Digital acceleration to add up to 4 percent to retail's growth rate

Thursday 28 April 2022 13:39 CET | News

Recently released research by global payments platform Adyen has stated that British retailers could contribute with up to GBP 269 billion to retail turnover.

According to a poll commissioned by Adyen that consisted of 2,000 consumers and 500 businesses in the UK, the digital transformation should continue its accelerated pace in the near future. Around 74% of the businesses expect a growth of 20% in 2022, as a direct result of investments in technology. Combined with the end of the COVID-19 pandemic and businesses’ new modus operandi, UK businesses could contribute with up to 4% on the retail market.

The same research tackled consumers’ expectations when shopping online versus brick-and-mortar stores and mentions that 56% of them would be more inclined to remain faithful to a retail store if the latter allows easy returns for items purchased online. 

In terms of growth aspirations, businesses aim to develop online ordering portals or make preferred payment options easier and ultimately increase customer satisfaction. 

To find out more about Adyen, check out its company profile on The Paypers’ company database here.

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Keywords: research, merchant, ecommerce, retail, COVID-19, online shopping
Categories: Payments & Commerce
Companies: Adyen
Countries: United Kingdom
This article is part of category

Payments & Commerce


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