Business Reporter BrandVoice: How COVID-19 Has Affected The ECommerce Landscape

The ecosystem of eCommerce is changing, and it’s changing rapidly. With the COVID-19 pandemic having had a large part to play in the shift from offline to online retail, we speak to Paul Marcantonio, Executive Director of UK & Western Europe at ECOMMPAY, about how merchants have been impacted and where eCommerce is heading post-COVID-19. – There has been a big digital shift due to the COVID-19 lockdown. Bricks and mortar stores are being forced online.

It’s important to understand that consumers now have less disposable income, and are therefore now buying more cautiously. This has resulted in them doing more research and more shopping-around to find the deals that work best for them. – During the course of the pandemic, the number of cashless transactions has spiked: the UK has seen an increase in cashless transactions which have grown from 10% to 60% of in-store purchases.

For example, as customers fill up their baskets, you don’t want to give them the chance to reconsider their purchases. In essence, as a merchant, you need to make the checkout process as fluid and user-friendly as possible. Other than a slick UX, safety and a broad variation of payment options, is there anything else that merchants look at when choosing a payment provider?– Speed of implementation is absolutely vital. By that I mean building their online proposition. Usually, this takes months. But because of the shift to online, this now needs to be done inside a few weeks. This involves everything from the integration of gateways, to the payment processes and understanding the merchant’s demands and requirements.

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BiznessReporter Love this. Technology has always been the lead factor in cultural change. Great point on cashless payments. B&Ms will have to become much more experiential.

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