|
PPRO Research Discovers US Retailers are Falling Behind as the Global E-Commerce Market Competition Tightens
Wednesday, March 9, 2022
PPRO launches report to help American businesses maximize their chances of success as they enter new markets.
LONDON, March 1, 2022 /PRNewswire-PRWeb/ -- PPRO, the leading infrastructure provider for local payment methods, released its latest report which takes a look at the global e-commerce market in 2022 and how American businesses can maximize their efforts as they enter new global markets.
To bring US goods and services to a global market, merchants must know how to adapt and localize, including the opportunities and payment methods unique to the regions and countries into which they plan to expand. Considering 80% of consumers will abandon a transaction if they reach the checkout and cannot find a payment method they know and trust, it's clear that to ensure maximum consumer acceptance and the best possible conversion rates, a site must offer a range of familiar and trusted local payment methods. To better understand this challenge, PPRO's report provides comprehensive research on international payment methods, trends and cultural insights to help payment companies, merchants and retailers break into the global e-commerce market.
"US merchants and retailers need to understand that in order to compete with international brands, they need to prioritize the customer's preferences when it comes to payments," said Claire Gates, CCO at PPRO. "The global e-commerce market is booming and if US merchants want a chance to be top players, they need to be agile enough to evolve with the current payment ecosystem to expand into new regions and win new customers."
Key findings from the report include:
-- Consumers need retailers to care about their preferences. A recent study
found that between 35% and 45% of what a consumer regards as a "good
service" is contingent upon that person's culture and background. The
more a merchant's digital channels feel authentic to the shopper's
language and local culture, the more likely that shopper is to complete
the transaction. However, localization in this context is far broader
than simply translation, important as it is. It means optimizing every
aspect of your site and your apps to meet local needs and preferences.
While the e-commerce world is more interconnected than ever, localized
strategies will always win out.
-- Your alternative is their normal: why local payment methods matter.
Almost seventy percent of Americans have a credit card, but globally
this is true of only 18% of consumers. According to PPRO's own research,
up to 80% of consumers will abandon a transaction if they reach the
checkout and cannot find a payment method they know and trust. To ensure
maximum consumer acceptance and the best possible conversion rates, US
merchants must offer a range of familiar and trusted local payment
methods.
-- American brands are strong. The good news is that American merchants are
competing effectively in these growing cross-border markets. Asked where
they bought their last cross-border purchase, 50% of Mexican shoppers,
47% of South Korean, 29% of Japanese, 28% of Australian and Indian
shoppers and 20% of Brits all say it was from the United States. As the
global cross-border market grows, so do the opportunities: untapped
regions and consumer groups that are participating in e-commerce for the
first time are a ripe target for merchants, especially because of the
acceleration of online shopping during the pandemic. If US online
marketplaces, brands and stores want to make the most of these
opportunities, they have to be prepared to compete in today's rapidly
changing market. And the competition is fierce.
To learn more about PPRO and access the report, visit ppro.com.
About PPRO
PPRO is a fintech company that globalizes payment platforms for businesses, allowing them to offer more choice at the checkout and boost cross-border sales. Payment service providers, enterprises, and banks that run on PPRO's infrastructure are able to launch payment methods faster, optimize checkout conversions, and reduce the complexities of managing multiple fund flows. Citi, PayPal, and Stripe are just some of the names that depend on PPRO to expand their platforms beyond borders. In 2020 alone, the company processed EUR8.84 billion for its partners. And with a growing global team of over 400 people, it's no wonder why they're considered the go-to local payments experts.
Media Contact
Annie Versnel, Walker Sands, (312) 267-0066, annie.versnel@walkersands.com
SOURCE PPRO
|
|
|
|
|
|
 |
Asetek - Mandatory Notification of Trade | Jan 22, 2026
|
|
BC.GAME to Host "Stay Untamed" Night During Abu Dhabi's Packed Web3 Summit Week | Jan 22, 2026
|
|
Tomorrowland Brings the Magic to Shanghai for a Spectacular First Indoor Edition in China | Jan 22, 2026
|
|
Rent Manager Earned Best Real Estate Software Product Award and Multiple Review Badges from G2 Platform | Jan 22, 2026
|
|
Auburn University's Applied Research Institute Expands Advanced Manufacturing Capabilities with CF3D Enterprise Cell | Jan 22, 2026
|
|
California Divorce Mediation Center Unveils Modern Website Redesign | Jan 22, 2026
|
|
AMPERA ANNOUNCES LOCATION FOR GLOBAL HEADQUARTERS | Jan 22, 2026
|
|
Immutable Announces First Co-Founder-Hosted Live Webinar: How to Dominate Your Steam Launch | Jan 22, 2026
|
|
Gemmy Alerts Customers: Fake Websites Target Holiday Decorators | Jan 22, 2026
|
|
Culture and tourism sectors thrive in Xiamen | Jan 22, 2026
|
|
|
|
