Adyen’s latest research shows creating immersive multi-channel consumer experiences has a huge impact on loyalty, near- and long-term revenue for APAC retailers

SINGAPORE - Media OutReach - 6 August 2019 - Adyen, the payments platform of choice for many of the world's leadingcompanies, today released new research commissioned from 451 Research, on thestate of the APAC retail industry. By prioritizing frictionless digitalshopping experiences for customers, retailers in the region can realize aUS$250 billion lift in sales. Retailers who choose not to adopt unifiedcommerce can expect losses of up to US$785 billion dollars.

Warren Hayashi, President, Adyen, Asia-Pacific

"Unified commerce is now the competitive edge that retailers must havein order to succeed in a digitally transformed retail industry. Especially inAsia-Pacific, customers have high standards for a frictionless shoppingexperience. They expect to be able to shop in the way that they prefer.Anything less than a frictionless experience will result in them abandoningtheir purchases", said Warren Hayashi, President, Adyen, Asia-Pacific.

Consumers are making purchases across multiplechannels.

Of more than 1,000 consumers surveyed across AsiaPacific, respondents did not indicate an overwhelming preference for shoppingonline or in-store.  Instead, they areincreasingly making multi-channelpurchases.

• 42%of consumers prefer to shop in a physical store, while 29% prefer digitalshopping channels.
• 58%of consumers made a purchase as a direct result of aretailer offering a cross-channel buying option in the past six months.
• APAC retailers are continuing to expect more than a third of sales to beonline within three years, up from roughly a fourth today.

The move towards digital transformation in retail experiences has increasedthe importance of making frictionless digital shopping experiences a priorityfor consumers. However, many companies have been slow to act or are unsure howto proceed with their digital journeys due to several friction points such aslack of preferred payment options to out-of-stock.  This has resulted in an average loss of aboutUS$75 billion to US$149 billion within the APAC region.

Consumers value personalized shoppingexperiences.

Personalized intelligence is essential tofostering a positive and memorable shopping experience where customers are morelikely to grow in brand love and loyalty.

• 48% of consumers use social media to shop; while only 20% of consumers makepurchases on social media. This shows that there is opportunity for retailersto leverage social touchpoints to convert shoppers into buyers.
• Three in five shoppers made at leastone additional purchase due to a personalized offer they received in the pastsix months. Personalized shopping experiences exert a positive influence overcustomer purchasing behavior.

Consumers expect to have frictionless check-out processes with theirpreferred mode of payment.

Poor shopping experiences cause US$86billion in initially abandoned sales annually. Consumers want to be able toshop how and when they want with the payment methods they prefer. 

• One in two shoppers have been unable to use their preferred paymentmethod with a retailer in-store, prompting them to abandon their purchaseentirely.
• One in two shoppers abandon a purchase at the payment stage due tolengthy payment forms that require manual data entry which are the biggestcontributor to online checkout friction.
• 60% of consumers in Singapore and Hong Kong in particular, showed anabove average amount of online purchase abandonment due to lack of preferredpayment options.

Formore information and for a copy of the report, visit the URL HERE.

Notes to editors

About the research

In Q1 2019, 451 Research surveyed 1,211 consumersaged 18 and above across three strategic business bases in APAC, Australia,Hong Kong and Singapore, as part of a broader global survey of 5,950 consumers.Simultaneously a survey with 600 B2C retailers operating in the same countrieswas conducted. Like the consumer survey, the APAC retailer survey was part of abroader global survey that included 2,554 B2C retailers.

About Adyen

Adyen(AMS: ADYEN) is the payments platform of choice for many of the world's leadingcompanies, providing a modern end-to-end infrastructure connecting directly toVisa, Mastercard, and consumers' globally preferred payment methods. Adyendelivers frictionless payments across online, mobile, and in-store channels.With offices across the world, Adyen serves customers including Facebook, Uber,Spotify, Singapore Airlines, Cathay Pacific, Grab, Klook, Lorna Jane,Freelancer.com, Kogan.com and the Cotton On Group.