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Mi-Pay Group Plc

Online or in-store, shoppers know what they want and leave if they don’t get it

They hate delivery charges and queues but love paying by card.

New research has revealed just what Australians want when they go shopping – and it’s bad news for retailers that aren’t able to give it to them.

The Future of Australian Retail, a study conducted on behalf of global payments platform Adyen, found that shoppers value convenience whether they’re shopping online or in-store.

Shopper demands

Of the respondents, 63% said they have left a store without making a purchase to avoid a queue. One-third of Aussie shoppers (32%) have also abandoned an online purchase because the payment took too long.

Whether shopping online or in a store, it doesn’t take much for a shopper to abandon their purchase. For in-store shoppers, 22% are likely to abandon their purchases if card terminals are out of order and 20% are likely to abandon their purchases if there’s no card payment option at the checkout.

For those shopping online, high delivery costs are reason enough to abandon a cart for 52% of those surveyed.

Warren Hayashi, Adyen President Asia-Pacific, says that these shopping gripes present an opportunity for retailers to offer new experiences such as click and collect.

“Keeping the customer happy is not just looking at optimising the online channel or the offline experience. It’s around offering unique experiences that take advantage of both channels,” he explains.

“So click and collect, or buy online and return in store – that’s where it’s not about optimising the channel, but offering cross channel experiences. I think that’s where retailers have a big opportunity.”

How we pay

Another opportunity is in payments, and it’s one that Adyen is helping retailers to solve. The report found that one-third of shoppers (32%) hate lengthy online payment processes and 31% dislike the lack of relevant payment options.

“We already had our own solution for Mastercard, Visa, Amex – the global schemes” said Michel van Aalten, Adyen country manager AUNZ.

“On top of that we’re now announcing EFTPOS which is the last piece of the puzzle for a unified commerce solution. An Australian retailer now only needs one contract with Adyen to let their shoppers pay online or in-store with any of their preferred payment methods.”

While shoppers are becoming increasingly demanding in the competitive retail landscape, businesses may not be responding to their demands quick enough. Recent research found that only 51% of businesses were ready and optimised to accept mobile payments, for example.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.