Signifyd lance son rapport « Le commerce en Europe en 2023 »

PARIS–( BUSINESS WIRE )–The last two years have not been easy for the retail trade and the last half of 2022 confirms the concerns in Europe.

“The trade report shows that traders are facing growing challenges from the tense economic environment and increasing abuse. »

This commerce report addresses the challenges e-tailers face in serving consumers who remain demanding and constrained by the economic situation. The report provides insight and guidance on what Signifyd identifies as the four key areas e-tailers need to focus on to thrive in 2023.

The 4 main lessons for the year 2023

1. Payment systems are undergoing profound changes . European retailers that optimize their payment systems to better leverage SCA exemptions and gain a holistic view of authorization and approval performance can expect to see sales increase by 5-9%.Payment preferences are constantly changing. Consumers’ enthusiasm for novelty is changing habits. According to data from Signifyd, online sales made by debit or credit card fell 22% this year compared to last year. At the same time, the BNPL option increased by 68%, while PayPal and Apple Pay increased by 274% and 70% respectively.
2. Returns have become a key issue . Since 2019, consumers have increasingly valued the conditions offered by merchants when it comes to returning an item. Charging a return fee to deter them is not the solution. Indeed, when necessary, customers tend to turn to brands that offer a better experience in this area. Favorable return policies, that is to say free or facilitated, constitute a guarantee of loyalty.In France, free returns are increasingly seen as an integral part of the purchasing process: 65% favor them, as does immediate reimbursement, which reaches 62%.

   Similarly, buyers are clear that they could abandon a brand or a retailer because of a bad product return experience (77%), even more they say they are, at 80%, hesitant to buy from a brand that charges for returns.

3. International expansion opens up new markets for retailers and provides growth beyond saturated domestic markets. Consumers have demonstrated that they are inclined to shop abroad to get the items they want at lower prices. 31% of French consumers buy an average of 10% of their items on foreign sites.
4. The entry into force of the SCA has caused further disruption for traders in the European Union. Moreover, 46% of French consumers said that one or even two bad online payment experiences would make them abandon a brand. To turn this obligation into a competitive advantage, it is essential to turn to intelligent solutions to guarantee maximum efficiency and protect against cybercriminals.

“ The trade report shows that traders are facing growing challenges from the tense economic environment and increasing abuse. said Amal Ahmed, Head of Marketing, EMEA . “ We are pleased to deliver a report that not only points to the obstacles ahead, but also offers actionable strategies to overcome them . the unfavorable economic context, will be the online brands that will have implemented new payment processes, taken into account the importance of returns and grasped the challenges of internationalization and the new era of SCA” concludes- She.

Methodology

“The State of Commerce in Europe 2023” is a compilation of e-commerce sales data, predictive analytics and shopper surveys conducted for Signifyd by research firm OnePoll in June and September 2022.

Signifyd’s data comes from its proprietary merchant network, which includes thousands of merchants worldwide in the e-commerce industry. The consumer data comes from a series of surveys focusing on strong customer authentication, conducted with 2,000 consumers in the UK, France and Italy. A second survey covering the economy and the e-commerce sector as a whole was also conducted with a comparable panel in terms of location and number. The surveys were conducted by OnePoll, on behalf of Signifyd, in accordance with the Market Research Society Code of Conduct. These surveys were conducted between June and September 2022.