Commercetools, a leading provider of headless commerce services, published the 2022 Commerce Innovation Report. The report included feedback from around 300 business leaders in retail around the world.
One of the key discoveries that 73% of buyers will leave a brand if its commerce experience doesn’t match their expectations, including payment options, digital devices and customer preferences. But still, 45% of the respondents confirmed that they spend minimum costs required to improve their capabilities in commerce.
The report provides some more information as well. For example:
- around 74% of the reponents stated that failure to start using new commerce solutions might affect their business;
- 40% of the people mentioned that current solutions of their company somehow limit their ability to sell goods or services, and around half of them thinks that the issue has existed for more than a year;
- only a quarter (25%) of the companies offer next-day shipping;
- only slightly more than one-fifth (21%) of the companies have loyalty programs;
In addition, very few companies make their checkout page convenient for their customers:
- less than half of companies offer more than one payment method;
- only 18% offer one-click checkout;
- about 16% offer a Buy Now Pay Later service;
- just 14% offer cashback.
Image Credit: Photo by Cytonn Photography on Unsplash
