What is the Monday Morning Coffee with Spaycial? Every Monday morning, our editorial team brings you 5 need-to-know news from its weekly readings, to read in less than 5 minutes.
1. The first supermarket with no cash register nor cashier opened its doors in France. Why do we care? First, because it's revolutionising grocery shopping in our home country and second because the retailer's (Auchan Go) app links directly to the shoppers bank account. Like with our service, we now entered a time people will agree more and more to link their banking data to third party platforms to get a better service. To get in the store, you simply have to scan a QR code on your phone. No more credit card, no more cash, a seamless shopper experience!
2. In the same vein, this article on the diversification of online payment paths caught our attention because it shows that shoppers are getting used to trust all sorts of payment platforms to make their online purchases. Whether it's more frequent online purchases, diversification of payments, downloading of banking applications, distrust of fraud management by e-merchants is gradually eroding, argues Ecommerce.mag. "This development of online shopping should not be considered as a parenthesis but rather as a gas pedal towards a more phygital commerce, combining both the store and the digital to meet the new expectations of the customers", says Marc Lolivier, General Delegate of the Fevad.
3. This survey is filled with precious numbers when it comes to personalized holiday offers and we love every piece of it. It tackles one hot topic, directly linked to our point below : shoppers are ready to trade some types of private information for personalized holiday offers. It now seems it is the new established order. And platforms like ours will always make sure your data is safe and secured.
Among the data we enjoyed in there is this "41% of respondents who plan to split their shopping between new brands and those they already purchase from throughout the year". It's now up to brands to be well informed enough to target and reward shoppers better (good thing it's our baseline!)
4. Our loyalty program reading of the week took us to this Paytronix Report stating that loyalty programs can boost site visits and spend by 18% to 30% per member! A solid figure telling retailers that shoppers are willing to spend and to be loyal if the brand offers services and rewards. The CEO of the survey company goes further : "The best programs are those that look beyond simply enticing customers with offers and leans into the idea of personalizing the customer journey."
5. Finally, not a week goes by these days without a good read on Buy Now Pay Later. This week, some figures surfaced and they're big : the global BNPL market size-valued at $90.69 billion in 2020- is expected to reach $3.98 trillion by 2030, growing at an annual growth of 45.7% from 2021 to 2030! More figures of this caliber : in 2025, it will represent 12% of e-Commerce spending in Europe, i.e. more than 295 billion euros, and it will surely cannibalize the consumer credit market.