Monday, July 15, 2024

Addressing the demand for seamless commerce

The era of seamless commerce has arrived, according to new research.

KPMG, together with GS1, surveyed over 7000 consumers across 14 markets in the Asia Pacific region to understand more about the key challenges and opportunities facing the retail industry. The report, ‘Navigating the future of seamless commerce in Asia Pacific’, features interviews with senior C-suite-level executives from market-leading retailers, brands, and e-commerce marketplaces.

KPMG says one overriding conclusion is clear: the era of seamless commerce has arrived and while both online and offline channels remain popular throughout the region, traditional retail business models are unlikely to meet the expectations of many of today’s consumers.

“Consumers are paying greater attention to the sustainability credentials of both brands and retailers – not just of the impact of their purchases on the planet, but how fairly farmers and factory workers are rewarded for their productivity,” says the organisation.

“In payments, e-wallets, QR codes and app-based solutions are eating into the role of cash in many markets, although in markets with large populations of unbanked consumers, the transition is slower than in other markets where technology is coveted.

“Online shopping preferences including where they shop, what qualities they look for when choosing digital platforms and their attitudes towards rising technologies and services such as buy now, pay later and subscription programs must be taken into consideration. Retailers and brands must adapt or face potential consequences of not moving with the market.”

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