteristics of the retail and food services sectors. It then used data from UNCTAD and Eurostat to establish a causal relationship via regression analysis between measures of unified commerce and the relative falls in sector turnover, meanwhile controlling for the stringency of each country’s lockdown. Having established such relationships, cebr was then able to provide quantitative estimates for the effect of such variables on turnover in both the retail and food services sectors. The results presented in this report are all statistically significant.
About the Adyen data:
Adyen has followed shopper trends for ecommerce and POS through its payments platform with a focus on the factors that influence spend and loyalty. All data is processed in accordance with GDPR regulations such that individual transactions are anonymized and data aggregated so as to remove the identification of any individual payment. This analysis compares unified commerce performance in Q1 2019 with Q1 2020. Data was weighted to factor in Adyen’s platform growth.
Consumer survey:
This research was commissioned by Adyen and conducted by Opinium Research LLP from 1 – 15 July 2020. 25,157 consumers participated in the research, from the following countries: Australia (2,013), Belgium (1,000), Brazil (2,000), Denmark (1,044), France (2,017), Germany (2,013), Hong Kong (1,000), Italy (2,000), the Netherlands (1,001), Norway (1,025), Poland (2,006), Singapore (1,022), Spain (2,000), Sweden (1,000), UK (2,032) and US (2,014). 48.6% of respondents were male and 51.4% female, 25.5% were aged between 18-34, 35.5% were aged between 35-54, and 39% aged 55 and over. Results were weighted to be nationally representative of geographic location. The research was conducted online in the local language for each country. Respondents were incentivized to participate in compliance with ESOMAR guidelines.