The pandemic has driven much of retail online. But where is eCommerce headed next?
LONDON, Oct. 26, 2020 /PRNewswire/ -- In an interview published on Business Reporter, Paul Marcantonio, Executive Director of UK and Western Europe at ECOMMPAY, talks about how merchants have been impacted and where eCommerce is heading post-COVID-19.
The shift to online trading has presented many retailers with a number of challenges including new customer expectations, a change to the way stock and orders are managed, and a need to address the end-to-end customer journey. An efficient "click and collect" system is particularly important.
It is not just High Street shops that have been affected. Many online retailers have also had to adapt to the expansion in trade and the increase in cross border transactions where localised payment solutions are needed.
Furthermore, with incomes generally diminished by the pandemic, shoppers are cautious and are shopping around more, meaning that retailers, online and offline, need to up their game, offering a slick user experience, especially during check out.
With an uptick in online transactions comes an increase in fraud. Retailers need to establish efficient fraud-prevention systems. This requires a two-part strategy: machine-learning fraud systems supplemented by good old-fashioned professional human overview.
Paul Marcantonio sums up his thoughts like this: "Be agile. We have all seen how fast the landscape can change. You have to be flexible to make changes to your business strategy, operations, and even markets."
To learn more about COVID-19 and the eCommerce landscape, read the article.
About Business Reporter
Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.
ECOMMPAY is an international payment service provider and direct bank card acquirer, engineering bespoke payment solutions for e-Commerce clients worldwide. Our payment gateway facilitates an omnichannel payment process, combining acquiring capabilities, 100+ payment methods, mass payouts, and technological innovation within a single, seamless integration. We are headquartered in London and have six offices globally, employing over 700+ payment experts.
SOURCE Business Reporter