Tapping into payments insights for retail revival

BY ALL indications, a great revival is on the cards for the retail sector. In Singapore, we’re nearing the peak shopping season, with the Great Singapore Sale back in full force this month (September) and ecommerce shopping festivals abound. However, brands need to ensure they have the right approach to ride the recovery wave.

As pandemic-induced restrictions ease across the region, we continue to see a growing demand for both online and offline shopping experiences, as well as contactless payment options. For instance, our 2022 Adyen Retail Report found that 67 per cent of consumers in Singapore expect retailers to maintain the flexible approach they took during the pandemic. At the same time, more than half of consumers here are returning to brick-and-mortar stores, even as they continue to shop online.

With consumer expectations and preferences in flux, here are some insights to help brands understand, engage, and attract customers as they work to stay operationally agile and offer a smooth retail experience.